EDP Energias do Brasil SA (BVMF:ENBR3) booked a net profit of BRL 2.2 billion (USD 428m/EUR 376m) in 2021, a year-on-year increase of 43%.

The local arm of Portuguese utility EDP - Energias de Portugal SA (ELI:EDP) said on Thursday the result reflects the success of its 2021-2025 strategy, as part of which the company is focusing on the transmission, distribution and solar power segments.

EDP Brasil saw its earnings before interest, tax, depreciation and amortisation (EBITDA) go up 28% to BRL 4.3 billion.