News
-
05/04/2020Iberdrola donates 8,000 blankets to field hospitals and old people's homes As soon as the threat of COVID-19 reared its head, Iberdrola began putting various mechanisms into place to help to mitigate the effects of this pandemic. In this regard, the company has begun to distribute more than half of the 8,000 blankets that it will deliver to field hospitals and old people's homes in the coming days. The first 5,500 blankets are currently being delivered as follows: * On Friday 3rd April, Iberdrola delivered 1,000 blankets to hall 9 out of a total of 3,000 blankets to be delivered over the coming weeks to the field hospital at the IFEMA convention center in Madrid. * On the same day, the Civil Guard received 500 of the 1,000 blankets which will be distributed to field hospitals in Logroño and San Andrés de la Barca, near Barcelona. * Finally, the company delivered 4,000 blankets donated to Madrid's Regional Ministry of Social Policies, Families, Equality and Births, which will be distributed to old people's homes in the region. This donation of blankets is part of Iberdrola's commitment to donate at least 25 million euros’ worth of medical equipment in coordination with public authorities. On Monday, the company pledged to donated 22.1 million euros’ worth of medical supplies, which will be delivered to the Spanish authorities in mid-April and includes 450 ventilators, 4.6 million masks, 120,000 protective gowns and 20,000 pairs of goggles. Additionally, Iberdrola has already forwarded its global COVID-19 action plan to Spain's Regional Health Ministries, which includes dedicated service for hospitals in Spain with the aim of guaranteeing quality and continuity of supply, and the deployment of new facilities to reinforce the service. More than a hundred measures to halt the advance of the pandemic and guarantee the supply of electricity to the public In total, the group has implemented 107 measures at global level during this health crisis, with over 90% of office staff now working remotely and the work undertaken by personnel outside power plants and on the transmission and distribution networks being reorganized. “This comprehensive plan is allowing us to guarantee the continuity of the electricity supply to the entire population, while deploying human and technical resources to reinforce sensitive pieces of infrastructure like hospitals and healthcare facilities”, said Iberdrola chairman Ignacio Galán at the Shareholders Meeting. To sum up, Iberdrola's response to the COVID-19 crisis is “fully consistent” with the model it has been applying for decades, aimed at creating sustainable value for shareholders, employees and society as a whole. READ MORE
-
02/04/2020Ignacio Galán: “We will speed up investments as soon as possible to contribute to economic activity and promote employment” The chairman of Iberdrola, Ignacio Galán, today addressed the more than 600,000 shareholders of the company in what was the first 100% remote AGM in its history. During his address from the Iberdrola Tower in Bilbao, he appealed for responsibility and collaboration in mitigating the effects of the crisis brought about by the coronavirus (COVID-19) pandemic. With shareholders representing 77.04% of the share capital “present”, which was particularly significant given the fact that this AGM was held remotely, all the blocks of agreement on the agenda were supported, with more than 94% of votes in favour, distributed as follows: * Group 1 (Annual accounts and conduct of the company’s business): 98.99% * Group 2 (Corporate governance system): 99.92% * Group 3 (Remuneration): 97.82% * Group 4 (Board of Directors): 97.90% * Group 5 (Authorizations and delegation of powers): 94.93% During his address, Ignacio Galán announced that, in view of the current situation, “as soon as possible we will speed up our investments in order to contribute to economic activity and prevent people’s jobs from being lost. Of course, the most appropriate health and safety measures will be applied for all those who deliver these projects.” He went on to say: “We share with you the certainty that speeding up investments, once these exceptional circumstances come to an end, is the best - I would venture to say the only - way to get through this situation of crisis and uncertainty. Therefore, in 2020, it is our intention to surpass last year’s investment record and reach €10billion.” As a result of this effort, at least half of the 9,000 megawatts (MW) of new capacity currently under construction will be commissioned this year. Specifically, across the world Iberdrola is advancing on 30 photovoltaic solar plants, 50 onshore windfarms, new offshore wind farms such as Saint Brieuc in France, Baltic Eagle in Germany and Vineyard in the U.S.; the Tâmega pumped storage hydroelectric giga battery in Portugal, more than 5,000 kilometres of high voltage transmission lines in Brazil and new distribution networks in the states of New York, Maine and