Edp Renewables Sa U/Adr (EDRVY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everyone. Thank you for joining EDPR's first of 2025 results conference call. We are pleased to have you with us today, our CEO, Miguel Esposandrade, and our CFO, Rui Teixeira. They will walk us through the key financial highlights from the period and share insights into the full year outlook. After the presentation, we'll open the floor for questions. You are welcome to submit them via the conference chat or ask them directly over the phone. Section is scheduled to last approximately 60 minutes. With that, I will now hand over to Miguel Sotomayor to begin the presentation. Thank you, Miguel. Good afternoon, everyone. It's good to catch up with you before many of you head off to some well-deserved holidays. So I'd start off by moving to slide four and talking about the first half, key highlights and numbers. So I think the first half was marked by a really solid evolution of the underlying EBITDA net profits. We're also on track to deliver the two gigawatts of capacity that we'd committed to. And the asset rotation plan is also proceeding as expected. In fact, we just announced a couple of hours ago an asset rotation in Greece. So another one. And we expect a couple more over the next couple of days and weeks. And that's all aligned with our 2025 year-end targets. Overall, installed capacity grew to almost 20 gigawatts, up 18% year-on-year, so that's thanks to the net additions of 3 gigawatts. We got a 12% year-on-year increase in generation, so reaching over 21 terawatt hours. And here we've done a lot of work on our volume projections and modeling, and I think just increased confidence in the ability to estimate the projections. So I think we're feeling good about this. In terms of average selling price, it's standing at 55 euros per megawatt hour, down 9%...