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Iberdrola profits increase 12%

Published on Oct. 26, 2012

Read 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 ...

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