Wind – The US and Brazil boosted record Iberdrola earnings

Wind – The US and Brazil boosted record Iberdrola earnings

Iberdrola’s EBITDA (Ebitda) was €13,230 million, up 10% on the same comparative basis, according to income statements The multinational company introduced it this week. This number exceeds the forecast given by the company by more than 300 million.

The increase in profits is due to the growth achieved in countries such as the United States and Brazil, which compensated for the negative performance in Europe, and the growth of its investments (90% dedicated to networks and renewable energy sources) which increased by 13% compared to the previous year to reach 10.730 million. 20% of these investments were made in Latin American countries and another 25% in the United States. In Spain, the company has invested around 3,000 million euros.

For its part, the network’s asset base increased by 19% compared to the same period in the previous year, reaching 39.2 billion euros. Said asset base is split between the US, at 31% of the total; the United Kingdom and Spain at 24% each; and Brazil, at 21%.

“In a challenging environment, Iberdrola’s geographic diversification returned to stable growth. The impact of the energy crisis in the European Union was offset by the good performance of the rest of the markets, particularly the United States and Brazil,” stated the company’s president, Ignacio Galán, in presenting the results.

The company plans to invest €11,000 million in 2023, which will allow it to increase its renewable installed capacity (currently 40,000 MW) by 3,000 MW and continue to increase its network asset base, which already exceeds €39,000 million.

Based on these good results, Iberdrola has announced that it will propose to the next general meeting of shareholders a supplementary bonus of €0.31 per share, which represents a total bonus of €0.49 total per share by 2022.

Leave a Reply

Your email address will not be published. Required fields are marked *