EDP Renovaveis : No surprises in 9M 2020 results, with a trajectory in line with the strategic plan
>Reduce rating and target price of € 11.0 maintained - Recurring results in 9M 2020 were in line with our forecasts. Note that scope effects were significant, since as part of its asset rotation policy, EDPR sold 997 MW in Europe (Q3 2019) and 137 MW in Brazil (Q1 2020). The group suffered again in 9M 2020 from wind conditions comparable to those in 9M 2019, with a capacity utilisation rate stable down 100bp to 29%, i.e. a deviation of around 9% from the standard scen...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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