Iberdrola's Q1 2024 net profit increased 86% to €2.76bn, driven by Mexico asset sales and UK tariff recovery.
Iberdrola, a Spanish renewable energy company, reports an 86% increase in Q1 2024 net profit to €2.76 billion, driven by capital gains from Mexico asset sales and a UK tariff deficit recovery. EBITDA rose 44.1% to €5.857 billion, with group sales decreasing by 18% to €12.678 billion. The company plans to invest €12 billion in renewables this year and revised its annual earnings outlook to high-single-digit net profit growth, up from 5-7%.
April 24, 2024
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