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The Portugal Brief

Evening Edition

Business

REN's Q1 2026 Net Profit More Than Doubles to €36.2 Million on a Storm-Hit Comparison Base — EBITDA Up 11.1% to €143.2 Million as Chile Contributes, CESE Gas Levy Disappears and Electricity Demand Hits a 14.6 TWh First-Quarter Record

REN booked Q1 2026 net profit of €36.2 million, up 150.7% on the storm-hit Q1 2025 base. EBITDA rose 11.1% to €143.2 million, capex fell 29.9%, and electricity demand hit a 14.6 TWh first-quarter record. CESE-gas elimination added €10M of tax relief; Portgás CESE-2022 ruling added another €4.1M.

Tourism

Algarve Tourism Region Locks the New York Meeting With United Airlines Ahead of the 15 May 2026 Newark–Faro Restart — Four Weekly Polaris-Equipped Departures, an EUR 650 Economy Fare and a 9-Night Average US Stay Behind the Pitch

The Região de Turismo do Algarve held its New York meeting with United Airlines on Tuesday to consolidate the Newark–Faro direct route ahead of the 15 May restart. Four weekly Polaris-equipped flights, an EUR 650 economy fare and a 9-night US average stay sit behind the pitch.

Energy

Quercus, Gardunha Sul and Five Other Movements Stage a 13:00 Protest at APA's Castelo Branco HQ Over the Beira and Sophia Mega-Photovoltaics — 525 Hectares Already Carry a Negative DIA, Sophia's 425,600 Modules Still Under Analysis

Seven civil-society movements gathered at the APA delegation in Castelo Branco at 13:00 on 6 May to demand transparency on two contested mega-solar projects — the Beira plant (525 ha, already with a negative DIA) and Sophia (390 ha, 425,600 modules) — both straddling four Beira Baixa municipalities.

Justice

DIAP Lisboa Brings the Rato Torture Tally to 24 PSP Detainees as Two Chiefs and 13 Agents Are Held — Ten Months After the First July 2025 Operation, the Bairro Alto File Now Includes Crimes-of-Omission Charges Against Witnessing Officers

Tuesday's third operation in the Rato/Bairro Alto torture file added 15 PSP officers and one civilian to the detainee list, taking the running total to 24 and pulling two chefes inside the perimeter. The new charges include omission — agents who watched and did nothing.

Energy

Maria da Graça Carvalho Pre-Announces a Plan to 'Substantially Reduce' Portugal's Fossil-Fuel Dependence — 80.7% Renewables Electricity Already, ZAER the Operative Lever, Heavy Transport, Maritime and Aviation in the Renewable-Liquid-Fuels Channel

Maria da Graça Carvalho says the government will present 'very soon' a plan to substantially reduce Portugal's fossil-fuel dependency. With 80.7% of January electricity already renewable, the gap is transport and industry. ZAER zones are the lever — e-fuels the channel for ships and aviation.

Business

Corticeira Amorim's Q1 2026 Net Profit Falls 6.5% to €15.4 Million on a Sales Drop to €211 Million — But the Mosaic Reads Better Than the Headline as Net Debt Halves to €42.5 Million and the Board Locks a €25 Million Buyback From 11 May

Corticeira Amorim Q1 2026: net profit -6.5% to €15.4M on €211M sales (-8% reported, -6.8% ex-FX). EBITDA margin lifts to 17.3%. Net debt halves to €42.5M. Board signs off a €25M buyback from 11 May plus a €0.35-per-share dividend on 26 May.