EDP 's consolidated net income rose to 762 million euros ($824 million) in the first half, above the average of 738 million euros expected by analysts in an LSEG survey.
Profit at EDP Renovaveis (EDPR) (EDPR.LS), opens new tab, the world's fourth-largest wind energy producer, more than doubled to 354 million euros thanks to capital gains from selling older assets and a rebound in electricity revenues.
EDP said it booked a total of 243 million euros in consolidated capital gains from the sale of renewable energy parks and transmission assets in Brazil.
Recurring net profit rose 50% to 775 million euros, helped by the growing contribution of its Brazilian business after the buyout of EDP Brasil minorities concluded in August.
EDP's power generation increased 6% to 30,903 gigawatt-hours (GWh), 98% of which was renewable.
Supported by strong rainfall, hydro generation in Iberia rose 65% to 7,782 GWh, although lower power prices, including a 56% fall in Spanish spot electricity price, weighed on revenues.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10% to around 2.7 billion euros, compared to 2.6 billion euros expected by analysts.EDP reiterated its May guidance for full-year recurring EBITDA of around 5 billion euros and a recurring net profit of 1.3 billion euros.
