Slide 1: Results Presentation 9M24
¥ | Results Presentation 9M24\ Lisbon, November 8"
Slide 2: Disclaimer
Disclaimer This document has been prepared by EDP, S.A. (the "Company") solely for use at the Forward-looking statements include statements regarding: objectives, goals, strategies, presentation to be made on this date and its purpose is merely of informative nature and, as outlook and growth prospe
Slide 3: 9M24 Main Highlights
Net Profit +7% YoY growth to €1.1 Bn in 9M24, benefiting from portfolio diversification: integrated generation Iberia, Networks and Wind & Solar 9M24 Main Highlights Financial Performance Renewables weight on total generation output at 97% in 9M24, Recurring figures with renewables generation increa
Slide 4: Hydro resources in 9M24 +33% above average
Hydro resources in 9M24 +33% above average, driving outstanding increase in hydro generation in 9M24, in a context of lower wholesale prices Hydro generation in Iberia Reservoir levels in Portugal TWh % Hydro resources PT vs. LT -21% 33% average 20241 Avg. 2013-2021 100 Pumping 2023 Range 2013-2021
Slide 5: Flexible hydro portfolio an important source of value
Our flexible hydro portfolio is an important source of value as the weight of wind & solar in the system increases Flexible hydro portfolio set to increase margins as Positive prospects already factored in 2024 intra-day spreads grow Prices dispersion over average daily hour 5.5 GW ~75% with reservo
Slide 6: Integrated business Iberia: hedged volumes and forward prices 2025-2026
Integrated business Iberia: hedged volumes and forward electricity prices for 2025-2026 Integrated generation & supply Forward and hedged electricity prices Iberia 2025-2026 business in 2024 €/MWh1 2025 2026 Baseload volumes 85% 40% hedged, % Hedging price at ~90€/MWh +3 Positive impact from lower g
Slide 7: Portugal 2024/2025: healthy public finances and competitive electricity system
Portugal 2024/2025: healthy public finances and a competitive and financially sustainable electricity system Portugal: Public accounts in budget surplus and 2025 electricity tariffs proposal continues to decreasing trend on public debt/GDP ensure stable end-user electricity prices Avg. retail tariff
Slide 8: New regulatory periods in Portugal and Spain in 2026
New regulatory periods in Portugal and Spain in 2026: Improved returns and higher investments are critical for the energy transition opportunity Roll out of electricity networks investment in Iberia EDP is prepared to invest in this business, if is needed to foster the energy transition adequate ret
Slide 9: Portfolio well placed for data center growth in Iberia
EDP’s portfolio well placed for data center growth opportunity in Iberia, with potential in other regions being assessed Our portfolio in Iberia is ready to address key … with several potential sites to host DCs being challenges for DC deployment… explored Grid connection secured Grid connection bei
Slide 10: Brazil: strong demand and solid regulatory framework
Brazil: strong demand and solid regulatory framework support our investment focus on networks; Sound hedging policy on energy prices & forex Strong electricity demand and renewables growth Positive trend on power prices foster need for investments in electricity networks Electricity wholesale price,
Slide 11: Wind & Solar execution progressing; recycling capital
Wind & Solar execution progressing to meet 2024 additions target; Recycling capital to invest in high-quality portfolios at competitive rates ~4 GW additions for 2024 underway, with slower Achieving attractive multiples in asset rotation, commissioning impacting expected generation while reinvesting
Slide 12: Focusing on efficiency as a key competitive advantage
Focusing on efficiency as a key competitive advantage, with measures in place decreasing OPEX YoY in absolute and relative terms OPEX levels decreasing YoY, more than Key measures offsetting inflation rate in the period Opex recurring, € Bn Local inflation 2.3% Simplify decision-making process & cor
