Iberdrola

Spanish economy 28th February 2025

Iberdrola’s profit increases 17% to €5,612M in 2024 thanks to regulated network assets and tariff revisions

Bankinter | Results and guidance surprisingly positive. Dividends on the rise. Dividend yield 2025 4.90%. Key figures compared with consensus: total EBITDA €16,848M (up 17%) versus €16,243M est.; NBI €5,612M (up 17%) versus €5,550M estimated; adjusted NBI €5,530M up 15%. Funds generated by operations: €11,836 million (up 10%); Net Debt €51,700 million versus €47,914 million in December 2023. The dividend per share on 2024 results rises 15% to €0.6350/share. The…

Spanish economy 23rd January 2025

Iberdrola chairman says dividend can grow every year and electricity demand will continue to rise

Bankinter | In an interview at the Davos Forum, the company’s chairman Ignacio Galán said that “it is perfectly possible to grow and pay a higher dividend every year”. He considers the commitment to the dividend and the profitability of the 350,000 small investors who are Iberdrola shareholders to be a priority for the group. Galán anticipates that the demand for electricity will grow in the coming years as growth…

In Spain 18th December 2024

Spain: PNV refuses to support extraordinary tax on energy companies

Reconciling the support of center-right nationalist parties, such as the Basque Nationalist Party (PNV) or Junts per Catalunya (the party of the fugitive Puigdemont), with that of extreme left parties (Podemos, Sumar…) was possible a year ago, to elevate Pedro Sánchez to the presidency of the Government despite having lost the elections. Spain has never had a weaker government, more willing to stay in power by making the necessary concessions…

In Europe 10th December 2024

Iberdrola obtains production licence for construction of Portugal’s largest wind farm, with around €350-million investment

Link Securities | Iberdrola (IBE) has obtained the production licence from Portugal’s Directorate General of Energy and Geology (DGEG), marking another step towards the construction of Portugal’s largest wind farm, Bolsamanía reported on Monday. The project, located in the districts of Vila Real and Braga in the north of the country, which combines wind and hydro power, has a total investment of around €350 million. With an installed capacity of…

In Europe 25th November 2024

Iberdrola, among 12 bidders shortlisted by French government to develop offshore wind farms

Link Securities | The French government has prequalified 12 bidders to develop new offshore wind farms off the coast of France through the AO9 tender for up to 2.9 gigawatts (GW) to install offshore wind farms at four sites, including Iberdrola (IBE), according to Expansión newspaper. One will consist of the extension of an existing farm in southern Brittany, two others will be located on the Mediterranean coast and the…

In Spain 21st November 2024

First lawsuit for greenwashing in Spain: Iberdrola accuses Repsol of “misleading advertising”

Iberdrola and Repsol face each other today in Santander Commercial Court number 2 in the oral hearing following the lawsuit filed by the electric company against the oil company for “unfair competition” and “misleading advertising.” This will be the first trial between companies for greenwashing in Spain. Iberdrola is asking for some of Repsol’s campaigns to cease, but not for damages.The trial will take place in the city of Santander…

World economy 21st November 2024

Iberdrola launches €460-million green bond issue in Australia – first ever by a Spanish non-financial company

Alphavalue / Divacons | The Spanish utility yesterday completed a A$750 million (approximately €460 million) green bond issue to finance its renewable development in Australia. According to the company, it is the first non-financial Spanish company to issue in this market known as ‘Kangaroo’. The issue was made in two tranches: A$350 million (€215 million) for six years and A$400 million (€245 million) for 10 years. Demand reached A$2.1 billion…

In the World 19th November 2024

Iberdrola left alone in tender for 600 MW of Neoen in Australia

Banc Sabadell | The Australian fund HMC has withdrawn from the auction for 600 MW of Neoen assets put up for sale in Australia and Iberdrola (IBE) may have been left alone in the tender, although it is not clear that it has obtained exclusivity, according to press reports. The portfolio would consist of three operating assets: a 128 MW solar farm, a 194 MW wind farm and a 20…

In Europe 12th November 2024

Iberdrola among utilities driven by 7-10% CAGR in distribution in Northern Europe and 15-20% in transmission in Germany and UK

Morgan Stanley: Our analyst Rob Pulleyn thinks it is too early to move away from the utilities theme, as he believes the market is not fully discounting the outlook: the market does not yet seem to have digested the shift in regulated utilities from “low growth dividend” companies to “quality growth” companies. In more detail, Pulleyn estimates an average CAGR of 6% in EPS by 2024-27 (versus 3% consensus) in…

Relevant News Item 24th October 2024

Iberdrola net profit, excluding capital gains from assets sales in Mexico, up 18% against 13% estimated, and with capital gains up 50% to €5,471 million

Bankinter : Iberdrola’s 9M 2024 results beat consensus estimates. Earnings excluding capital gains from the sale of assets in Mexico increased by 18% versus 13% estimated. Positive factors: (i) Growth in the regulated asset base in networks and tariff revisions; (ii) Improvement in the commercialisation margin and (iii) Record hydroelectric generation and new capacity in renewables. These factors more than offset the lower contribution from the gas business and the…

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