Edp Renewables Sa U/Adr (EDRVY) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Thank you for attending EDPR 2023 Results Conference Call. We have here with us our CEO, Miguel Espudo Andrade, and our CFO, Rita Scherer. We'll run you through the key highlights on the update on the execution of our strategic plan and the financial performance of the year. We'll then move to Q&A, in which we'll be taking your questions both by phone and the written questions that you can insert from now onwards in your conference webpage. This call is expected to last close to 60 minutes. I'll give now the floor to our CEO, Miguel Sildenrath. Thank you, Miguel. Good afternoon to everyone, and I think it's good that we can talk and update you on what's been happening in 2023 and also the company's update and outlook for the year. And I start off by saying that 2023 was a challenging year for the renewable sector in general, but also EDPR in particular. And I don't think there's any sugarcoating it, and I won't try to. I'll give you a balanced and realistic view of where I think the sector is and where EDPR is. As you know, we've been regularly briefing you on the year, and the fourth quarter didn't go particularly well either. There were several issues that negatively impacted us and that we've been working through and are continuing to work through, and I'll go through that in detail in the presentation. There are also some positives that I will highlight. So I would start off just by going Just before going to the bulk of the presentation, to slide four, just saying 2023, as I said, definitely challenging. Overall, for 2024, we do expect the underlying business to grow in 2024, you know, as much as above 20%. But assuming the capital gains in line with the business plan, that there would be a moderate growth in EBITDA overall. So moving f...