BILBAO (dpa-AFX) - Iberdrola (IBDSF.PK) said it recorded a strong performance in the first nine months of 2021. Also, the company reaffirmed its sustainability strategy, based on electrification and supported by a strong investment effort, which increased by 6% to 7.03 billion euros, with 77% being in international markets. Investment in networks increased by 27%.
For the nine month period, gross operating profit (EBITDA) was 8.16 billion euros, an increase of 10.7% driven by the United States and Brazil. Of the total, 87% came from networks and renewables. Adjusted net profit grew 5.2% to 2.68 billion euros.
Iberdrola reported net profit of 2.4 billion euros, 10.2% lower than a year ago. Net profit was negatively affected by high energy prices, new taxes, and lower extraordinary items, the company noted.
Copyright RTT News/dpa-AFX