During a presentation to analysts following the release of the first-half results of EDPR this morning, the CEO shared expectations for the market a few days after the agreement between the US and the European Union for a 15% tariff on European products.
“We have limited impact from the tariffs because we have an almost entirely US-based supply chain,” he said, indicating that the company has already redirected its activities to that country.
With this, “we significantly mitigated” the risk, he emphasized.
Nonetheless, EDPR could face higher costs in the US in the future due to changes in tax credits currently benefiting from plans by Donald Trump’s administration.
“We are well positioned for 2026 and 2027,” he assured, explaining that EDPR has about 1.5 gigawatts still under the old legislation and that “can come into service by December 2028.”
“Beyond that, we are working for more capacity,” he highlighted.
Among other things, Miguel Stilwell d’Andrade also noted efforts made for efficiency, including through an internal restructuring, involving staff reductions. At the end of the first half, the company had 2,883 employees, compared to 2,935 in the same period last year.
EDPR posted profits of 93 million euros in the first half of the year, down 56% year-on-year (210 million), according to information released today by the Comissão do Mercado de Valores Mobiliários (CMVM).
The EBITDA (earnings before interest, taxes, depreciation, and amortization) was 948 million in the first six months, compared to 960 million in the same period last year.
However, recurring EBITDA remained unchanged at 960 million euros.
Net debt totaled 9,004 million euros, representing an increase of 726 million euros compared to December 2024.
EDP Renováveis, headquartered in Madrid, is a subsidiary majority-owned by Grupo EDP (Energias de Portugal), operating in the renewable energy sector.
Last year, it posted negative net results, with losses of 556 million euros, which it attributed to negative impacts from “non-recurring items” of 777 million euros.
