Gross operating profit increased by 13% and amounted to 10,783 million in September. Furthermore, after investments of approximately EUR 11 billion, the company has increased its network assets by 9% to EUR 41.3 billion, and installed 3,100 renewable MW.
Iberdrola has one net profit of 3,640 million euros in the first nine months of 2023, representing a growth of 17% compared to the same previous period and 22% excluding the extraordinary derivative of the sale of part of the activities in Mexico, as explained by the company in a remark.
He gross operating profit (Ebitda) increased by 13% to 10,783 million euros as of September, driven by “a diversified growth model, solid project execution and greater financial strength.”
Continue after a few investments amounting to approximately 11,000 million euros – specifically they amounted to 10,842 million euros in the last twelve months – the company has increased network assets by 9% to 41,300 million euros and installed 3,100 renewable MW.
The president of the energy company, Ignacio Sanchez Galanhighlighted the positive evolution of the company: “The implementation of the strategy presented last November allows us to grow, maintain financial strength and increase the dividend.”
In this way, the electricity company has improved its net profit forecasts for 2023 to double digits “driven by increased production and new renewable capacity, the normalization of commercial activity, the increase in tariffs in the network activities and despite the complex macroeconomic context” . The assets will reach 150 billion euros by the end of this year.
On the other hand, the company appreciates that “the company’s growth has been accompanied by financial strength.” For example, it explained that it has once again strengthened its balance sheet over the past nine months with almost 6 billion euros in financing. Furthermore, it has a liquidity of 20.204 million euros, which would allow it to cover 21 months of financial needs without resorting to the market.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
