Iberdrola obtains a record net profit of 3,885 million euros in 2021

Iberdrola exceeds its objectives in 2021 and obtains record profits of €3.885 billionwhich represents an increase of 8% compared to the previous year, as reported by the company.

The energy company highlights that this boost in profits last year, for which a goal of 3.8 billion euros had been set, is mainly due to the good operating behavior in the United States and Brazilto the new installed capacity, as well as to the greater weight of network regulated assets and financial strength.

Iberdrola points out that this positive growth in the United States and Brazil offset the negative behavior of the generation business and customers, affected by the high energy prices in Spain and the UK.

The group’s gross operating profit (Ebitda) exceeded 12 billion euros last year, with a growth of 20% compared to 2020, driven by networks and renewable generation. With this figure, the company advances its gross profit estimate for 2022 by a year.

In this way, Iberdrola points out that the good results of 2021 and the future prospects in the renewable business allow it to reaffirm its growth forecasts for 2022, the year in which it expects to achieve a profit of between 4,000 and 4,200 million euros.

The group chaired by Ignacio Sánchez Galán shot up investments in 2021 to a record figure of 9.94 billion, 3% more than in the previous year. Galán highlighted that “these results reflect the success of a sustainable model and encourage us to continue working towards a low-carbon economy”.

With these results, Iberdrola manages to increase shareholder remuneration by 5%, standing at 0.44 euros per share for the year.

The group hired more than 5,500 people in 2021 in the world -40% people under 30 years of age-, supporting more than 400,000 jobs in its suppliers, and the percentage of women in positions of responsibility in the company continued to increase and is already represents 34%.