Spain’s Three Biggest Utility Firms Earned 30% Less In 2015

Spain’s three biggest utility companies, Iberdrola, Endesa and Gas Natural, earned 30% less in 2015, recording a combined profit of € 50,09 billion in 2015, 29.6% less than a year earlier.

The drop in the profits was mainly due to the lack of capital gains booked by Endesa compared with 2014, when it sold its LatAm business to Enel for € 1.764 billion.

Iberdrola posted the best results in 2015: it earned € 2.421,6 billion, up 4.1% year-on-year, while Gas Natural earned € 1.502 billion.

Endesa’s 2015 net profit stood at € 1.086 billion compared to € 3.337 billion in 2014.

In homogeneous terms, Endesa’s after tax profit (in Spain and Portugal only) grew 15.6% from a year earlier.