Iberdrola profits rise 86% in March, to $2,760 million, due to capital gains in Mexico

Iberdrola profits rise 86% in March, to $2,760 million, due to capital gains in Mexico

Madrid, April 24 (European Press) –

Iberdrola had a net profit of €2,760 million in the first quarter of the year, representing an 85.8% increase compared to €1,485 million in the same period of 2023, driven by millionaire capital gains recorded with the sale of assets the company reported in Mexico.

Specifically, the sale of assets in Mexico, which closed on February 26, represented an extraordinary contribution of €1,165 million to its net profit, while in 2023 it had a positive impact of €238 million to recover the deficit in the UK business. Excluding these recurring items, net energy profit increased by 28%.

For its part, total operating results (Ebitda) amounted to 5,857 million euros at the end of March, 44.1% higher than in the same period last year. Excluding capital gains in Mexico and a recovery in the UK tariff deficit, EBITDA rose 10% to €4.14 billion due to improved margins and record renewable production achieved in the past 10 years in Iberia.

Group sales in the period from January to March amounted to 12,678.5 million euros, representing a decrease of 18% compared to the first quarter of 2023.

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