Wind energy firm EDPR's nine-month profit halves but beats estimates
LISBON, Nov 6 (Reuters) -EDP Renovaveis EDPR.LS, the world's No. 4 wind energy producer, booked a 53% slide in nine-month profit on Wednesday due to fewer capital gains, though the result came in ahead of expectations.
Net profit tumbled to 210 million euros ($225 million), above the LSEG consensus estimate of 197 million euros. That included a charge of 65 million euros on projects in Colombia.
EDPR, which is majority owned by Portugal's largest utility EDP EDP.LS, logged 179 million euros in capital gains from the sale of stakes in two wind projects and a solar farm - part of its strategy to sell interest in mature plants to finance new ones. That compares with capital gains of 393 million euros the previous year.
Electricity revenues and power generation both grew 5% during the first nine months of the year, to 1.73 billion euros and 26,531 gigawatt-hours (GWh), with growth mainly coming from North America and Asia-Pacific.
Europe and North America accounted for 31% and 55% of total generation output respectively, "with onshore wind representing 85% and solar 15%", it said.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 9% year on year to 1.29 billion euros, beating the 1.28 billion euros expected on average by analysts.
EDPR, which operates in 28 countries across Europe, Asia and the Americas, said that in September its installed capacity was 16.8 GW, up around 3.0 GW from a year ago.
($1 = 0.9323 euros)
Reporting by Sergio Goncalves, editing by Inti Landauro and Edwina Gibbs
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