Portugal's wind power generator EDP Renewables (EDPR.LS) on Wednesday posted a 109 percent rise in first-half net profit, to beat market expectations, after an increase in output and smaller amortisations. EDPR, the world's fourth-largest wind power company and a unit of Energias de Portugal (EDP.LS), said its net profit in January-June totaled 90 million euros ($130.3 million).
Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 19 percent to 409 million euros, EDPR said in a statement.
Analysts in a Reuters poll had forecast, on average, a net profit of 60 million euros and EBITDA of 408 million euros.
The company said it increased the average life span of its assets to 25 years after a techhnical study of wind turbines, which led to a positive impact of 21 million euros on the net profit in the second quarter thanks to lower amortisations.
EDPR said earlier this month its power generation rose 27 percent in the first half, boosted by output growth in the United States.
