BILBAO (dpa-AFX) - Iberdrola SA (IBDSF.PK, IBE1.DE, IBE.MC, 1IBE.MI), a major Spanish wind power producer, on Wednesday reported a rise in net income for the nine-month period, helped by profit from discontinued operations.
For the nine-month period, the company posted a net profit of EUR 5.816 billion, higher than EUR 5.307 billion in the same period last year. Net profit from continuing operations was EUR 4.927 billion, compared with EUR 5.438 billion a year ago. Net profit from discontinued operations surged to EUR 1.028 billion from EUR 266 million in the previous year.
The company's net earnings from continuing operations were hurt by higher expenses. Net operating expenses stood at EUR 4.123 billion, higher than EUR 3.774 billion a year ago. Financial expenses also rose to EUR 3.288 billion from the prior year's EUR 3.285 billion.
Excluding items, earnings were EUR 5.140 billion, higher than the prior year's EUR 4.726 billion.
Profit before tax stood at EUR 6.022 billion as against the prior year's EUR 6.685 billion. Operating profit also moved down to EUR 7.645 billion from EUR 7.783 billion a year ago. Adjusted operating profit, however, moved up to EUR 7.645 billion from last year's EUR 6.871 billion. EBITDA slipped to EUR 11.890 billion from EUR 11.975 billion in the previous year. Revenue was EUR 34.405 billion, higher than EUR 32.400 billion last year.
Iberdrola noted that it has proposed interim shareholder remuneration of EUR 0.275 per share, an increase of 8.7% from last year. Supplementary dividends will be announced in 2027 following the annual general meeting.
Looking ahead, for fiscal 2026, the Spanish energy producer has revised up its adjusted profit growth guidance. The company now anticipates adjusted profit growth of at least 10% against the previous growth guidance of over 8%.
For fiscal 2025, the company had posted adjusted profit of EUR 6.231 billion.
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