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EDP Renováveis
EDP Renováveis (EDPR) investor relations material
EDP Renováveis Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Feb, 2026
Executive summary
Achieved a strong recovery in 2025, with recurring EBITDA of €2.0bn (up 17% YoY), surpassing guidance, and recurring net profit of €330m, up 50% YoY.
Net debt reduced to €8.1bn, improving leverage with net debt to recurring EBITDA ratio down to 4.1 from 4.9.
Added 2 GW of gross capacity, mainly in North America and Europe, with generation up 11% to 40.6 TWh and all planned capacity delivered on time and on budget.
Asset rotation proceeds reached €1.7bn, with €119m in gains, mainly from Europe, reflecting robust investor demand.
Efficiency gains drove a 12% reduction in core OpEx per average MW and a 9% reduction in headcount.
Financial highlights
Recurring EBITDA reached €2.0bn (+17% YoY), underlying EBITDA at €1.9bn (+23% YoY), and recurring net profit rose fourfold to €330m.
Net debt closed at €8.1bn, down €0.2bn from 2024, with net debt/recurring EBITDA improved to 4.1x.
Asset rotation gains totaled €119m, in line with guidance.
Electricity sales increased 1% YoY to €2.15bn, with installed capacity up 6% to 20.4 GW.
North America led growth, with generation up 16% and sales up €145m.
Outlook and guidance
2026 guidance: recurring EBITDA of ~€2.1bn, supported by high single-digit generation growth and average selling price of €52/MWh.
1.5 GW of capacity additions for 2026 already secured, >80% under construction.
Asset rotation gains for 2026 guided at €0.2bn, with proceeds around €1.5bn.
On track for 2028 targets: €2.2bn recurring EBITDA, €0.6bn recurring net profit, and 5 GW gross additions.
2026-28 gross investments expected at ~€7.5bn.
IRA's 2025 bill: US project tax credit deadlines?
Europe's underperforming assets: What's the plan?
Agrivoltaics in Europe: Expansion strategy?
Accelerate US growth given market strength
How effective is hedging against EU price drops?
Sustain OpEx efficiency beyond 2025?
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Latest events from EDP Renováveis
- EBITDA up 26% to €960m, net profit €210m, 2.9 GW added, €1.2bn asset rotation, OpEx down 8%.EDPR
Q2 20242 Feb 2026 - Revenue and generation rose, but profit dropped sharply on lower asset rotation gains.EDPRQ3 202416 Jan 2026
- Colombian wind projects halted, incurring up to EUR 0.7bn loss with no impact on dividends.EDPRStatus Update10 Jan 2026
- Recurring EBITDA up 20% YoY (ex-gains), 10% higher generation, and €8bn net debt target.EDPRQ1 20258 Jan 2026
- Record capacity growth and efficiency gains, but profits impacted by impairments and lower AR gains.EDPRQ4 20247 Jan 2026
- Recurring net profit up 5% to EUR 974M, with higher net debt and strong renewables growth.EDPRQ3 20256 Nov 2025
- Underlying EBITDA up 20% and capacity up 18%, but net profit fell on lower asset rotation gains.EDPRQ2 20258 Sep 2025
Next EDP Renováveis earnings date
AGM 202613 Apr, 2026
EDP Renováveis
Next EDP Renováveis earnings date
AGM 202613 Apr, 2026
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