Recorded the highest investments in its history, 12.3 billion euros in the last 12 months , mainly in the United States and the United Kingdom.
Net profit of 5,471 million euros and EBITDA of 13,269 million thanks to growth in countries with an A rating
Greater financial strength, with liquidity of 22.1 billion euros
The company consolidates its capitalization peaks , which are around 90,000 million

Iberdrola continues to set new historic milestones. The company, which this week presented its results for the first nine months, has made record investments of 12.3 billion euros in the last 12 months, which represents an increase of 13% compared to the same period last year. 

This has enabled the group to achieve a net profit of 5.471 billion euros by September 2024, which represents an increase of 50% compared to the same period of the previous year.

Gross operating profit (EBITDA) reached 13,269 million euros, representing a 23% increase over the same period last year. Recurring EBITDA grew by 11% to 11,551 million euros. The United States and the United Kingdom boosted the result, with increases of 25% and 15% in EBITDA, respectively.

The increase in results has been driven mainly by the increase in investments, the good performance of renewable generation and the results from asset rotation. 

The company has allocated around €4.4 billion to networks - an increase of 25% - in the first nine months. The network asset base now stands at €47.6 billion (including the UK's ENW), with the United States and the United Kingdom accounting for 60% of the total.

In addition, the company has invested 4 billion euros in generation and customers, which has enabled it to install more than 2,300 MW of renewable energy in the period.

Thanks to investments and new renewable generation, the company's production has reached a historic record, reaching 63,300 GWh in the first 9 months, which represents an increase of 7.4%. The electricity distributed by the company was also historic, with 177,943 GWh, 2.5% higher than in the same period of the previous year.

With these investments, the group has increased its presence in countries with an A rating in regulated businesses, obtaining 82% of the recurring operating profit from these regions.  

In its third quarter results presentation, the company set its profit forecast for the year as a whole at 5.5 billion euros, which represents an increase of 14% compared to the previous year (excluding any capital gains from asset rotations), driven by the new network tariff frameworks, the increase in installed capacity and the rise in long-term contracts.

In addition, Iberdrola has increased its interim dividend by 14%, to 0.23 euros per share, after having already reached the dividend floor for 2025, set at 0.55 euros - this year it has distributed 0.558 euros per share.

With great financial solidity

Business growth has been accompanied by financial strength. The company has increased its cash flow by 69%, to 13,821 million euros. Thus, the FFO/net debt has improved by 210 basis points, to 25.3%.

In addition, Iberdrola has liquidity of 22.1 billion euros, which would allow it to cover 20 months of financial needs without resorting to the market. 
Iberdrola has managed to reduce the cost of its debt by 14 basis points, to 4.84%.

Achieving the business plan and taking advantage of new opportunities

The president also wanted to highlight the positive evolution of the strategic plan , at a time when the company's capitalisation is around 90 billion euros and has good prospects from investment banks.

Iberdrola currently has 90% of its supply chain secured for grids and renewables until 2026. In fact, the company already has 100% of offshore wind contracts secured and 95% of grid contracts secured for 2026, while it is also securing purchases for 2027 and beyond.

In addition, the presentation of results highlights that Iberdrola is accelerating its strategic plan and taking advantage of new electrification opportunities. For this reason, it plans to increase its investment forecasts in renewables and networks in an environment of greater regulatory support. 

The company has increased its investments, mainly in the United States and the United Kingdom. Thus, it has completed the purchase of the British company ENW and has obtained the approval of Avangrid's shareholders for its merger.

In addition, Iberdrola will triple its offshore wind capacity to 6,500 MW by 2030, as the company has obtained two new offshore projects in the United Kingdom - East Anglia 2 and 3 - of 1,000 MW and one in the USA - New England - of 800 MW.

In addition, Iberdrola has a significant portfolio of long-term clients: it has signed long-term contracts for 5 million MWh in 2024 and supplies more than 10 TWh to technology companies. 

This is in addition to its role as a facilitator in the development of data centres, as it has 615 MW with guaranteed connection in Madrid and Aragon and a potential portfolio of 5 GW. For this reason, the company has developed a model of alliances, in which Iberdrola will have a minority stake, providing land, renewable assets, grid connection and long-term contracts with clean energy 24x7.

KeyFacts Energy: Iberdrola Energy Spain country profile