Iberdrola posted a 36% profit to 2.075 million, but warns of a slowdown in Spain

Iberdrola’s chairman, Ignacio Sánchez Galán, predicted at the shareholders’ meeting that it will continue to increase its investments and profits in the coming years. And the company’s accounts show that the road is complete. got electricity 2,075 million euro net profit in the first half of the year, which means pulling up 36% of last year’s registrations.

Iberdrola underlines this The very strong growth in earnings is due to the withdrawal of international trade in the United States, Brazil and the United Kingdom.and warning Slowdown of activity in Spain. The power company underlines that Net profit in Spain fell 26% between January and June Due to “high energy prices not passed on to customers through previously agreed fixed price contracts”.

company takes gross operating result (leaflet) that best measures the progress of the 6,444 million euro business in six months, with an increase of 18% compared to last year and growth in all markets in which it operates except Spain. this adjusted net financial debt dgroup at the end of the first semester 41,717 million euros14% up from June 2021 due to the investment effort of the period and the appreciation of currencies.

Iberdrola invested 4,741 million Euros, an increase of 5.3 percent between January and June, and reached 10,200 million in the last two months. 90% of investments are allocated to renewable and smart grids. Some investments have allowed the group to install 3,400 megawatts (MW) of new renewable capacity last year, with another 7,100 MW under construction.

Despite the uncertainty arising from the evolution of the war in Ukraine and fears of a global impact in the form of inflation and a slowdown in economic growth amid the energy crisis, Iberdrola continues its targets to generate a net profit of between 4,000 and 4,200 million euros this year (compared to the record 3,885 million last year) thanks to the strong increase in investments and the good performance of international trade.

Source: Informacion

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