The company has made a record investment of 12.3 billion euros in the past twelve months, which represents an increase of 13% compared to the same period of the previous year.
Iberdrola registered a net profit of 5,471 million euros until September, 50% more than in the same period of the previous year, driven by some investments record and by the capital gain of one million dollars generated by the sale of assets in Mexico (1,165.2 million euros).
As the company explained in a note on Wednesday, it is gross operating profit (Ebitda) reached 13,269 million euros, up 23% year-on-year, mainly due to a 25% increase in organic network investments over the past nine months, as well as renewable production at historic highs and asset rotation results. Ebitda is a financial indicator that shows the company’s results before paying interest, taxes, depreciation and amortization.
According to this information has reached the power company investments the highest in its history, 12.3 billion euros, in the last twelve months, mainly in the US and the UK.
On the other side: his sales fell by 11% to 33,116.8 million.
The President of Iberdrola, Ignacio Sanchez Galanhas appreciated the “positive evolution” of the company: “The implementation of the strategy presented last November allows us to grow, maintain financial solidity and increase the dividend.”
In this context, Iberdrola has decided to improve its forecasts for 2024, targeting a profit of 5.5 billion euros for the whole year, which represents an increase of 14% compared to the previous year.
Source: EITB
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