Iberdrola sees growth from abroad and renewables

Growth at Spanish energy giant Iberdrola in 2012 came thanks to its international business and another strong showing from its renewables operations.

Iberdrola – the world’s biggest wind-power owner – again pointed to the UK, US and Latin America the focus of its ambitions.

The Spanish group’s net profit rose 1.3% last year to €2.84bn ($3.8bn), driven by international operations that now account for 70% of the figure.

In contrast its domestic profits dropped 36% to €862m, “falling back to 2000 levels”.

At Iberdrola’s renewables operations, earnings before interest, tax, depreciation and amortisation (Ebitda) rose 13.8%.

This came thanks to extra capacity, production increases, improved load factors and higher power prices, Iberdrola says.

The group says it now…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login