Iberdrola announces its financial results for Q3 2022

  • Financial Highlights

    o    Net Profit of €3.1 billion (+29%), driven by strong international performance (mainly in the United States and Brazil) and a 14 % increase in investments to €7.6 billion (€10.5 billion year-on-year).
    o    Ebitda increased by 17% to €9.53 billion.
    o    Operating cash flow reached €8.2 billion, up 28%
  • Business Model Resilience in the current macro context

    o    Geographical diversification allows the company to maximize growth and benefit from positive currency evolution 
    o    Business model based on networks regulated assets and long-term contracts protecting from demand volatility and inflationary pressures.
    o    Iberdrola has already sold 100% of production in Spain in ’22, 90% in ‘23, 70% in ‘24 and 50% in ‘25.  
    o    100% of equipment supplies secured for 2022 and 90% for 2023, with prices closed or hedged, mitigating impacts of raw material cost increases and exchange rates.  
    o    75% of all debt is secured at fixed rates, with an average period of 6 years.   
    o    Liquidity stands at €24 billion, equivalent of covering 27 months of financial needs without further accessing the market. 
  • Proactive contribution to alleviate the current crisis

    o    Maintaining stable prices to our customers
    o    Supporting vulnerable customers (payment facilities).
    o    Promoting energy efficiency and savings
    o    ~4,700 new hires in last 12 months
    o    Over €7.8 billion of tax contribution globally in the last year
  • Operational Highlights

    o    Iberdrola invested €7.6 billion globally in the first nine months, an increase of 14%, with a total of €10.5 billion invested in the last 12 months. 
    o    90% of investment allocated to renewables and smart grids to accelerate electrification and energy independence from fossil fuels.
    o    75% of investments in international markets, with U.S. as primary investment destination.
    o    Wind and solar production increases by 13% thanks to new installed capacity and good operational performance, driving renewable energy production to 55,354 GWh and compensating for the lower hydro production due to weather conditions. 
    o    New partnerships to boost clean energy: Alliance with EIP for Wikinger to drive further growth in offshore wind; with Sempra in the U.S. to develop green hydrogen; with Shell to boost floating offshore in the UK and with BP to promote 11,000 charging points in Spain and Portugal.
  • Reaffirming outlook, increasing shareholder remuneration

    o    The company has reaffirmed its net profit outlook for this year between €4 and €4.2 billion euros.  In addition, it has approved an interim shareholder remuneration of 0.18 Euros per share, with an increase of 5.9%, that will be payable in January 2023.