Iberdrola postpones its Investor Day, scheduled for March 22nd, in light of the current context


Bankinter | The company has decided to postpone sine die its Investor Day, during which it gives an update on its earnings outlook, dividend and strategic coordinates. This year’s Investor Day was set for Tuesday 22nd March. The company is maintaining current estimates for its future performance.

Analyst team’s opinion: Iberdrola’s decision to postpone its annual meeting with investors is logical. The group is facing a high level of uncertainty on two fronts. On the one hand, the evolution of the conflict in Ukraine and its subsequent impact on the market and energy prices at a global level. On the other, the impact of the measures which the Government might take to rein in the sharp rise in the price of eletricity, gas and fuels. In this context, it is difficult to establish goals and earnings estimates. Although Iberdrola is keeping in place its strategic lines, the fact it is not updating its objectives for months takes away visibility from the company, particularly at a time of so much tension in the energy markets. Whatsmore, the market was counting on a possible upwards revision of estimates in its Strategic Plan update, after the release a few weeks ago of the group’s 2021 results. They beat its guidance for the year by 8%. This is not the first time that Iberdrola has postponed its Strategic Plan update. It happened in 2020, when the Covid-19 pandemic broke out. At that time, the meeting with investors, also scheduled for March, was put back to November.