Iberdrola earns 13.5% less until September, but maintained its forecast of 3,000 million in 2018

Iberdrola posted a net profit of 2.091 million euros in the first nine months of the year, which represents a fall of 13.5% compared to the same period of the p

Iberdrola earns 13.5% less until September, but maintained its forecast of 3,000 million in 2018

Iberdrola posted a net profit of 2.091 million euros in the first nine months of the year, which represents a fall of 13.5% compared to the same period of the previous year, due to the absence of extraordinary items, the company reported to the Commission National of the Market of Values (CNMV).

During the last fiscal year, the energy registered 759 million euros of extraordinary items positive corresponding to the merger of Siemens Gamesa, capital gains of Neoenergia or revision of the price of gas supply agreements in Spain.

So, the net profit ordinary 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% compared to the same period of the previous year.

The gross result of exploitation (Ebitda) of Iberdrola at the end of September it stood at the 6.720 million euros, an increase of 22.5%, mainly due to the good performance of the international business, which contrasts with the poor performance in Spain.

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

For its part, the Generation business and Customers in Spain, whose net position is the buying power to have more market generating their own electricity, reducing their results in an environment of higher prices in the wholesale market, and rising raw materials and CO2 emission rights.

Meanwhile, the investments of the group presided over by Ignacio Sánchez Galán amounted to 3.645 million euros in the period, of which nearly 80% was allocated to the business Networks and Renewables, according to the strategy of the company.

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Updated Date: 26 October 2018, 19:35

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