Slide 13: On track to be coal free in 2025
On track to be coal free in 2025 following significant progress on portfolio decarbonization, complying with sustainable investment criteria Strong track record in the energy transition Aligned with guidelines for sustainable investment 2021 2022 2023 9M24 9.8% <1% revenues derived from coal % reven
Slide 14: 9M24 Results
9M24 Results
Slide 15: Recurring EBITDA of €3.9 Bn, +1% YoY
Recurring EBITDA of €3.9 Bn, +1% YoY, backed by strong hydro volumes and impacted by lower AR gains vs. 9M23 Recurring EBITDA1 ,€m YoY growth, % ∆ YoY +1% • Integrated business benefiting from strong hydro volumes but impacted by 3,830 3,879 coal deconsolidation (~€107m in 9M23 +€71m Hydro, vs. 0 in
Slide 16: Wind & Solar EBITDA -10% YoY
Wind & Solar EBITDA -10% YoY, reflecting lower asset rotation gains in 9M24; Excluding AR gains, Wind & Solar EBITDA +7% YoY Wind & Solar Recurring EBITDA €m YoY growth, % Exc. AR ∆ YoY 9M23 9M24 YoY +7% Installed Capacity1, GW 15.1 16.8 +11% -10% 1,437 Prod. deviation vs. exp. LT Gross -6% -2% +4 p
Slide 17: Gen. & Supply EBITDA +5%
Gen. & Supply EBITDA +5% following +3.7TWh of hydro generation in Iberia YoY, more than offsetting the impact of coal deconsolidation Hydro, Clients & EM Recurring EBITDA €m YoY growth, % Exc. coal +15% Iberia 9M23 9M24 YoY +5% ∆ YoY 1,271 1,340 Hydro coefficient in Portugal, avg.=1 0.79 1.33 68% Co
Slide 18: Electricity Networks EBITDA +14%
Electricity Networks EBITDA +14%; Ex-gains EBITDA increased 7% supported by consumption growth and inflation update in Brazil and Portugal Electricity Networks Recurring EBITDA €m YoY growth, % Exc. AR gain Iberia 9M23 9M24 YoY +7% Electricity Distributed PT, TWh 34 35 +2% +14% ∆ YoY 1,270 Gross pro
Slide 19: Financial Costs Flat YoY
Financial Costs Flat YoY with lower cost of debt offset by higher average debt Net Financial Costs1 Avg. nominal debt by currency €m % +1% 630 640 51 % 62 % EUR 30 % 19 % USD Of which 4% BRL 9M23 9M24 12 % Singaporean 13 % 7% 6% Other dollars Avg. Cost of Debt 4.9% 4.5% 9M23 9M24 Further decrease in
Slide 20: Net debt increase reflecting expansion investments and dividend payment
Net debt increase reflecting the funding of expansion investments and dividend payment Change in Net Debt € Bn Net Debt/EBITDA(1) 3.3x 3.6x FFO/Net Debt(2) ~21% ~20% Full payment of 17.3 annual dividend in 0.6 May ‘24 2.9 15.3 FX €-0.1Bn 1.6 0.5 Hybrid -€0.5Bn 0.8 2023 Organic CF Dividend Regulatory
Slide 21: Net Profit of €1.1 Bn, +7% YoY
Net Profit of €1.1 Bn, +7% YoY backed by a robust topline performance and lower minorities in Brazil post minorities-buyout Recurring Net Profit1 Recurring Net Profit €m €m Exc. AR gains Δ YoY +21% Of which 42% electricity networks EBITDA 3,879 49 +7% 1,026 1,095 D&A and Provisions 1,301 -13 276 191
Slide 22: Closing remarks
Closing remarks
Slide 23: Closing remarks
Closing remarks Sound 9M24 results, with +7% net income growth YoY enhanced by sound generation & supply business in Iberia, great contribution from electricity networks, and EDP Brasil minorities buyout, support the reiteration of our €1.3 Bn recurring net income guidance for 2024. Iberian market a
Slide 24: Q&A
Q&A @edp
Slide 25: High financial liquidity at €8 Bn
High financial liquidity at €8 Bn supported by >€6bn of available credit lines, covering refinancing needs until 2027 Financial liquidity EDP consolidated debt maturity profile1 as of 9M24, €Bn as of 9M24, €Bn Cash & Equivalents 1.9 EDP Brasil EDP SA & EDP Finance BV and Other (% of total debt) Avai
Slide 26: EDP's ESG 9M24 Performance
EDP’s ESG 9M24 Performance 9M24 9M23 YoY 2026 target Renewables generation (%) 97 85 +11 p.p. 93 Scope 1 and 2 emissions intensity (gCO2/kWh) 24 89 -73% 36 Environment Capex aligned with EU taxonomy (%) 97 97 - >98 Total recovered waste (%) 90 97 -7 p.p. 90 Clients with electric mobility solutions (
Slide 27: IR Contacts
IR Contacts E-mail: ir@edp.com Phone +351 210 012 834 Site: www.edp.com