EDPR 1Q Profit, Revenue Fell

   By Giulia Petroni

EDP Renovaveis SA said Thursday that profit and revenue fell in the first quarter of the year.

The Portuguese renewable-energy company reported net profit of 38 million euros ($46 million) compared with EUR62 million a year earlier.

Earnings before interest, taxes, depreciation and amortization came in at EUR269 million from EUR340 million, as performance was partly hit by weather events in the U.S. and foreign-exchange effects.

Revenue was down 8% on year to EUR448 million, mainly due to the impact of sell-down transactions on its power capacity, lower selling prices and forex transactions.

EDPR said it produced 8.1 terawatt hours of clean electricity in the period, a 5% increase on year.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

May 13, 2021 02:38 ET (06:38 GMT)

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