EDP Renovaveis : Decline in 2020, but hopes for today’s CMD
>Underperform rating maintained and TP adjusted to € 12.5 - Recurring performances in 2020 fell short of our forecasts. Scope effects were significant, since as part of its asset rotation policy, EDPR booked € 434m in capital gains included in recurring EBITDA. These included disposals of renewable energy assets in the US and Spain and also the transfer of offshore wind power projects to the new joint venture with Engie. The group suffered again in 2020 from much more...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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