EDP RENOVAVEIS | NEUTRAL | EUR7,5 Q3 2018 results broadly in line with expectations
EDP RENOVAVEIS - NEUTRAL | EUR7,5(-6%)Q3 2018 results broadly in line with expectations
Q3 2018 top-line down 11.7% yoy
Q3 2018 EBITDA slightly below consensus expectations
We remain slightly below the consensus on FY-2018e metrics
Neutral recommendation confirmed
EDP Renovaveis is a renewable energy company based in Spain. Co. is engaged in activities related to the electricity sector, namely the planning, construction, operation and maintenance of electricity generating power stations, especially hydroelectric, mini-hydroelectric, wind, solar, thermal solar, photovoltaic, biomass and waste plants, among others. Co. designs, develops, manages and operates power plants. Co. generates electricity using renewable energy sources mostly wind energy. Co. owns EDP Renewables Europe that operates in several European countries and Horizon Wind Energy, which operates in the United States. Co. is a part of the Energias de Portugal group.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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