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Iberdrola profits increase 12%

Published on Oct. 26, 2012

Iberdrola profits increase 12%

In the 3 first quarters of this year, Iberdrola has achieved a 2,401 million Euros net profit, which means a 12% increase over the same period last year. This increase contrasts with the 36% drop of profits in Spain.

This national fall was due to a cutting in networking compensation, a decision passed by the Government in March, but yet to come into force. The cutting does not take into account the effect of the new fiscal measures on the production.

Fortunately for Iberdrola, their turnover in Spain represents only 25% of the group net profit, 616 million Euros. The rest comes from international commerce, which rose 52% in the same 9 months, up to 1,785 million Euros.

The gross operating result (calculated with the EBITDA metric) reached 5,777.8 million Euros, 3.4% higher than a month ago. In addition, it was a particularly good year for the renewable energy, which grew 16.4%. 1,181.8 million Euros. Networks market’s EBITDA was 2.1% higher, 2,899.8 million Euros. On the negative side, production and commerce dropped 1.7%.

The sales achieved 25,000 million Euros, 8% increase, along with 5.3% increase in the gross margin level, 9,291.1 million Euros.

On the other hand, investment sharply dropped 67%, up to 2,083 million Euros, which the company assigned to networks (67%), renewable energies (19%) and production and commerce (14%). Besides, divestitures are now at 300 million Euros to strength the financial position.

Iberdrola has focus during these nine months on having a firm and secure balance, and in consequence the company has now over 11,000 million Euros liquid assets, enough to cover any financial need over the next 36 months.

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IBERDROLA es el primer grupo energético español, una de las cinco mayores compañías eléctricas del mundo y líder mundial en energía eólica. Cuenta ...

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