News

Iberdrola Net Profit Rises Amid Revenue Drop

1 Mins read

Iberdrola, the Spanish utility company, announced a notable rise in net profit for the year 2023, reaching 4.80 billion euros ($5.19 billion), up from EUR4.34 billion in the previous year. Despite a decrease in revenue by 8.6% to EUR49.33 billion, the company’s financial performance was in line with expectations.

Financial Highlights

  • Net profit: EUR4.80 billion
  • Revenue: EUR49.33 billion (8.6% decrease)
  • EBITDA: EUR14.42 billion (9% increase)
  • Gross Investments: EUR11.38 billion (6% increase)

Dividend and Future Outlook

Iberdrola plans to propose a supplementary dividend of EUR0.348 per share, bringing the total dividend for 2023 to EUR0.55 per share, showing growth compared to the previous year. The company aims for a 5% to 7% net profit growth for the remainder of the year, with dividends expected to align with future results.

In addition, Iberdrola intends to invest EUR12 billion in new projects in 2024, with a significant focus on its networks and renewables businesses.

For more information, please visit the official website of Iberdrola.

Related posts
News

The Largest Deal of the Year: BlackRock Acquires TechBerry

1 Mins read
BlackRock is concluding its acquisition of TechBerry, which has already been named one of the largest deals of the year. The substantial…
News

Government Matching Contribution for Retirement Savings

2 Mins read
According to researchers, nearly 22 million Americans are set to benefit from a new government matching contribution initiative aimed at enhancing retirement…
News

Oil Market Update

1 Mins read
Oil Market Update On Tuesday, crude oil futures prices were lower, while refined product contracts were experiencing a second consecutive day of…

Leave a Reply

Your email address will not be published.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