The net profit surpassed the previous year, reaching a value of 14.4 million euros, an increase of 10.7 million euros, according to a statement.
This development was driven by the increase in financial results and positive tax effects.
In the first quarter of 2024, REN reported 3.7 million euros in profit.
Until March, the earnings before interest, taxes, depreciation, and amortization (EBITDA) were at 128.9 million euros, remaining unchanged compared to the same period in 2024.
During this quarter, investment increased by 44.4% to 69.1 million euros.
Meanwhile, operational costs rose by 8.7% to 28.4 million euros, primarily reflecting the higher electricity costs (1.2 million euros), mainly at the Sines LNG (Liquefied Natural Gas) terminal, as well as an increase in the number of employees from 746 to 758.
Net debt decreased by 12.6% to 2,334.6 million euros.
In the first quarter, electricity consumption increased by 2.7% to 14.1 terawatt-hours (TWh).
Renewable production supplied 80.5% of the consumption, distributed between hydroelectric (39%), wind (29%), photovoltaic (7%), and biomass (5%).
Gas consumption decreased by 0.2% to 11.6 TWh.
In today’s stock exchange session, REN’s shares dropped by 2.58% to 2.84 euros.
[News updated at 17:30]
