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Manu Álvarez
Thursday, 27 February 2025, 19:16
It is starting to become somewhat rhetorical and reiterative that Iberdrola achieves a new profit record in each quarterly results presentation. The company chaired by Ignacio Galán has done it again. At the end of 2024 it had obtained a net profit of 5.61 billion euros, which is 17 per cent more than the previous year, in addition to having dedicated just over 1.1 billion to cleaning up some items on its balance sheet.
In fact, the total profit for 2024 has risen to 6.71 billion euros, boosted by the extraordinary 1.1 billion euros obtained from the sale of several combined cycle electricity generation plants to the Mexican government. Iberdrola has taken the opportunity to allocate this extraordinary result to what it has called "efficiency actions for the future".
Although its revenues fell by almost 5 billion euros during the year, as a result of a moderation in electricity sales prices compared to the previous year, its business margins increased by around 800 million euros. This figure is also reflected in the total increase in net profit. With this result, the company has already announced that it will propose to the shareholders' meeting a 15 per cent increase in the dividend from last year's profits. The proposal to the meeting will be to allocate a gross dividend of 0.65 euros per share.
In the meantime, the company continues with an accelerated investment programme, which last year led it to allocate 17 billion euros to increase its electricity production and distribution structure in all the geographical areas in which it is present. However, at least in 2024, the main destination of its investments was focused on the United States, especially on increasing distribution capacity. It earmarked 12 billion of the 17 billion in investment for this country.
On the other hand, the Basque electricity company has also broken a record in terms of its contribution to the public coffers, as last year it generated 10.3 billion euros in taxes from its activity. Of this figure, 4.3 billion euros were paid into the Spanish treasury, an increase of 14 per cent over the taxes generated in 2013.
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