BILBAO (dpa-AFX) - Spanish utility company Iberdrola SA (IBDSF.PK) reported that net earnings came to 878.6 million euros in the first quarter of 2013, a decline of 14.1%, while Ebitda was down 3.7% at 2.28 billion euros. The latest quarter results was affected by higher taxation on generation in Spain and temporary additional energy costs in Brazil, among other factors.
The company said Progress towards meeting parameters set in the 2012-2014 Outlook, and the offsetting of some of the negative factors in the first quarter is expected to enable the Company to meet a series of projections for 2013, among them that of maintaining net profit at levels similar to 2012.
The company also expects to maintain its policy of shareholder remuneration of around 0.3 euros per shares until the 2014 financial year, subject to approval by the AGM.
The company said that its liquidity position remained comfortable, standing at 12.261 billion euros at the end of March, enough to meet financing needs for more than three years.
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