Portugal’s largest utility EDP, whose major shareholder is China Three Gorges, reported a 40% jump in 2023 net profit, driven by higher hydroelectric production and more earnings from its Brazilian business.
EDP-Energias de Portugal netted EUR 950 million, while its wind and solar unit EDP Renovaveis saw profts drop 50% to EUR 309 million as revenues fell.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
