Finance
EDPR posts unexpected loss on heavy impairments in US, Colombia
Published by Global Banking and Finance Review
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
EDPR reported a 556M euro loss in 2024 due to impairments in the US and Colombia, despite a 4% increase in electricity sales.
LISBON (Reuters) - EDP Renovaveis , the world's fourth-largest wind power producer, posted an unexpected net loss of 556 million euros ($584 million) in 2024 on heavy one-off impairments on projects in the United States and Colombia, even as revenues increased.
Analysts polled by EDPR expected an average profit of 272 million euros.
The company, majority owned by Portugal's EDP, said the bottom line was hit by non-recurring charges worth 777 million euros, "mainly explained by the U.S. offshore impairment" as well as the decision to exit from wind farms in Colombia.
EDPR said recurring net profit, excluding one-offs, fell 53% to 221 million euros.
It also booked just 179 million euros in capital gains from the sale of stakes in four wind and solar projects – part of its strategy of selling mature plants to finance new ones – after making 460 million euros in 2023.
Electricity sales grew 4% to 2.32 billion euros in 2024, supported by a 6% increase in power generation to around 36,600 gigawatt-hours (GWh) due to robust growth in North America and Asia-Pacific, it said.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 16% year-on-year to 1.53 billion euros, below the 1.74 billion euros expected on average by analysts.
($1 = 0.9514 euros)
(Reporting by Sergio Goncalves, editing by Andrei Khalip)
The article discusses EDPR's unexpected financial loss in 2024 due to impairments in the US and Colombia.
EDPR faced heavy one-off impairments in the US and Colombia, leading to a net loss.
Electricity sales grew by 4% to 2.32 billion euros in 2024.
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