Iberdrola increases its profits as of September by 17%, up to 3,637 million, and aims for a new record profit

Forecasts double-digit net profit growth by 2023

MADRID, 26 Oct. (EUROPA PRESS) -

Iberdrola recorded a net profit of 3,637 million euros in the first nine months of the year, which represents an increase of 17.2% compared to the same period last year - 22.4% excluding the extraordinary one derived from the sale of part of the business in Mexico-, the company reported.

The gross operating result (Ebitda) of the energy company chaired by Ignacio Sánchez Galán grew by 13.2%, reaching 10,783 million euros at the end of September due to higher production volumes, the higher load factor and efficiency operational, along with lower energy purchases.

Iberdrola's gross investments reached 10,842 million euros in the last 12 months, with RAB growth in the network business of 9% to 41,200 million euros and having installed 3,100 renewable megawatts (MW) in the last twelve months, until reaching a total of 41,300 MW.

With these results at the end of September, the company foresees double-digit net profit growth for 2023 (excluding any additional capital gains from asset rotations). Thus, it aims for a new profit record for this year, after the profit of 4,339 million euros in 2022. Assets will reach 150,000 million euros in 2023.

For its part, the group's adjusted net financial debt stood at 47,951 million euros at the end of September, increasing by 8.3% compared to September 2022 due to the investment effort of the period and the evolution of exchange rates.

The president of the company, Ignacio Sánchez Galán, considered that the execution of the strategy presented last November "is allowing the group to grow, preserve its financial strength and increase its dividend."

Thus, after already reaching the dividend floor for 2025 this year, the energy company increases its interim dividend for 2023 - which will be distributed in January - by 11%, to 0.20 euros per share, compared to 0.18 euros for 2022 title.

The complementary dividend will be added to this, once approved at the General Shareholders' Meeting. The total dividend charged to 2022 has already reached the floor established for 2025 in the strategic plan announced in November of last year.

((THERE WILL BE AN EXPANSION))