EDP Renovaveis : A 2019 performance pushed up by divestments
>Neutral maintained but target price lifted to € 10.0 vs € 8.50 - The 2019 performance, on a recurring basis (excluding capital gains on the disposal of production assets), came in a shade below our estimates at the operating level and for attributable net profit. Note that, at its EBITDA level, the group booked a capital gain on the sale of € 226m of wind farms in the US (997 MW gross and 491 MW net for EDPR’s share) and an€ 87m capital gain on the sale of 137 MW in ...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.
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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