Iberdrola’s revenue reached 4.803 million and reached the record profit for the sixth time in a row.

Iberdrola this Thursday reported a profit of 4,803 million euros in 2023, up 10.7%, marking a new profit record, the sixth in a row, and in line with what the company reported in October, when double-digit growth was already expected. During the whole year.

“Given these results,” he explained to the National Securities Market Commission (CNMV), the group intends to distribute a dividend of 0.550 euros per share accrued on the results of 2023, representing an increase of 10.8%.

The first Spanish electricity company notes that in 2023 it has broken its investment record of 11,382 million, 6% more. 47% of this indicator was allocated to renewable energy sources, and 46% to grids. Investments in Spain decreased by 22% and amounted to 2,323 million, and the first destination was the USA, with 3,028 million, 14% more.

The company emphasizes this note that “it provides 9.3 billion in taxes to public funds” worldwide, an increase of 24%, which is “equivalent to more than 25 million euros per day”, “Spain is the country with the highest taxes. pressure”.

In Spain, the group estimates its tax contribution at 3,482 million, up 35%. “The amount paid in taxes in Spain is higher than the entire personnel, technical, operational and financial costs of the company in the country,” says Iberdrola, who claims that “taxes” in Spain have increased by 99.1% to 1,700 million. , which includes 225 million in gas cuts (which are not taxed) due to the increase in this fuel since the invasion of Ukraine, and an emergency tax on energy companies that the company trusts will “be created or reduced. Significantly,” he explained to analysts.

The Basque multinational, which presented its results to the CNMV on the same day as the country’s largest oil company Repsol (which also presented a new strategic plan), recorded an operating profit (Ebitda) of 14,417 million last year, up 9%. , “due to production recovery and operational efficiency.” It closed the year with 42,187 renewable megawatts (MW) of total capacity, after 3,250 million installed.

Net financial debt now stands at 47,832 million, an increase of 9.3% in one year, although if the sale of assets already agreed in Mexico is discounted, the debt will be about 42,000. -42,500 million

By 2024, the company predicts a new record investment of 12 billion and net profit growth of 5% to 7%, excluding capital gains. The dividend increase will be “in line” with earnings, and 2,000 new onshore renewables are planned to be installed, to be added to the offshore wind projects under construction. The group emphasizes that it is the European leader in long-term renewable energy purchase and sale contracts (PPAs), with almost 1,000 MW signed in 2023.

Source: El Diario

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