EDP Renovaveis : H1 2019 in line, still on the 2022 strategic trajectory
>Neutral recommendation and target price of € 7.50 unchanged - H1 2019 performances, on a recurring basis, were in line with our estimates at the operating level and slightly above at the attributable net profit level. Note that, at its EBITDA level, the group booked a capital gain on the sale of € 219m of wind farms in the US (997 MW gross and 491 MW net for EDPR’s share). The group benefited from significantly more favourable wind conditions in Q2 2019 compared to Q...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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