The group's EBITDA reached €7,318.7 million, driven by Network businesses and Contracted Generation

 Infographic for Fiscal Year 2017 Results [PDF]

The Fiscal Year 2017 was characterised by a series of non-recurring negative impacts that were nevertheless offset by other positive impacts. Some of the more prominent negative impacts included the low hydroelectric factor in Spain following a record year. On the positive side, the approved tax reform in the USA had a net positive impact of €1,284 million, which the company has allocated to reinforce and optimise its business profile for future growth. The extraordinary effect of Gamesa's merger with Siemens also contributed €251 million to net profit.

The group's EBITDA stood at €7,318.7 million, driven by the performance of the networks business in the USA and Brazil (positively affected by the incorporation of Neoenergia) and Contracted Generation in Mexico. The gross margin climbed to €13,363.8 million (+3.3%).

The group's net investments continued increasing and reached €5,891 million, which eclipsed the investments made in the previous year by 38.1%. 88% of these investments focused on Networks businesses, Renewables and long-term Contracted Generation.


  • The Networks area had a 3.6% improvement in EBITDA to attain €4,228.1 million, driven by the efficiency plan in Spain, the United Kingdom and Brazil.
  • The EBITDA of the Networks business represents 57% of the total EBITDA of the Company.


  • The Generation and Customers businesses recorded an EBITDA of €1,600.6 million. The performance has been very positive in Mexico, which has increased its EBITDA by 22.8%, reaching $592.9 million.
  • The consolidation of Neoenergia in Brazil since August 24 has been particularly noteworthy.
  • The EBITDA of the Deregulated Generation and Retail area reached 15% of the total EBITDA of the Company, and Contracted Generation EBITDA reached 7%.


  • The EBITDA of the Renewables area in turn peaked at €1,592.1 million (+6.1%), with a 7.5% growth in installed capacity, which reached 16.6 GW.
  • The United Kingdom (+44.6%) and Brazil, thanks to the corporate reorganisation, led growth in this area. In turn, the United States is the business's largest contributor with 33%.
  • The EBITDA in this area amounted to 21% 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.