(Updating conference details)
MADRID, October 23 (.). – Iberdrola (BME:) posted a net profit of 5,471 million euros by September, an increase of 50% year-on-year, thanks to the sale of active products in Mexico and Mexico Achieved maximum level. This coincides with new investment records.
Moreover, as reported to the National Securities Market Commission (CNMV) this Wednesday, the company’s total operating profit or (EBITDA) increased by 23% year-on-year to 13.2 billion yen thanks to growth in the rated ‘TO’ country. It reached 69 million euros. .
Excluding the impact of operations in Mexico and the recovery of the UK customs deficit, recurring net profit is expected to be 4,305.4 million euros, an increase of 22.4% on the first nine months of 2023.
This improves the Group’s year-end forecast, which aims for net profit excluding capital gains to rise by 14% to €5.55 billion, in line with the increase in interim dividends, as a result of the new network pricing structure. This is an increase in installed capacity and an increase in long-term contracts.
Recurring EBITDA increased by 11% to €11,551 million by September. 82% of this comes from countries with ‘A’ credit ratings.
The company attributed the increase in performance to strong performance in renewable energy generation, capital gains from asset rotation, and increased investments.
In fact, according to the same sources, the energy company has reached an all-time high of €12.3 billion in investments in the past 12 months, mainly in the US and UK.
In this respect, the Group’s performance exceeds the objectives of the strategic plan. In the first nine months of 2024 alone, investments increased by 12% to €8.6 billion, with a greater weight in regulated operations.
In the first three quarters, around 4.4 billion euros were allocated to the network, an increase of 25%. Currently, the power grid asset base has already reached 47.6 billion (including the UK’s ENW), with the US and UK accounting for 60% of the total.
Meanwhile, sales for the period decreased by 11% to 33,116.8 million euros.
Iberdrola President Ignacio Sánchez Galán praised: “These results reflect the positive signs felt in recent quarters and confirm the solid trends and double-digit growth in key financial indicators.” .
In a conference with analysts, Sánchez Galán announced that the next Capital Markets Day will be held in autumn 2025. By then, the group will be able to fully integrate Electric Northwest and provide updated growth targets.
raise dividends
Iberdrola also increased its interim dividend by 14% to 0.23 euros per share, after already reaching the 2025 floor of 0.55 euros this year. In 2024, the company paid a dividend of 0.558 euros per share.
Business growth comes with financial strength. In this way, the company’s cash flow increased by 69% to up to 13,821 million euros. Therefore, it improved by 210 basis points, or up to 25.3%.
Spanish multinationals have 22.1 billion euros of liquidity, which allows them to meet 20 months’ worth of funding needs without relying on the market.
According to the data, it managed to reduce its debt cost by 14 basis points, reaching 4.84%.
Precisely, as stated in the presentation on the “guidance” or net debt forecast, Iberdrola plans to complete a further asset rotation of approximately 2 billion euros from December to the first quarter of 2025, This decision was driven by strategic planning. , published in March.
A separate mention was made of the tax component of the report, which showed that due to a recovery in spending on social bonuses and hydropower between 2017 and 2021, the tax amount fell by 7.3% to 1.924 billion euros by September. There is. Excluding both effects, taxes would have increased by 5.3% to €2,186 million.
historical capitalization
The company highlights the evolution of its strategic plan at a time when its capital is approximately 90 billion euros.
Currently, 90% of the supply chain is reserved for networks and renewable energy until 2026.
Iberdrola has signed a long-term contract for 5 million megawatt hours (MWh) in 2024, supplying more than 10 terawatt hours (TWh) to technology companies.
Add to this its role as a catalyst for data center development, with a potential portfolio of 615 megawatts (MW) and 5 gigawatts (GW) with secure connectivity in Madrid and Aragon .
