BILBAO (dpa-AFX) - Iberdrola Group reported first quarter net profit of 2.00 billion euros, down 27.4% from a year ago. EBITDA was 4.64 billion euros, down 20.7%. Excluding the capital gains from the divestment of thermal generation assets in the first quarter of 2024, net profit increased by 26% and EBITDA increased by 12%. Funds from operations, or FFO grew by 11% to 3.50 billion euros.
First quarter revenues were 12.86 billion euros, an increase of 1.5% from previous year.
The company continues to project a double-digit increase in full year net profit.
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