BILBAO (dpa-AFX) - Iberdrola SA (IBDSF.PK), a Spanish electric utility firm, said on Wednesday that it would invest 47 billion euros in the energy transition during the period from 2023 to 2025. In addition, the company has raised its outlook for the fiscal 2025.
Ignacio Galán, Iberdrola Executive Chairman, said, 'The record global investment plans we have set out today will help us to bring more self-sufficiency and resilience against potential energy shocks in the countries where we operate, by reducing their dependency on oil and gas and by continuing their path to Net Zero.'
Iberdrola now expects its EBITDA to reach 16.5 billion euros to 17 billion euros by 2025, with net profit of 5.2 billion euros to 5.4 billion euros.
The company also noted it expects its dividend to grow in line with net profit to be between 0.55 euro to 0.58 euro in 2025, with a floor of 0.46 euro in 2023-24, and 0.50 euro in 2025.
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