The Diplomat
Iberdrola earned 2.408 billion euros in the first nine months of the year, 10.2% less than in the same period of 2020, due to high energy prices, especially in Spain.
The results provided by the company to the Spanish National Securities Market Commission (CNMV) reflect the effects of tax adjustments for taxes and levies in Spain and the UK, along with the impact of the Spanish government’s royal decree that introduced a reduction in profits in mid-September, which has now been softened.
However, adjusted net profit, excluding the effects of energy prices, new taxes and lower extraordinary items, grew by 5.2% to 2,688 million euros.
In this context, Iberdrola recorded a “strong” performance of its activity in the first nine months of 2021, with investments that increased by 6% to 7,036 million euros, 77% of which was allocated to international markets.
Of this, 90% of the total was directed towards the development of new renewable projects, storage and smart grids. Investment in networks increased by 27% to EUR 3,185 million.
Investments in Spain amounted to €1,593 million, 21% more than in the same period of 2020 and were directed to the development of new renewable projects for an amount of €792 million; to smart grids for €445 million; and to plant maintenance and other investments totalling €356 million.
“We remain committed to our sustainability strategy based on the fight against climate change and the creation of wealth and employment in the communities where we operate, for the benefit of our stakeholders,” said Iberdrola’s Chairman, Ignacio Galán.
