Spanish utility Iberdrola raises full-year net profit guidance to double-digit growth, driven by renewable energy production and asset sales in Mexico.

Spanish utility Iberdrola raised its full-year guidance for the second time this year, predicting double-digit percentage growth in net profit this year, up from earlier guidance of high single-digit growth. The company reported a 64% increase in net profit to €4.13bn in the first half of 2024, driven by record-high renewable energy production and gains from asset sales in Mexico. Iberdrola expects opportunities in data centers, power grids, and energy storage to boost earnings.

July 24, 2024
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