The gains were largely due to capital gains from the sale of assets in Mexico and improved operating performance.
Iberdrola net profit made from 4133.9 million euros in the first half of the year, compared to 2,520.7 million in the same period of 2023, 64% more. The profits are largely due to the added value obtained from the sale of active in Mexico and improved operational performance.
As reported by the electric utility to the National Securities Market Commission (CNMV), gross operating income (EBITDA) amounted to 9,613 million euros, up 27%, but excluding the added value from Mexico, which contributes 1,717 to EBITDA recovery of the deficit of the British rate grows by 9% to €7,897 million.
The sales figure decreased by 13.8% and gross investments in the half-year reached EUR 5,276 million, up 16%, in line with the strategic plan.
With these results, the energy company has decided to accelerate its activities goals for the full year 2024 and expects double-digit net profit growth, excluding capital gains from asset rotation, thanks to the contribution of new investments in networks, tariff reviews in the United States, the United Kingdom and Brazil and the 1,600 renewable megawatts (MW) it has under construction.
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.