Connecticut. Together with the new investments, Ignacio Galán announced an ambitious procurement plan which will give visibility to the entire supply chain while promoting economic activity and jobs: “In the last few days we’ve brought forward over €3.8 billion in orders to thousands of suppliers, with purchases in progress for delivery by 2023 standing at more than €20 billion. “We will move forward with the total conviction that we will come through this situation and that this new infrastructure will be absolutely necessary,” he explained. “To this end, having taken on 3,500 new employees in 2019, we expect to reach the record figure of 5,000 new recruits in 2020. This will bring our global workforce to more than 40,000,” he added. At the same time, the company will uphold its full commitment to gender equality. Iberdrola is a leader in Ibex 35 companies based on the percentage of women on the Board, in the group as a whole there is equal pay for genders, and there is a growing number of women in all positions in the company. Galán also highlighted the company’s firm commitment to caring for the environment and fighting climate change: “Our CO2 emissions are now 110 grams per kWh, two-thirds lower than our competitors, and already below the objective that some of them are setting for 2030.” Galán went on to reiterate “Iberdrola’s complete readiness to perform its role of locomotive as soon as we come through the current situation, at which time turbo-charging economic activity and jobs is going to be more necessary than ever. This activity will also have a very notable effect on public finances, benefiting all the citizens of the countries where we are present.” In 2019 alone, Iberdrola’s tax contribution amounted to €14 billion, of which €8 billion corresponded to direct taxes in the income statement or collected from customers and employees. The Group’s employees, a model of selfless dedication and solidarity The Chairman of Iberdrola devoted much of his address to thanking the company’s employees for their continuing work to ensure the supply of electricity during these difficult times: “I wish to pay tribute to the extraordinary work being done by the thousands of professionals of all the companies in our group who are showing, worldwide, a great sense of duty and enormous competence in the service of their fellow citizens. With their selfless dedication and solidarity, they are all helping to write new chapters in the history of our company.” Ignacio Galán also discussed the company’s quick response to the threat of COVID-19 from the moment it became apparent, “with the objective of protecting the health of our employees and of our contractors; thus ensuring that homes and businesses can continue to have a normal supply of electricity, guaranteeing our workers’ jobs and doing everything in our power to prevent the jobs of the tens of thousands of people who work in our supply chain from being lost, while at the same time maintaining maximum health and safety precautions.” During his address, the Chairman of Iberdrola also explained how the company is putting its logistical and financial capabilities to good use by acquiring, in agreement with the health authorities, medical and protective supplies for an amount of at least €25 million. Specifically, the company will deliver ventilators, protective clothing and masks to the health system in Spain. A total of 107 measures have been implemented by the group worldwide during this crisis, in which more than 90% of the office staff are working from home and in which the work of outside personnel of the power stations and transmission and distribution networks has been reorganised. “This integrated plan is allowing us to secure the continuity of electricity supply to the whole population while bolstering particularly sensitive infrastructure such as hospitals and healthcare centres with human and technical resources,” Galán added. In summary, Iberdrola’s response to the COVID-19 crisis is “entirely consistent” with the model that it has been applying for decades, geared to sustainable value creation for shareholders, employees and society at large. Review of 2019 and outlook for 2020 As always in the AGM, the Chairman of Iberdrola reviewed the previous year's results, which demonstrated how the company’s model, based on the “social market economy”, contributes value for the shareholders and generates wealth and sustainable development for employees and society. In 2019 investments reached the record level of €8.15 billion, 32% more than in 2018. Projects totalling 5,500 MW of new capacity were commissioned (five times the average annual new installed capacity in recent years) and the company continued to strengthen and expand its network infrastructure around the world. The group’s EBITDA exceeded €10 billion for the first time and net profit grew by 13% to €3.4 billion. As a result, the Board of Directors was able to propose to today’s General Shareholders’ Meeting an increase in shareholders’ remuneration for 2019, to €0.40 per share. Iberdrola also continued to focus on innovation during 2019, investing €280 million; which made it one of the world’s top three companies in the electricity industry in terms of resources devoted to R+D+I. Ignacio Galán said: “Iberdrola faces the year 2020 with a well-established business model, focused on excellence in the service to our customers and on investment in sustainable energy infrastructure. We remain committed to contributing towards the generation of wealth and employment.” In reply to shareholders’ questions, he also stated that the company has sufficient liquidity to cover 18 months in a scenario of closed financial markets. As for full-year guidance, Galán reaffirmed that “the investment plan, together with cost controls, even after allowing for the costs of the extraordinary measures taken and the acquisition of materials specified by the health authorities which will be delivered to them as they arrive, leads us to expect, with the data we have to date, that in 2020 the net profit will exceed that of 2019, with the dividend growing along the same lines.” Concluding his address, the Chairman of Iberdrola reiterated his thanks to all the women and men who form ‘the Iberdrola family’, trade union representatives, and each and every one of the members of the Board of Directors, “for their work, help and constant support.” “In particular, Inés Macho and Denise Holt, who are leaving the Board after carrying out excellent work over the course of many years.” Galán ended by welcoming the new directors, Nicola Brewer from the U.K. and Regina Nunes from Brazil, “who I am sure are going to add value with all their experience and knowledge.” READ MORE
-
02/04/2020Iberdrola chairman, Ignacio Galán, visits the Distribution Operation Centre in Larraskitu after the annual general meeting Following the conclusion of the Annual General Meeting, Iberdrola’s Chairman, Ignacio Galán, carried out a visit to the Distribution Operation Centre for the north of the country, located in Larraskitu, Bilbao. At the Centre, he spoke to workers and expressed his support and encouragement for their continued efforts in these exceptional times. Iberdrola’s Distribution Operation Centre (DOC) in Larraskitu, Bilbao, oversees, supports and controls Iberdrola’s electricity transmission and distribution networks in the Basque Country, Navarre and La Rioja, 24 hours a day Using one of the world’s most advanced remote-controlled IT systems, the DOC operates an infrastructure network of almost 38,000 km of power lines (very high, high, medium and low tension), more than 250 substations and almost 18,000 transformer centres, serving almost two million people. Its remote-controlled system allows any incident on the power grid to be detected and dealt with efficiently. Real-time monitoring of all parts of the power grid also means that management of the grid is optimised. 40 members of staff from i-DE, Iberdrola’s electricity distribution company, work at Larraskitu. The coronavirus action plan adopted by the group, to guarantee power supplies and the functioning of its operations while also ensuring the safety of its employees, includes specific initiatives for groups of key workers and for the staff who run this centre. Iberdrola has six Distribution Operation Centres across Spain, which also include Electric Mobility Control Centres, from where the impact of electric vehicles on the distribution network is monitored and assessed. READ MORE
-
30/03/2020Iberdrola donates €22 million in protection and medical supplies to Spain’s health service Iberdrola has closed an initial purchase of essential healthcare supplies in China, valued at €22.1 million, which will be delivered to the government upon its arrival in Spain, scheduled for the first half of April. Specifically, the company has acquired 450 ventilators, 4.6 million masks, 120,000 protective coveralls and 20,000 pairs of protective eyewear by signing four major contracts with Chinese companies. The first contract includes the purchase of 400 state-of-the-art breathing devices for €11.6 million. The Aeonmed VG70 (Intrusive Oxygen Ventilator) model will be delivered to the Ministry of Health for subsequent distribution. Through the second agreement, 2.5 million FFP2 (KN95) masks have been acquired, addressed to the Health and Interior ministries (1.5 million), as well as the Spanish Army (1 million), who will be in charge of transport and will subsequently distribute them throughout the country. The total cost of this is €5.3 million. The third batch of material includes 2 million disposable masks (model EN 14683:2019 Class I filtration 90-95%) and 100,000 disposable protective coveralls certified under Directive 89/686/ECC. This material, worth €2 million, will be allocated to the Ministries of Health and Interior. In addition, Iberdrola will donate 50 ORICARE V8800 intensive care respirators; 