Iberdrola’s net profit increased by 17% during the first nine months of 2023, to 3,637 million euros, impacted by the deferred tax from the sale of the Mexican business, without this extraordinary, it would have reached 3,640 million euros , 22% more.
The operating result reached 10,783 million, 13.2% more, “thanks to a positive adjustment in network rates and the improvement in the production of renewable energy in the European Union,” as the company explained in the information. communicated to the National Securities Market Commission (CNMV) this Thursday.
Billing for the period reached 37,193 million euros, 1.9% less. The debt result increased by 13%, 374 million euros due to the impact of the depreciation of currencies against the euro.
The company forecasts double-digit net profit growth by 2023 (excluding any additional capital gains from asset turnovers). Assets will reach 150,000 million euros in 2023. In addition, it increases the interim profit for its shareholders by 11%, up to 0.20 euros per share.
The company highlights the strong investment effort during the period that reached 11,000 million euros in the last year. “The execution of the strategy presented last November is allowing us to grow, preserve financial solidity and increase the dividend,” says Ignacio Galán, president of Iberdrola.
Network assets reach 41.3 billion euros with growth in geographies with stable and predictable frameworks.
Likewise, renewable capacity stands at 41,300 MW, thanks to the incorporation of 3,100 new MW in the last 12 months.
In Spain, turnover increased by 17%, to 1,504 million euros, with an operating result before taxes of 1,499 million, 18% more. “The Gross Margin of the Network Business in Spain increases by 17.9% to 1,499.6 million due to the registration in 2022 of an extraordinary related to a possible judicial decision on certain assets (which subtracted 203 million), which was regularized at end of the year and that the Supreme Court has ruled favorably for Iberdrola on September 26, 2023,” explains the company in the information presented to the market this Thursday.
