Iberdrola recorded a net profit of 5.471 million euros until September, 50% more than the same period of the previous year, reach maximum levels thanks to a new investment record and the capital gains generated by the sale of assets in Mexico.
Furthermore, as communicated to the National Securities Market Commission (CNMV), its gross operating profit or (ebitda) reached 13.269 million euros23% more year-on-year, thanks to growth in “A” rated countries.
If we exclude the effects linked to the operation in Mexico and the recovery of the tariff deficit in the United Kingdom, the recurring net profit would amount to 4,305.4 million euros, or 22.4% more than during the first nine months of 2023.
This improves the group’s end-of-year forecast, which targets a net result, not counting capital gainsincreased by 14%, in line with the growth of the interim dividend, to 5,550 million euros, as a result of the new pricing frameworks for the networks, the increase in installed capacity and the increase in contracts in the long term.
Recurring EBITDA increases by 11% until September, to 11,551 million euros. 82% of this amount comes from countries with an “A” credit rating.
The company attributes the increase in results to good performance of renewable productioncapital gains resulting from asset turnover and increased investments.
In fact, according to the same source, the energy company reached the highest investments in its history, 12.3 billion euros, during the last twelve months, mainly in the United States and the United Kingdom.
In this topic, The Group’s performance is ahead of objectives of your strategic plan. Over the first nine months of 2024 alone, investments increased by 12% to 8.6 billion euros, with a greater weight of regulated activity.
Some 4.4 billion euros were allocated to networks – or 25% more – during the first three quarters. Currently, the power grid asset base already reaches 47.6 billion (including UK ENW), with the US and UK accounting for 60% of the total.
For his part, heturnover fell over this period 11%, to the tune of 33,116.8 million euros.
Increase the dividend
Iberdrola also increased its interim dividend by 14%, up to 0.23 euros per shareafter having already reached this year the floor for 2025, set at 0.55 euros – in 2024, it distributed 0.558 euros per security.
Business growth has been accompanied by financial strength. The company thus increased its cash flow by 69%, to 13,821 million euros. Thus, FFO/net debt improves by 210 basis points, to 25.3%.
The Spanish multinational It has liquidity of 22.1 billion euros, which would allow it to cover 20 months of financial needs without resorting to the market.
According to its data, it managed to reduce the cost of its debt by 14 basis points, to reach 4.84%.
A special mention is made in its report to the tax item, which amounts to 1,924 million euros until September, down 7.3%, due to the resumption of spending on social bonds for the years 2017-2021 and the hydroelectric gun. Excluding these two impacts, taxes would increase by 5.3%, to 2,186 million euros.
Increasing capitalization
The company highlights the evolution of its strategic plan, at a time when approximately 90,000 million euros of capitalization.
Currently, 90% of the supply chain is secured for grids and renewable energy until 2026. The energy company plans increase your investment forecast in these two technologies in an environment of greater regulatory support.
Iberdrola has closed its doors long term contracts of 5 million megawatt hours (MWh) in 2024 and provides more than 10 terawatt hours (TWh) to technology companies.
Added to this is its role as a facilitator in the development of data centers, since it has 615 megawatts (MW) with a secure connection to Madrid and Aragon and a potential portfolio of 5 gigawatts (GW).
