Iberdrola registers 5,471 million in profits until September, 50% more compared to the same period in 2023

Iberdrola registered a net profit of 5,470.7 million euros in the first nine months of the year, which represents an increase of 50.4% compared to the same period of the previous year, driven by the millionaire capital gains recorded with the sale of assets in Mexico, reported the company, which has thus decided to once again improve its forecasts for 2024 in which it aims for new record profits and dividend.

Excluding the capital gain from Mexico, which represented 1,165.2 million euros, the net profit of the energy company would stand at 4,305.5 million of euros, increasing by 18.4% compared to the first nine months of 2023 and, in recurring terms (also excluding the recovery of the deficit of UK rate and the provision for taxes in Mexico in 2023) 22%.

The gross operating result (Ebitda) of the energy company increased by 23% in these first nine months, up to 13,269 million euros, driven mainly by a 25% increase in organic investments of networks in the last nine months – with the asset base of electrical networks already reaching 47,600 million (including ENW) –, as well as renewable production at historical highs thanks to new investments and results from asset rotation.

The investments reached the record figure of 12.3 billion euros13% more, mainly in networks and renewables in the United States and the United Kingdom.

Up to 5.5 billion benefits in 2024

In this way, the group chaired by Ignacio Sánchez Galan once again improved its expectations for 2024 and has set profit forecast for the entire year at 5,500 million euros, which represents an increase of 14% compared to the previous year – excluding any capital gain from asset rotations -, driven by the new tariff frameworks for the networks, the increase in installed capacity and the increase in long-term contracts.

In addition, it has increased its interim dividend by 14%, to 0.23 euros per share, after already reaching the dividend floor for 2025 this year, set at 0.55 euros – this year it has distributed 0.558 euros per share.