Iberdrola Group reports 50% net profit increase to €5.47B in 9 months of 2024, driven by investments in renewable energy and grid infrastructure.

Iberdrola Group reported a 50% increase in net profit to €5.47 billion for the first nine months of 2024, despite an 11% decline in revenues to €33.12 billion. Excluding capital gains from Mexico, profit would be €4.30 billion, an 18.4% rise. The company attributes its success to significant investments in renewable energy and grid infrastructure, projecting a net profit of approximately €5.5 billion for 2024, driven by ongoing growth initiatives.

October 23, 2024
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