BILBAO (dpa-AFX) - Iberdrola SA (BDSF.PK, IBE1.DE, IBE.MC, 1IBE.MI), a Spanish energy major, said on Wednesday that it will invest EUR 58 billion to 2028 to boost transmission and distribution networks growth, mainly in the U.S. and UK.
The company will invest EUR 20 billion in the UK, followed by the EUR 16 billion in the U.S., EUR 9 billion in Iberia, EUR 7 billion in Brazil, and EUR 5 billion in other EU and Australia.
Ignacio Galán, executive chairman of Iberdrola, said: 'This plan aims to transform Iberdrola's profile into a more regulated company, with networks as a vector for growth. We expect to achieve a net profit of €7,6 bn in 2028.'
Excluding items, the company aims to achieve a profit of EUR 7.6 billion by 2028, up by EUR 2 billion.
The Group expects to record EBITDA of EUR 18 billion in 2028, with Networks as the driver.
Iberdrola projects to pay nearly EUR 20 billion in dividends for the period from 2025 to 2028.
Further, the Group aims to invest over EUR 45 billion between 2029 and 2031, mainly in the UK and the U.S.
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