Iberdrola Exceeds Its 2021 Targets With Record Profits Of €3885 Million | Economie

Iberdrola achieved a record net profit of 3,885 million euros in 2021, which is an 8% increase over the previous year, exceeding its targets for this year, the company said.

The energy company highlighted that this increase in profit last year, which has been set at a target of 3,800 million euros for 2021, is mainly due to the good operating performance in the United States and Brazil, as well as to the new installed capacity. As a greater weight to the network’s regulated assets and financial strength.

The Group’s (Ebitda) gross operating profit exceeded 12 thousand million euros last year, a growth of 20% compared to 2020, driven by networks and renewable generation. With this number, the company presents its estimate of its overall profit for 2022 by one year.

In this way, Iberdrola indicated that good results for 2021 and future prospects in the renewable business allow it to reconfirm growth forecasts for 2022, the year in which it expects to generate a profit of 4,000-4,200 million euros.

The group headed by Ignacio Sanchez Galán boosted its investments in 2021 to a record 9,940 million, up 3% from the previous year.

90% of them are allocated to the development of new renewable energy (44%) and to smart grids (45%). By markets, more than half was directed to the United States (28%) and Spain (24%), worth €2,736 million and 2,386 million, respectively.

Galan considered that accelerating investments would allow the group to “grow at a higher rate than expected.” “These results reflect the success of a sustainable model and encourage us to continue working towards a low carbon economy,” he added.

De esta manera, la compañía aceleró la construcción y la puesta en marcha de renovables, con más de 4.300 millones de euros de inversión para la instalación de casi 3.500 megavatios (MW) ‘verdes’ en 2021, alcanzando así los capacidad 38.000 MW everybody. Meanwhile, the capacity under construction reaches 7800 MW, of which 2,600 MW are offshore wind farms.

With these results, Iberdrola was able to increase shareholder bonus by 5%, to €0.44 per share for the year. Thus, the Board of Directors will propose to the general meeting of shareholders a supplemental dividend of 0.27 euros gross per share, to which the interim dividend of 0.17 euros per share paid in February must be added.