EDP Brasil’s profit doubled in 2018 to reach 1.27 billion reais, around 300 million euros in 2018, the company said today, highlighting the “historical result“.
In a statement, the company said that the result achieved in 2018, which represents a 108% increase over 2017, “is the best result achieved by the company in 23 years of operation in Brazil.”
The company’s EBITDA (earnings before taxes, interest, depreciation and amortization) stood at R $ 2.77 billion, around € 650 million, an increase of 26.6% over the previous year.
The company’s investment continues to increase, representing an increase of 47.5% and the company’s net revenue was 9.6% over the previous year.
Net debt rose 1.2%, he adds.
Among the most relevant business of 2018 is the investment in the energy transmission networks of 153.8 million reais only in the last quarter of 2018, with the completion of the lot of the State of Espírito Santo and with the anticipation of the deadlines in the lot of Santa Catherine.
For the year as a whole, investments totalled 316.1 million reais.
The company was also able to reduce non-technical losses in energy distribution in 2018 and mitigate the negative impact of the drought on energy prices.
EDP says it has launched an “ambitious digital transformation plan, having become the pioneer company in robotization in the sector, with 130 robotized administrative business processes.”
“The year 2018 marked the beginning of a new phase of the company, with a sustained pace of growth, supported by the completion of the three hydroelectric power stations and by the latest investment in services and in the regulated networks segment – energy transmission and distribution. In a year of recovery of the Brazilian economy, EDP Brasil managed to achieve a historic result, “says Miguel Setas, president of the company, quoted in the statement.
With around 20 years of operation, EDP Brasil operates throughout the value chain (production, transportation, distribution and energy sales).
The company has more than 10 thousand direct and outsourced employees and is a reference in areas such as innovation, governance and sustainability, and has been in the Business Sustainability Index (ISE) of B3 for 13 consecutive years.