Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP : Un T1 22 qui cumule tous les vents contraires

>Opinion Surperformance et OC 6.0 € maintenus - Les résultats T1 22 sont ressortis au-dessus de nos attentes en termes d’EBITDA et d’EBIT mais bien en deçà pour le RNpg, pénalisé par la zone Ibérique avec une faiblesse historique de l’hydrologie et des prix de gros élevés. En amont de la conférence téléphonique de ce jour, et suite aux résultats d’Enel sur la même zone, nous considérons qu’une grande partie de ces vents contraires devrait pouvoir être absorbée par EDP...
Underlying
EDP-Energias de Portugal SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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