EDPR posts unexpected loss on heavy impairments in US, Colombia

LISBON, Feb 26 (Reuters) - EDP ​​​​​​Renovaveis ​​​​​​​​​​​​​​​​​​​​​​​​​EDPR.LS, 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.

Analysts polled by EDPR expected an average profit of 272 million euros.

The company, majority owned by Portugal's EDP EDP.LS, 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.

($1 = 0.9514 euros)