50,000 FFP2 (KN95) masks and another 50,000 FFP3 masks; 20,000 units of splash guards and 20,000 pairs of goggles. This set, valued at 3.1 million euro, will be sent to Madrid’s regional government. Finally, the company has purchased another batch of coronavirus supplies (€100,000) with the support of several suppliers. It is made up of nitrile gloves, disposable coveralls, FFP2/KN95 masks, goggles, half-masks, hydro-alcoholic gel, gowns and sleeves, which will go to the Basque Country. Iberdrola negotiates additional supply contracts The equipment is designed to help Spain as it continues to fight the Covid-19 crisis . The company has launched this initiative in coordination with the Spanish authorities and other Spanish companies, in a collaborative effort to respond to the pandemic. Iberdrola is currently finalising additional agreements with other medical suppliers to provide further equipment to the Spanish authorities. READ MORE
-
30/03/2020Iberdrola is reinforcing its support plan during the COVID-19 crisis with a free emergency electricity service for its two million elderly customers Iberdrola is reinforcing its customer support plan activated weeks ago to alleviate the COVID-19 crisis with a free emergency electricity service for its two million customers in Spain over 65 years of age. The company continues to guarantee energy to nearly 100 million people worldwide in countries such as Spain, the United Kingdom, the United States, Brazil, Mexico, Germany, Portugal, Italy and France. With this initiative, the most vulnerable group in this situation will be covered by an emergency service throughout the duration of the State of Alarm that will solve any problem related to the lack of electricity supply in the home, covering both the travel costs of the technician, as well as the labour cost. Iberdrola has an extensive network of installation technicians in all the autonomous communities, who will follow a strict health and safety protocol for the provision of this service. This measure also includes the implementation of a telephone channel exclusively for this group of customers. This free emergency electricity service joins the support plan launched by the company weeks ago to facilitate the payment of electricity, gas and other energy services bills by its more than 10 million customers in Spain including households, the self-employed and SMEs. In this way, for all customers with payment difficulties and who request it, the company makes payments more flexible by splitting bills into up to 12 months at no cost, both in the open and regulated markets. Iberdrola, which had already suspended supply cuts before the State of Alarm and has applied this measure in all the countries where it operates commercially, has completed its aid actions during the COVID-19 crisis with an Advisory Plan so that its customers can adjust their contract and pay less on their electricity bill. It has also reinforced digital and telephone channels to ensure customer service and advice to its customers during the health crisis. Supply guarantee These activities are part of the overall plan launched by the company against the COVID-19 coronavirus. Iberdrola, as a company that provides an essential service to society, has implemented a series of measures at all its headquarters (offices, transformer facilities, power plants and customer support centres). The measures are additional and specific to ensure supply and continuity of service. The measures include extraordinary protocols for critical business groups and mobility and temporary relocation contingency plans for workers at essential facilities and functions for electricity generation, distribution and supply to customers. It also keeps a special plan activated to reinforce the energy supply to the country’s hospitals and respond to the needs of facilities such as hotels and public and private spaces that are housing field or temporary hospitals. READ MORE
-
29/03/2020Protect people and safeguard jobs In an op-ed published Sunday 29 March in Abc newspaper, Iberdrola chairman Ignacio Galán reiterated the company’s commitment to society in the midst of the coronavirus crisis. A commitment that materializes in two aspects: protecting people and safeguarding jobs. The first one is to the safety of employees who, often on the front line, are keeping basic services up and running or providing support to those who are doing so. The second commitment is to the economy: in Galán’s opinion, companies — especially those in the industries that drive the rest of the economy — must maintain and even accelerate planned investments, as this is “the best way to support activity and employment among our thousands of suppliers, many of which are small and medium enterprises, and to bring about a faster recovery as soon as we overcome this situation.” It is now more than ever when companies must prove our ability to contribute to society, as essential actors in an economy that wants to