EDP reports 22% profit increase amid CEO departure announcement

EDP has reported a 22% increase in recurring net profit for the first nine months of 2026, reaching 1.191 billion euros. The company attributed this growth to strong performance in renewable energy, asset rotation gains, and the start of new regulatory periods for electricity grids in the Iberian Peninsula.

Recurring EBITDA rose 11% to 4.2 billion euros. Within the group, EDP Renewables saw a 23% EBITDA increase, supported by asset rotation in the United States, Poland, and Italy, despite lower electricity prices in Europe and lower renewable resources in certain regions. In Brazil, EBITDA grew by 2% due to inflation-adjusted distribution revenues and positive currency impacts.

These financial results follow the announcement that CEO Miguel Stilwell de Andrade will depart at the end of his current mandate in 2027.