Iberdrola has reported earnings before interests, taxes, depreciation and amortisation (Ebitda) of €1.86bn (US$2bn) for the first quarter of 2017, down more than 8% on the same period last year.
With earnings before interest and taxes (Ebit) at €1.03bn compared with €1.25bn for the equivalent 2016 period, the company broadly attributed the downturn to lower rain and wind resource availability during the quarter, increased taxes in Spain and the poor performance of liberalised business in the UK.
