Iberdrola is now one of the world's largest electricity companies

Net profit rose 13.6% to €458.2 million in the first quarter of 2007

IBERDROLA IS NOW ONE OF THE WORLD’S LARGEST ELECTRICITY COMPANIES WITH THE SCOTTISHPOWER OPERATION

INTEGRATED GROUP

• GROWTH: With an enterprise value of more than €67 billion and a project pipeline in renewables of 37,700 MW, the combination of Iberdrola and ScottishPower represents a platform for future growth in Europe and the Americas

FIRST QUARTER: KEY DATA

• HIGHER PRODUCTION: Electricity production rose 6.9% to 24,750 GWh; the increase in Spain is 2.5% compared to a fall of 0.5% for the rest of the sector


• LOWER EMISSIONS: CO2 emissions per kWh were reduced by 37.1% in Spain from 212 to 133 grammes, increasing the ratio of clean energy production to 76%


• WIND POWER: World leadership consolidated in this sector, with an operational capacity in renewables of 4,552 MW at the close of the quarter, of which 459 MW was outside Spain

RESULTS

• FACTORS: Group EBITDA rose 2.9% in the period to €1,087.1 million, in a context of lower prices and lower energy demand in Spain


• STRATEGY: International and non-energy businesses increased their contributions to gross operating profit by 41% and 40%, respectively

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• Iberdrola is now one of the world'd largest electricity companies with the ScottishPower operation