Edp Renewables Sa · EURONEXT:EDPR
Edp Renewables Sa — Q2 2025 Earnings Presentation
25 slides from Edp Renewables Sa's earnings presentation, Jul 30, 2025
Slide 1: 1H25 Results Presentation
1H25 Results Picture Presentation July 30th, 2025 16:30 CET | 15:30 UK / Lisbon Valle Verde Wind Farm www.edpr-investors.com Italy
Slide 2: Agenda
Agenda 1 Update on Strategy Execution 2 1H25 results 3 Closing Remarks 4 Annex 2
Slide 3: Update on Strategy Execution
Update on Strategy Execution
Slide 4: 1H25 Main Highlights
1H25 marked by sound underlying EBITDA and net profit performance, capacity delivery and asset rotation plan fully on track for 2025E 1H25 Main Highlights Financial Performance 1H25 • Strong operational performance with 19.6 GW of installed capacity, +18%YoY following net additions of +3.0 GW YoY, a
Slide 5: Robust demand outlook for power and renewables in the US
Robust demand outlook for power and renewables in the US, and increased clarity on the One Big Beautiful Bill Strong fundamentals are fuelling the US energy market New Tax Credit framework in place… where renewables are the foundation of future growth US Power Demand(1) Start of Construction by Jul-
Slide 6: European Commission progressing on grid reforms and industrial resilience
European Commission progressing on grid reforms and industrial resilience, next step is to implement a targeted BESS action plan The European Commission advances grid reforms and BESS ramping up thanks to more & more favorable industrial resilience to become energy independent market conditions and
Slide 7: 2025 target capacity additions of ~2 GW evolving as planned
2025 target capacity additions of ~2 GW evolving as planned, on time and on budget, and good visibility on additions up to 1.5 GW for 2026 ~2 GW expected in 2025, ~70% planned for 4Q25… … ~65% of the up to 1.5 GW target secured for 2026 at above target risk/returns, core markets represent ~85% 2025
Slide 8: High visibility of Asset Rotation planned execution in 2025
High visibility of the Asset Rotation planned execution in 2025 with ~€0.7bn already closed or signed and ~€1.3bn under binding bids Asset Rotation 2025 Program Status AR Proceeds (€bn) EV/MW (€m) Under Asset Rotation processes remain active, supported by Closed Signed binding bids strong demand and
Slide 9: 1H25 Investments decreased 25% to €1.1bn
1H25 Investments decreased 25% to €1.1bn (vs. €1.5bn in 1H24), with high weigh in core markets, in line with lower pace of capacity additions Investments by Region Investments by Technology (€bn) (€bn; %) -25% 47% in US 38% in EU 1.5 (mainly Spain, Italy & Germany) Mainly 34% US & Singapore 6% 1.1 0
Slide 10: Continued efficiency improvement leading to 11% YTD decrease in adj. Core OPEX
Continued efficiency improvement leading to a 11% YTD decrease in adj. Core OPEX per average MW Adj. Annualized Core OPEX/ Avg. MW in Operation(1) Strategy focused on efficient operations (€k) -22% 53.0 Enhanced cost discipline through targeted efficiency -11% 46.4 measures and operational streamlin
Slide 11: EDPR on track to achieve 2025E guidance
EDPR on track to achieve 2025E guidance 2025E 1H25 0.4 GW Capacity Additions ~2 GW ~70% to be concentrated in the 4Q25 ~€1.9bn €1.0bn Recurring EBITDA ~€0.1bn of AR gains 1H25 generation at 21.2 TWh Generation at 41-43 TWh ~€8bn €9bn Net Debt ~€2bn Asset Rotation Proceeds proceeds concentrated ~€1bn
Slide 12: 1H25 Results
1H25 Results
Slide 13: Solid operational performance on the back of higher installed capacity
Solid operational performance on the back of higher installed capacity Installed Capacity YoY Electricity Generation YoY (EBITDA + Equity GW) (TWh) EBITDA +18% +12% Net Equity YoY YoY AR/Decom. 19.6 21.2 (0.7) 18.9 +3.1 (0.5) +0.3 +3.0 NA: US & 16.6 +0.4 Lower Higher MW Canada (0.4) N. America & Bra
Slide 14: Electricity Sales +2% YoY
Electricity Sales +2% YoY with +12% growth in generation offset by -9% lower average realized selling price Electricity Sales(1) (€m) 1H24 1H25 YoY YoY Renewable Index Generation % 100% 99% (1.8pp) +2% 1,162 Electricity Generation TWh 18.9 21.2 +12% 1,136 Europe TWh 6.1 5.8 -6% 475 Europe 552 -€77m
Slide 15: Underlying Recurring EBITDA increasing +20% YoY
Underlying Recurring EBITDA increasing +20% YoY driven by better business performance Recurring EBITDA Drivers (€m) YoY +2% +20% exc. AR gains 12 1,162 219 (384) (50) 960 Electricity Sales Tax Equity Revenues Asset Rotation Gains Core OPEX Other Costs (net)(1) Rec. EBITDA +€27m +€77m -€159m -€3m +€5
Slide 16: Financial Results
Financial Results +€21m YoY driven by +€1.7bn nominal financial debt Financial Results (€m) +€21m +25% Financial results +€21m YoY on the back of higher nominal (31) 244 223 2 (54) financial debt and lower capitalized financial expenses, partially offset by FX & Derivatives 274 220 1H24 Non- 1H24 ad
Slide 17: Strong Organic Cash Flow from operating portfolio
Strong Organic Cash Flow from operating portfolio (+€0.2bn YoY), Net Investments €1.3bn, asset rotation proceeds to be concentrated in 2H25 Organic Cash Flow Net Debt Change Dec-24 to Jun-25 (€m) (€bn) Includes €1.5bn Expansion Capex (of which €0.3bn from net EBITDA 948 payments reflected in changes
Slide 18: Recurring Net Profit excluding Asset Rotation gains +3x to €132m
Strong underlying performance with recurring Net Profit excluding Asset Rotation gains +3x to €132m 1H25 Rec. EBITDA to Rec. Net Profit Recurring Net Profit (€m) (€m) YoY +€159m Rec. EBITDA 960 ex. Gains - YoY 210 D&A(1) (445) (€56m) +3x AR gains 137 On the back 158 5 of capacity additions EBIT 515
Slide 19: Closing Remarks
Closing Remarks
Slide 20: Closing remarks
Closing remarks 2025 capacity additions of ~2 GW on time and on budget and ~65% of the 2026 target capacity already secured at above target returns, along with negotiations in progress, maintaining high visibility and confidence in EDPR’s growth pipeline EDPR delivered solid underlying results, with
Slide 21: Q&A
Q&A 21
Slide 22: Annex
Annex
Slide 23: EDPR's ESG 1H25 Performance
EDPR’s ESG 1H25 Performance ESG Performance 1H25 1H24 YoY CO2 avoided (kt) 12,160 11,040 +10% Environment Scope 1 and 2 emissions (kt) 13 15 -15% Recovered waste (%) 62% 63% -0.3 p.p. Women employees (%) 33% 34% -1 p.p. Social Fatal work-related injuries (#) 0 0 - Investment in communities (€m) 0.9
Slide 24: IR Contacts
IR Contacts E-mail: ir@edpr.com Phone: +34 900 830 004 Parque Empresarial ADEQUA Avda. de Burgos, 89 EDIF 1 MOD A-B 28050, Madrid - Spain EDPR Online Site: www.edpr-investors.com Link Reports & Presentations 24
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