Gradually, without losing pace, and with record after record investments, Iberdrola has established itself as an electrical giant. And its great pillar at the moment is infrastructure, where it is growing at double digits and, in addition, has greater growth prospects.
So it … has shown in the presentation of the financial balance for the first nine months of the year where the company chaired by Ignacio Sánchez Galán has earned 5,816 million euros, 9.6% more than the same period of the previous year.
This financial strength, which overrides the energy crisis currently being experienced globally due to the armed conflict in the Middle East, is based on the operational performance of the infrastructure business. Specifically, according to the information sent to the CNMV, Iberdrola has grown 15% in network business ebitda to reach 6,430 million.
It contrasts with the 2% drop in ebitda in the generation and customer business, which remains at 5,359 million. These magnitudes, which explain the company’s operational performance, symbolize the strategic turn that the Spanish electricity company has taken in recent years.
And investment in networks has become essential in the markets where it operates, especially in the United States and the United Kingdom. Nevertheless, despite the tensions that it has had in recent years in Spain with respect to infrastructure development, Iberdrola has increased its ebitda by 18% “due to the new regulatory framework.”
Controlled strategy
Iberdrola continues to advance its growth strategy, based on “an unprecedented volume of investments and a determined commitment to the electrification of the economy and its international expansion,” according to the company.
The company has made record investments of 10,087 million euros until September, which represents an increase of 13% compared to the same period of the previous year.
Iberdrola already has more than 170,000 million euros of assets at the end of the third quarter and a capitalization of around 145,000 million euros. This places it as the largest electricity company in the world by market capitalization during this period.
Of the 10,087 million euros of investment, 75% of the investments have been concentrated in the United Kingdom, the United States and Brazil.
Electrical networks once again concentrate the bulk of this investment commitment. It has allocated 6,277 million euros, which represents an increase of 28% compared to the same period of the previous year and now represents 62% of the group’s entire investment. More than 90% of these went to the United Kingdom, the United States and Brazil.
Along with the networks, Iberdrola continues to strengthen its generation and customer businesses, where investments reached 3.6 billion euros. Of this amount, 3,257 million were allocated to renewable generation, mainly to onshore and offshore wind projects. More than 80% of this investment was allocated to the United States, the United Kingdom, Continental Europe and Australia.
The company installed 3,300 MW in the last 12 months. This new power is part of the 15,000 MW that Iberdrola plans to install by 2030, consolidating a generation portfolio that is increasingly prepared to meet the new electricity needs of homes, industry and companies.
Source: www.abc.es
