The Spanish energy group Iberdrola, present in Portugal, had profits of 5,307 million euros between January and September, 3% less than in the same period of 2024, the company announced this Tuesday, 28th.
The drop in profits in the first three quarters of the year is due, according to Iberdrola, to the effect of the capital gains that the company made in 2024 with the sale of the businesses it had in Mexico.
Therefore, without taking these capital gains into account, Iberdrola’s profit until September would have grown by 17%, compared to the same months in 2024, according to the results communicated today by Iberdrola to the National Securities Market Commission (CNMV) of Spain.
The result before taxes, interest, depreciation and amortization (EBITDA) in the first nine months of the year was 12,438 million euros, 6.3% less than in 2024.
Iberdrola made a profit of 5,612 million euros in 2024, 17% more than in the previous year.
The group announced on September 24 that it plans to invest 58 billion euros by 2028, within a strategic plan for 2025-2028.
The investment’s main destinations are the United States and United Kingdom markets and is a 30% increase compared to the previous strategic plan, according to the company, which expects to reach an installed electricity generation capacity of 32,300 megawatts (MW) in 2028.
Around 65% of the 58 billion euros that Iberdrola plans to invest until 2028 are destined for the United Kingdom (20 billion) and the United States of America (16 billion).
This is followed by the Iberian Peninsula (9,000 million euros) and Brazil (7,000 million euros).
Iberdrola’s objective is to reach operating profits of 18 billion euros in 2028.
The expectation is that the networks will be the engine of growth and contribute to 55% of operational results.
The company plans to invest 37 billion euros in networks (25 billion in distribution networks and 12 billion in transport networks).
On the other hand, Iberdrola plans to allocate 21 billion euros for investment in renewables and customers by 2028: 38% of that amount in offshore wind energy; 24% in onshore wind; 10% in storage and 10% in solar.
According to the company, 75% of these projects are already under construction.
Iberdrola plans to allocate between 65% and 75% of profits to shareholder remuneration (20 billion euros in dividends in the period 2025-2028).