Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP Renovaveis : Une performance 2019 poussée par les cessions

>Opinion Neutre maintenue mais OC relevé à 10.0 € vs 8.50 € - Les performances 2019, sur une base récurrente (hors prise en compte des plus-values de cessions d’actifs de production), sont ressorties un peu en deçà de nos estimations au niveau opérationnel et pour le RNpg. Notons que le groupe comptabilise dans son EBITDA les plus-values de cession de 226 M€ des parcs éoliens aux Etats-Unis (997 MW bruts et 491 MW nets en quote-part EDPR) et de 87 M€ de 137 MW au Brés...
Underlying
EDP Renovaveis SA

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.

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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