January 24, 2021

Iberdrola earns 2.091 million in September, down 13.5%, due to the absence of extraordinary

Iberdrola earns 2.091 million in September, down 13.5%, due to the absence of extraordinary


Iberdrola obtained a net profit of 2,091 million euros in the first nine months of the year, which represents a fall of 13.5% with respect to the same period of the previous year, due to the absence of extraordinary items, the company informed the National Securities Market Commission (CNMV).

During the past year the power company registered 759 million euros of extraordinary extraordinary items corresponding to the merger of Siemens Gamesa, Neoenergia capital gains or the revision of the price of gas supply contracts in Spain.

Thus, the ordinary net profit of the group, excluding these extraordinary items, was 2,051.3 million euros during the first nine months of the year, representing an increase of 38% with respect to the same period of the previous year.

The gross operating profit (EBITDA) of Iberdrola at the end of September stood at 6,720 million euros, an increase of 22.5% due, mainly, to the good performance of the international business, which contrasts with the worst performance in Spain.

Iberdrola reiterated that the results obtained in September allow it to confirm the forecasts for the end of the year of an Ebitda higher than 9,000 million euros and a net profit of 3,000 million euros for the closing of 2018.

For its part, the Generation and Clients business in Spain, whose net position is energy buyer by having more market than its own generation, reduced its results in an environment of higher prices in the wholesale market, and a rise in raw materials and prices. of CO2 emission rights.

Meanwhile, the investments of the group chaired by Ignacio Sánchez Galán amounted to 3,645 million euros in the period, of which about 80% went to the Networks and Renewables businesses, according to the company's strategy.

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