Iberdrola Net Profit Rises Amid Revenue Drop

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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.

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