The EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 6% to 1.4 billion euros. Excluding the exchange rate impact, mainly due to the 13% depreciation of the Brazilian Real against the Euro, there was an 8% growth in operating profit, as reported in the statement sent to the Portuguese Securities Market Commission (CMVM).
This performance is attributed by the company, led by Miguel Stilwell d’Andrade, to “the expansion of activity in terms of installed renewable capacity (+13%), electricity produced (+5%), and the base of electricity network assets in the Iberian Peninsula (+2%). Additionally, the increase in electricity prices in the US and the Iberian market more than compensated for the absence of gains from asset rotation in the first quarter of this year.”
