Agência para o Investimento e Comércio Externo de Portugal


Portuguese utility company EDP-Energias de Portugal reported on Thursday a 9% rise in first-half net profit, boosted by the acquisition of Spanish electricity company Viesgo.

EDP said its net profit for January-June rose to 343 million euros ($407.48 million), but its recurring net profit fell 15% to 326 million euros.


Its consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped 10% to 1.69 billion euros.

EDP agreed to buy Viesgo in July 2020, more than doubling its presence in Spain's electricity distribution market.


"(EDP's) performance was positively impacted by the integration of Viesgo in Spain and the increase in results in networks in Brazil," the company said.