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António Mexia and six other directors of EDP earn more than one million euros per year.
The president of the national electric company took home €2.2 million euros in 2018, made up from salary, performance related pay and bonuses. Mexia earned €100,000 less than in 2017.
Mexia received €6,024 per day, 54 times higher than the average salary of EDP workers.
The remuneration costs of the group’s employees amounted to €471.65 million, slightly below the €491.7 million in 2017. This means the average salary at EDP was €40,550 per year.
In addition to Mexia, there are six other EDP directors earning over €1 million with a cost of paying the board €11.3 million in 2018.
This wouldn’t be as bad if the company was coining it, but the results for 2018 were the worst for 14 years, with net profit plummeting 53% to €519 million.
The company’s trading in Portugal made a loss for the first time since 1997, despite sky-high electricity bills.