S&P maintains BBB+ rating for Iberdrola
S&P Global confirmed the long-term credit rating “BBB +”, with a “stable” outlook for Iberdrola, backed by “solid” operating performance in 2018 and in 1Q2019.
Iberdrola
Iberdrola upgrades its guidance for the year following good results
Bankinter | Good results for Iberdrola in Q1 2019, beating market estimates. The principal figures compared to the Bloomberg consensus are: income 12.599 billion euros (+12%) vs 2.494 billion euros; EBITDA 2.599 billion euros (+12% vs 2.494 billion euros; EBIT 1,632 billion euros (+185) vs 1.533 billion euros; Net Annual Profit 964 M€ (+15%) vs 871 M€; funds generated by operations 2.037 billion euros (+8.5%); Net debt 35.559 billion euros (vs 34.217 billion euros in December 2018).
Iberdrola issues bonds in Brazil
Bankinter | Iberdrola is preparing a bond issuance in Brazil. The Spanish company’s aim is to secure financing for its Brazilian subsidiary’s new investments. Among these investments, the adjudication of network projects valued at €1.380 billion stands out.
Endesa And Iberdrola Agree To Buy Gas From The US For 20 Years
Endesa and Iberdrola will next month begin to receive the first gas tankers from the Corpus Christi gas liquefaction plant, after this installation received the necessary permits for putting into function its first convoy. In this way, both Spanish companies put in action agreements of above 10 billion euros for the purchase of gas over the next 20 years.
Spanish Utilities’ Regulator Wants To Control Debt And Dividends
The National Markets and Competition Commission (CNMC in its acronym in Spanish) is processing a circular so that all energy companies which supply electricity, gas and hydrocarbons meet six ratios which constrain their level of debt and dividends in relations to the volume of assets, cash flow, EBITDA or financial costs.
Iberdrola Will Sign A Global Agreement With Nissan To Promote Electric Cars
Iberdrola and the Japanese car maker are preparing a joint project to develop the chargers for electric cars, thanks to the intelligent networks infrastructure of the Basque electrical company. The final objective is that Iberdrola’s networks should support the charging for Nissan’s electric cars, for whom the “Nissan Leaf Zero Emission” is its main bid for an electrically powered saloon.
Iberdrola Adjusts The Sale Price Of Scottish Power To Drax To Share Risks And Adapt To European Justice
The Spanish utility agreed to modify the initial agreement to sell part of the electricity power stations of its subsidiary Scottish Power to Drax Group. This firm sought to renegotiate the contract following an European Court of Justice ruling that declared illegal the payments to some UK stations to guarantee the capacity of electricity generation in the country.
Iberdrola Inaugurates its First Offshore Project In Germany, 100% Designed And Operated By The Firm
Iberdrola began operations yesterday in the maritime wind farm Wikinger in the waters of the Baltic in Germany, which supposes the first maritime wind power project built by the group on its own, with an investment rising to 1.4 billion euros. With an output of 350MW, this wind farm represents the first phase in a larger wind power complex, of 836 MW and with a joint investment of 2.5 billion euros.
Iberdrola’s operating net profit grows 38% ; protects hydro and nuclear assets from regulatory reform
Even though Iberdrola reported net profits of €2.09 Bn in the first nine months of 2018, which means 13.5% less than in the same period of 2017, the group’s net ordinary profits, excluding extraordinary incomes, represented 38% more up to €2.05 Bn. The company also explained its hydroelectric and nuclear assets are not completely amortised.
Blackrock second shareholder in Iberdrola with 5%
Blackrock, the largest fund manager in the world, has raised its holding in the electricity company to 5.008% from the 4.998% it held, and remains the second largest shareholder behind the sovereign wealth fund Qatar Investment Authority (QIA).