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Iberdrola Announces Record 9-Month Profit Of €1,613 Million, +30.5%

24/10/2007

Following €18 billion investment in organic growth since 2001 plus €17.1 billion on the ScottishPower acquisition

IBERDROLA ANNOUNCES RECORD 9-MONTH PROFIT OF €1,613 MILLION, +30.5%

2008-10 STRATEGIC PLAN PRESENTED TODAY

  • ScottishPower has contributed 21.5% (€818.5 million) to Group Ebitda since it was incorporated on April 23
  • Closure of the friendly acquisition of Energy East, expected in the first half of 2008, will facilitate penetration of the U.S. market
  • The IPO of Iberdrola Renewables, which has installed capacity of more than 7,300 MW and a pipeline of 41,200 MW, will reinforce leadership in wind power

 
KEY ASPECTS IN THE PERIOD

  • Electricity output rose 30.3% to 86,800 million kWh, driven by cleaner energy technology
  • CO2 emissions in Spain cut by 15%, consolidating position as one of the least contaminating power companies
  • Continued growth in environment of low tariffs (-33%) and modest growth in electricity demand (+1.7%), thanks to the contribution of international business

 
RESULTS

  • Cash flow rose 34.1% to €2,854.1 million
  • IBERDROLA Group Ebidta rose 29.9% in the first nine months to €3,811.6 million
  • Organic and corporate investments have exceeded €35 billion, while gearing has declined to 47.6%

Please click here to view the press release in full.

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