In the note, released by the Securities Market Commission (CMVM), the group highlighted that “EDP's net result in the first nine months of 2023 reached 946 million euros.
This was supported, on the one hand, by the recovery of water production in Portugal at +61% compared to the extreme drought in 2022” and on the other, taking into account the “success of the OPA over EDP Brasil” and the “impact of the capital gains of the two asset rotation transactions in Spain and Poland”.
EDP's recurring EBITDA (earnings before taxes, interest, depreciation and amortisation) increased by 26% to 3,830 million euros, he said.
And what is the government going to do about these obscene profits? 83% year on year is absolutely scandalous. This is profiteering while people are suffering in the middle of an economic crisis. Firstly, there needs to be a windfall tax to recoup these ill gotten gains, and EDP needs to be forced to reduce its prices so this does not happen again next year.
By Paolito from Algarve on 06 Nov 2023, 18:04