Iberdrola will achieve net profit of $5.471 million through September, up 50% from 2023.
Over the past 12 months, the company has made a record investment of €12.3 billion, up 13% on the same period the previous year.
Iberdrola registered net profit 5.471 million euros up to September, an increase of 50% compared to the same period of the previous year, due to certain investments record and a capital gain of one million dollars obtained from the sale of assets in Mexico (1,165.2 million euros).
As the company explained in a note this Wednesday, its gross operating profit (Ebitda) reached EUR 13,269 million, up 23% year-on-year, driven mainly by a 25% increase in organic grid investment over the past nine months, as well as renewable energy production at historical highs and the results of asset rotation . Ebitda is a financial indicator that shows a company’s operating results before interest, taxes, depreciation and amortization.
According to this information, the energy company has reached investments highest ever, €12.3 billion, in the last twelve months, mainly in the US and UK.
On the other hand, his turnover fell by 11% to 33,116.8 million.
President of Iberdrola, Ignacio Sanchez Galanpraised the “positive evolution” of the business: “The implementation of the strategy presented last November allows us to grow, maintain financial strength and increase dividends.”
In this context, Iberdrola has decided to improve its forecasts for 2024, according to which it targets profits of 5.5 billion euros for the full year, representing an increase of 14% compared to the previous year.