FIRST QUARTER 2018 RESULTS PRESENTATION
The group's EBITDA increased by 24% to €2.323 billion thanks to the positive evolution in all businesses
The First Quarter 2018 was marked by good operational evolution in all businesses. Group EBITDA reached €2,323.5 million, representing a 24% increase compared to the same period last year. More than 75% of this result came from regulated businesses with long-term contracts. So far this year 1,905 new megawatts (MW) of renewable energy have come on stream, and contract generation totalling 7,790 MW which is currently in development will be operational by 2020, as well as a further 1,301 MW for 2022.
The group's gross margin also up by 12.8% to €4,008.8 million. The group's net investments amounted to €1.185 billion, 14.1% more than in the same period of last year. Of this amount, 40% was for networks, 37% for renewables and 23% for generation and retail.
- The Networks area EBITDA increased by 17.5% to reach €1.2 billion, driven by good performance in all regions except the United Kingdom.
- The EBITDA of the Networks business accounts for 52% of the company's total EBITDA.
- The Generation and Retail business increased its EBITDA by 51.6% to €503.6 million, thanks to recovery in Spain and the United Kingdom from the adverse weather conditions experienced in those countries in the same period of last year.
- The EBITDA of this area amounts to 22% of the company's total EBITDA.
- EBITDA of the Renewables area, meanwhile, grew to €603.5 million (+13.9%), driven by improved wind conditions and the 5% increase in installed capacity, to 29,276 MW, including the Wikinger offshore wind farm, in operation since December 2017.
- The EBITDA of the Renewables business accounts for 26% of the company's total EBITDA.
As of 2011, the operating and economic and financial information of Iberdrola Group is structured following business lines: Networks, Wholesale and Retail and Renewables. On the other hand, Corporate encompasses the costs of the Group structure (Single Corporation) for the administrative services of the corporate areas that are later billed to the other companies, whether through specific service contracts or a management fee.
- Iberdrola improves its net profit to €838 million in the first quarter
- Iberdrola will invest €32 billion between 2018 and 2022, building the foundations for sustainable growth in the next decade
- Iberdrola's Net profit reaches €2,417M (+18.4%)
- Iberdrola obtains a net profit of €1,518M (+4.2%) in the First Half of the year