BILBAO (dpa-AFX) - Spanish utility Iberdrola (IBDSF.PK) reported 2018 net profit of 3.014 billion euros, 7.5 percent higher than the previous year's 2.804 billion euros.
The company said the results was due to investments carried out over the past few years, international growth, the normalization of operating conditions in Spain and good performance across all businesses.
Gross operating profit (EBITDA) was 9.348 billion euros, up by 27.7 percent year on year. EBIT more than doubled to 5.44 billion euros.
Iberdrola's revenues rose 12.2 percent to 35.075 billion euros from 31.263 billion euros last year.
Funds from operations (FFO) reached 7.328 billion euros in 2018, up 13.1%.
Looking ahead, the company expects to maintain a mid-single-digit growth rate in both EBITDA and net profit at the end of 2019.
Further, the company lifts 2018 dividend by 7.7 percent to 0.351 euors gross per share. Iberdrola board has also approved a new edition of the share buy-back programme, which cancels out the dilutive effect of the scrip dividend while holding the number of company shares at 6.24 billion.
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