Iberdrola has improved its income by 40.4% compared to the previous year. The company attributes the gain mainly to the recovery of the deficit of the regulated tariff SVT in the United Kingdom.
Iberdrola has obtained a net profit of 1,485 million euros in the first quarter of the year, that is, 40.4% more than in the same period of 2022, with an improvement in its results in Spain and the United Kingdom, mainly, as reported this Wednesday by the National Securities Market Commission (CNMV).
The gross operating result (ebitda) has grown by 37.7%, up to €4.064 million, thanks to the recovery of the SVT regulated tariff deficit in the United Kingdom.
Regarding the last twelve months, gross investments reached 10.4 billion euros, with more than 90% assigned to the Grids or Renewables business, of which 30% are in offshore wind.
On the other hand, in this first quarter of the year taxes have doubled paid by Iberdrola, reaching 1,179 million euros compared to the 583 million paid in the first quarter of last year, which is mainly attributed to the new tax of 1.2% applied by the Government on sales in Spain.
Source: Eitb
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.