LISBON, Nov 5 (Reuters) - Portugal's largest power utility EDP (EDP.LS) , opens new tab on Wednesday posted a 12% fall in nine-month profit, weighed down by smaller capital gains, but still beat market expectations.

It said consolidated net profit fell to 952 million euros ($1.11 billion), above the LSEG consensus estimate of 920 million euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 3% year on year to 3.8 billion euros, also beating the survey's average of 3.7 billion euros.

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EDP's wind energy subsidiary EDP Renovaveis (EDPR.LS) , opens new tab booked only 35 million euros in capital gains from the sale of wind and solar assets – part of a strategy of disposing of stakes in mature plants to finance new ones, while a year ago such operations raked in 167 million euros.

As a result, the unit's profit fell 49% to 107 million euros.

EDP said that excluding the reduced gains from asset sales, recurring net profit increased by 5% year-on-year, reflecting a 14% increase in total electricity output from new capacity, with a strong contribution from operations in the United States, Portugal and Spain.

EDP, which operates in 29 countries across Europe, the Americas, and Asia said its gross margin – revenue from energy sales minus the direct costs of producing or acquiring it – was flat at 5.2 billion euros.

($1 = 0.8575 euros)

https://www.reuters.com/business/energy/edps-9-month-profit-falls-12-lower-capital-gains-beats-forecasts-2025-11-05/