Iberdrola H1 Profit Rises 22%, Reaffirms Guidance

Iberdrola reported a 22% rise in first-half net profit to 4.34 billion euros, driven by heightened investment in grids in the UK, the US, and Brazil. Excluding capital gains from Mexican plant sales, adjusted net profit rose about 8% (14% when exchange-rate effects are excluded), and adjusted EBITDA climbed 7% to 8.05 billion euros as revenues edged up to 22.47 billion. The company reaffirmed its full-year guidance, aiming for adjusted net profit growth well above 8%, while maintaining a robust liquidity position of around 21.5 billion euros. Investment surged by 25% to 7 billion euros in the period, with more than two-thirds directed to networks in Britain, the United States and Brazil and 42% growth in network investment to nearly 4.4 billion euros. Iberdrola also announced the acquisition of Caruna, Finland’s largest electricity distributor, in a deal valued at about 5 billion euros, expanding its Nordic footprint. Looking ahead, generation investment remains active, with more than 1.6 gigawatts of capacity commissioned and a pipeline capable of adding up to 15.5 gigawatts between 2025 and 2030, as the group targets continued growth in both networks and renewable energy.