BILBAO (dpa-AFX) - Iberdrola (IBDSF.PK) reported that its first half net profit increased by 21% to 2.52 billion euros, or up 28% excluding accounting impacts of last quarter with no cash impact. EBITDA was 7.56 billion euros, an increase of 17%, driven by strong performance in the EU. Net revenue was 26.26 billion euros, an increase of 7.5%.
Ignacio Galán, Executive Chairman of Iberdrola, said: 'We continue accelerating in the execution of our Strategic Plan, with investments of more than 10.5 billion euros in the last 12 months, to achieve a Networks Asset Base of 40 billion euros and 41,250 MW of installed renewables capacity.'
The company said it is now forecasting high-single-digit net profit growth excluding additional capital gains from asset rotation due to strong business performance in the second half driven by further investments and new capacity in renewables, positive production forecasts and new rate cases in the US and Brazil.
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