Iberdrola increased profits by 17% and predicts a new profit record by the end of the year

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Iberdrola made a net profit of 3 billion 640 million euros In the first nine months of 2023, this 17% growth Excluding the outstanding derivative of the sale of part of the business in Mexico, which increased by 22% compared to the same previous period, according to the statement filed with the National Securities Market Commission (CNMV). person who is The company’s best result in the first nine months of the year Takes Iberdrola improve your predictions By reaching double digit figures at the end of the year, it is on track to break a new profit record at the end of the year, after a profit of 4 billion 339 million euros in 2022.

The energy company also made a statement. 11% increase in dividends After reaching the 2025 dividend floor this year, up to 0.20 euros per share based on 2023 results.

The electric company uses these figures as “increased production and new renewable capacity“, as well as “despite the normalization of business activities, the increase of rates in network business and the complex macroeconomic context.” Electricity production amounted to 125,345 megawatt-hours, an increase of 2.4% compared to the same period last year. In others, such as combined cycles, where the company has less capacity a greater role of hydropower (14% more) compared to the decline (8.3% less) Iberdrola’s installed capacity increased by 3.6% to 62,102 megawatts (MW).

Gross operating profit (EBIT) increased by 13% to 10 billion 783 million Euros as of September. diversified growth model, solid project execution and greater financial strength“. While investments were around 11 billion euros, they were at the level of 10 billion 842 million euros, especially in the last twelve months. “The implementation of the strategy presented last November allows us to grow, maintain financial soundness and increase the dividend,” said Ignacio Sánchez Galán, president of the energy company, as stated in the statement.

Networks and renewable resources

By business areas, network assets reach: 41.3 billion euros as of September regulatory frameworks have closed to 96% by 2025. Iberdrola has guaranteed 85% of the network supply chain by 2025; This rate increases to 100% in transportation projects. Installed power in renewable energy increased by 3,100 MW in the last 12 months, reaching 62,102 MW, of which 8,000 MW is under construction.

Another notable business is offshore wind, which will reach 3,100 MW in 2025 and 4,800 MW in 2026/27. The company has 3,500 MW under construction. 10 billion euro investment. In addition, it meets deadlines with a secure supply chain and 100% of energy sold through contracts over a period of 15 to 20 years. This technology will contribute 1,900 million euros to Ebitda in the period 2026-2027, compared to 700 million euros in 2022.

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