be social and market. He also said that each country’s individual solutions are not enough, as they do not have “the capacity to face up by themselves to the effects of this crisis on global supply and demand that experts are predicting”, which makes it necessary to develop coordinated strategies. “A Europe that shows solidarity, capable of presenting a united response to the crisis, is the best guarantee of leaving the recession behind soon, relaunching the economy and, more importantly still, proving that the common European project is there for its citizens when they need it most.” This is needed to attempt to mitigate as much as possible the immense impact that the health crisis is having on countries’ GDP and, above all, on employment. Lastly, Galán struck an optimistic tone, saying that we will beat the pandemic thanks to “the capacity for sacrifice and commitment of all the people who are making it possible for our country’s basic services to continue operating and, in particular, those fighting the pandemic on the front line, for whom there can never be enough recognition of their laudable generosity.” “All of them,” he concluded, “are today, and will be forever more, our anonymous heroes.” READ MORE
-
19/03/2020Iberdrola activates an extraordinary plan for hospitals to guarantee and reinforce energy supply Iberdrola, Spain’s leading energy company, has ramped up its global efforts to beat COVID-19 with a dedicated service for hospitals in Spain to guarantee service continuity and quality. It is also working to ensure that new installations allocated to patient care have adequate power supply. So far, the company has earmarked 268 public and private hospitals and health centres in areas where it operates as a supplier — 25 provinces in ten autonomous regions — where it is reviewing their power supply and backup resources and the correct functioning of digitalised installations. To meet the needs of new facilities being set up for use as hospitals, Iberdrola has worked with the Health Departments of the autonomous regions and the 112 emergency services. It has given priority to increasing power in facilities used as field or temporary hospitals to care for patients, such as hotels and other public and private premises. Iberdrola’s distribution company, i-DE, has provided health services and public organisations with a priority telephone number which is available 24 hours a day for health centres and doctors to ensure optimal response to incidents. The company is also offering back-up generators, some of which have already been requested and installed. As well as these measures, a dedicated service for hospitals and health centres has also been created. A total of 65 measures will keep this sector operational The special services for hospitals provided by Iberdrola were launched just days after the company had activated 65 measures that help to guarantee operations during the coronavirus crisis, fulfilling the company's commitment to its stakeholders (customers, suppliers, shareholders and the general public), while protecting its workers’ health and safety. Iberdrola, as a company that provides an essential service to society, has implemented a series of reinforced measures at all its headquarters (offices, transformer stations, power plants and customer support centres) to ensure supply and continuity of service. The measures include extraordinary protocols for critical groups, mobility and temporary relocation plans for workers at critical facilities with essential duties in electricity generation, distribution and supply to consumers. READ MORE
-
18/03/2020Iberdrola will hold its Shareholders’ General Meeting remotely Today, Iberdrola’s Board of Directors agreed to implement a set of measures that will enable them to attend the Shareholders’ General Meeting remotely on 2 April at first call, safeguarding the continuity of its investment and industrial activity despite the spread of the COVID-19 coronavirus. Iberdrola, which supports the package of measures approved yesterday by the Spanish government to ensure business continuity while fighting the spread of the disease, will be the first listed company to make use of them. The annual meeting will therefore take place at Torre Iberdrola in Bilbao without physical attendance by shareholders, representatives and guests to safeguard the health of all employees and suppliers involved in its organisation. To ensure that all shareholders are able to take part in the General Meeting remotely, Iberdrola's Board of Directors has also promised to provide more channels for these purposes, which you can already consult at www.iberdrola.com . These channels will enable the company's shareholders to not only attend the annual meeting but exercise their right to grant a proxy or cast an absentee vote. This will entitle them to receive attendance premiums for the Shareholders’ General Meeting of 0.005 gross euros per share or one euro per 200 shares. READ MORE
