Iberdrola earns 3,104 million, 29% more, despite reducing profit by 14% in Spain

Iberdrola's net profit reached 3,103.

NewsEditor
NewsEditor
26 October 2022 Wednesday 03:33
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Iberdrola earns 3,104 million, 29% more, despite reducing profit by 14% in Spain

Iberdrola's net profit reached 3,103.6 million euros up to September, which represents a growth of 29% compared to the same period of the previous year. This increase is supported by the strength of the international business, since in Spain the benefits decreased by 14%, according to the information deposited by the group this Wednesday in the National Securities Market Commission (CNMV).

The volume of sales increased by 35%, to 37,909.3 million, compared to the 28,000 registered in the previous year.

Ordinary profit before taxes (EBITDA) grew by 16.4%, to 9,529 million euros, with a positive evolution in all geographies except Spain. The peculiar adverse environment of the country results in a negative EBITDA of 9.8%.

The gross margin in the period amounted to 14,655.9 million, which represents a growth of 16.4%, compared to the same period in 2021.

All this while maintaining a solid financial profile, with a good liquidity position (around 24,000 million), which covers 27 months of financing needs, with a cash flow ratio after taxes on net debt of 24.3%.

The debt stands at 44,293 million euros, which represents an increase of 19%, specifically, 7,075 million euros more than that registered in September 2021 due to the investment effort, the appreciation of currencies and the increase in capital circulating.

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