EDP lost 10.5% in value in just one and a half trading sessions. The results of the first nine months of the year disappointed investors on Thursday and not even the announcement of strong investments in Portugal over the next three years could avoid losses, this Friday, the 7th.
Listed on the Lisbon stock exchange, the energy company presented results last Wednesday, after the end of the session. The numbers indicate that profits fell 12% between January and September, compared to the same period last year.
At the same time, the profit attributable to shareholders also lost its ‘flame’ and stood at 952 million euros. However, the reaction of investors was not long in coming.
The company’s shares ended Wednesday’s session at 4.389 euros and, the following day, trading contracted to 4.106 euros. Therefore, they dropped 6.5% on Thursday… but the negative feeling did not stop there.
This Friday, November 7th, bonds fell 4.38% and are trading below 4 euros for the first time since the end of September. The price is now around 3,926 eurosa sign that supply continues to exceed demand.
It is recalled that the listed company had reached highs of almost two years in mid-October, when shares traded above 4.48 euros.
This means that not even the company’s most recent announcements have been able to cheer up the markets. EDP has plans to invest 2.5 billion euros in Portugal by 2028. At the same time, the EDP group estimates an investment of around 12 billion in the same period, the majority of this value in EDP Renováveis
All in all, the accumulated devaluation since the end of Wednesday’s session amounts to 10.5%.