EDP : FY 2022 in line with 9M 2022 but an improvement in Q4 2022
>Outperform rating and target price of € 6.0 maintained - The 2022 results came in slightly above our forecasts and those of the consensus in operating terms but were below in terms of net profit, affected by asset depreciations. As expected, activity in FY 2022 was penalised by the Iberia region with historic weakness in hydrology and high wholesale prices. Ahead of today’s conference call that also includes a strategic update, we are maintaining our Outperform recom...EDP Energias de Portugal is a utility company engaged as a generator, distributor and supplier of electricity in Portugal, and as an electricity generation company and a gas distributor in the Iberian Peninsula. In addition, Co. is a wind power operator with windfarms for energy generation in the Iberian Peninsula, the U.S., Canada, Brazil, France, Belgium, Italy, Poland and Romania and is engaged in developing wind projects in the U.K. Co. is also engaged in generating solar photovoltaic energy in Portugal, Romania and the U.S, and in Brazil it is engaged as an operator in electricity generation. As of Dec 31 2015, Co. had 9.7 million electricity customers and 1.4 million gas customers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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