Iberdrola posts ordinary net profit of €968 million up to March
Iberdrola obtained ordinary net profit of €968 million in the first quarter of the year, 5.3% more than in the same period of 2019. EBITDA increased in line with this, growing by 5.8% to €2.75 billion. These results were possible thanks to the record investments that Iberdrola carried out between the beginning of 2019 and the end of the first quarter of 2020, amounting to €9.88 billion. Of this amount, €1.73 billion was invested in the first three months of this year, representing an increase of 24.2% compared with last year. 91% of investments were in Renewables and Networks: €810.2 million and €765.9 million respectively.
The group continued to move ahead with 8,500 megawatts (MW) of projects under construction worldwide. Between January and March alone the group installed 1,200 new MW, and in the last 12 months it has added 5,500 MW of installed capacity, reaching a total of 53,270 MW. At the same time cash flow increased by 3.7% to €2.11 billion.
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