As the company reports, the high profits are due in large part to the $1 million capital gains recorded on the sale of assets in Mexico.
In the first quarter of the year, Iberdrola recorded a net profit of 2.76 billion euros86% more than in 2023, although this figure includes 1,165 million euros from the sale of active in Mexico and 238 for the recovery of the UK tariff deficit.
In a statement sent to the National Scholarship Commission (CNMV), Iberdrola indicates that if these two elements had not been taken into account, profits would have grown by 28%.
The group sales They amounted to 12,678.5 million euros, 18% less than a year earlier, and the EBITDA (earnings before interest, taxes, depreciation and amortization) at 5,857 million euros, although the figure is 4.14 billion if the operation in Mexico is ignored.
On the other hand, the financial debts Iberdrola’s adjusted net profit at the end of March was 44,998 million euros, down 5.9% compared to December 2023 thanks to the collection from Mexico sales.
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.
