EDRVY EDP Renovaveis SA (PK)

   By Giulia Petroni 
 

EDP Renovaveis SA said Wednesday that 2020 profit rose, while revenue and production fell on year.

The Portuguese renewable-energy company posted a net profit of 556 million euros ($674.8 million), up 17% from EUR475 million a year earlier, mainly due to the successful execution of its sell-down strategy, it said.

Revenue decreased 5% to EUR1.73 billion, while earnings before interest, taxes, depreciation and amortization were flat on year at EUR1.66 billion.

EDPR produced 28.5 terawatt hours of clean electricity in the period, down 5% year on year, it said.

The company said it plans to distribute a total of EUR69.8 million to shareholders in 2020.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 24, 2021 02:41 ET (07:41 GMT)

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