EDP Renewables FY 2011: Ebitda up by 12% to 801 million Euros on
Wednesday 29, February 2012
9
min read
This article has more than 6 months
EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that in 2011 electricity output increased by 17% to 16.8 TWh. Over the last 12 months, the company increased its installed capacity by 806 MW ( 12%) to a total of 7.5 GW, with a strong focus on new markets (Brazil, Poland and Romania) which represented over 40% of the newly installed capacity. For 2011, EDPR was able to maintain system-wide load factors of 29%, one of the highest in the industry, underlining the portfolio’s superior profitability. By geographical markets, load factors reached 25% in Europe, 33% in the USA and 35% in Brazil.
FY 2011 revenues rose 13% to €1,069 million, based on a strong electricity output increase (17% YoY), leading to higher electricity sales ( 16% YoY), a slower pace of Institutional Partnership Revenues (YoY 4%) and an unfavourable forex evolution.
EBITDA grew 12%, reaching 801 million Euros for 2011, in line with strong operating growth, with a constant EBITDA margin of 75%. EBIT figures show a high growth of 20% to reach 247 million Euros, reflecting top-line performance, non-recurrent revaluations and write-offs and the extension of assets’ useful life. Net profit for the FY 2011 was €89 million, up 10% on 2010.
Operational cash flow grew 13% YoY to €643 million in FY 2011, representing 80% of 2011 EBITDA, which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which now covers around 80% of annual capex.
At end 2011 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile.
EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics in 2012 and 2013. EDPR targets to add 500MW of generating power in 2012 in top quality projects.
"803"
FY 2011 revenues rose 13% to €1,069 million, based on a strong electricity output increase (17% YoY), leading to higher electricity sales ( 16% YoY), a slower pace of Institutional Partnership Revenues (YoY 4%) and an unfavourable forex evolution.
EBITDA grew 12%, reaching 801 million Euros for 2011, in line with strong operating growth, with a constant EBITDA margin of 75%. EBIT figures show a high growth of 20% to reach 247 million Euros, reflecting top-line performance, non-recurrent revaluations and write-offs and the extension of assets’ useful life. Net profit for the FY 2011 was €89 million, up 10% on 2010.
Operational cash flow grew 13% YoY to €643 million in FY 2011, representing 80% of 2011 EBITDA, which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which now covers around 80% of annual capex.
At end 2011 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile.
EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics in 2012 and 2013. EDPR targets to add 500MW of generating power in 2012 in top quality projects.
"803"
EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world's third-largest wind energy producer, today announced that in 2011 electricity output increased by 17% to 16.8 TWh. Over the last 12 months, the company increased its installed capacity by 806 MW ( 12%) to a total of 7.5 GW, with a strong focus on new markets (Brazil, Poland and Romania) which represented over 40% of the newly installed capacity. For 2011, EDPR was able to maintain system-wide load factors of 29%, one of the highest in the industry, underlining the portfolio’s superior profitability. By geographical markets, load factors reached 25% in Europe, 33% in the USA and 35% in Brazil.
FY 2011 revenues rose 13% to €1,069 million, based on a strong electricity output increase (17% YoY), leading to higher electricity sales ( 16% YoY), a slower pace of Institutional Partnership Revenues (YoY 4%) and an unfavourable forex evolution.
EBITDA grew 12%, reaching 801 million Euros for 2011, in line with strong operating growth, with a constant EBITDA margin of 75%. EBIT figures show a high growth of 20% to reach 247 million Euros, reflecting top-line performance, non-recurrent revaluations and write-offs and the extension of assets’ useful life. Net profit for the FY 2011 was €89 million, up 10% on 2010.
Operational cash flow grew 13% YoY to €643 million in FY 2011, representing 80% of 2011 EBITDA, which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which now covers around 80% of annual capex.
At end 2011 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile.
EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics in 2012 and 2013. EDPR targets to add 500MW of generating power in 2012 in top quality projects.
"803"
FY 2011 revenues rose 13% to €1,069 million, based on a strong electricity output increase (17% YoY), leading to higher electricity sales ( 16% YoY), a slower pace of Institutional Partnership Revenues (YoY 4%) and an unfavourable forex evolution.
EBITDA grew 12%, reaching 801 million Euros for 2011, in line with strong operating growth, with a constant EBITDA margin of 75%. EBIT figures show a high growth of 20% to reach 247 million Euros, reflecting top-line performance, non-recurrent revaluations and write-offs and the extension of assets’ useful life. Net profit for the FY 2011 was €89 million, up 10% on 2010.
Operational cash flow grew 13% YoY to €643 million in FY 2011, representing 80% of 2011 EBITDA, which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which now covers around 80% of annual capex.
At end 2011 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile.
EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics in 2012 and 2013. EDPR targets to add 500MW of generating power in 2012 in top quality projects.
"803"
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