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07/03/2022Iberdrola to serve as Vice-Chairman of the EU Corporate Leaders Group Corporate Leaders Group, the leading business alliance for a green economy in Europe, has appointed Gonzalo Sáenz de Miera, Director of Climate Change and Alliances at Iberdrola, as Vice-Chairman for a two-year term. He will then become Chairman of the organisation. Corporate Leaders Group is recognised as one of the most influential energy and climate policy organisations in the European Union, and is strongly aligned with a vision of rapid electrification with renewables . As Vice-Chairman, Gonzalo Sáenz de Miera will strengthen the institutional representation of the Corporate Leaders Group in the main international forums in the field of climate change , he will make visible the opportunities in terms of value creation and employment derived from the green economy and compliance with the 1.5 0C scenario of the Paris Agreement, and he will contribute with his vision to the strategic definition of the organisation's activities. Gonzalo Sáenz de Miera holds a PhD in Economics from the Autonomous University of Madrid (UAM), is Vice-President of the Spanish Green Growth Group, Vice-President of the Spanish Association of Energy Economics, Director of the Energy Business Master of the Spanish Energy Club, founder of the Energy and Sustainability Dialogues initiative and member of the Advisory Board of Birdlife International. READ MORE
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03/03/2022Iberdrola Chairman Ignacio Galán: "Europe's tragic times reinforce the need for energy self-sufficiency" The Chairman of Iberdrola, Ignacio Galán, received the BBK Sustainable Competitiveness of the Year Award this morning in Bilbao. In its first edition, these awards aim to give visibility to the citizens, entrepreneurs and institutions of Bizkaia that are committed to sustainable production and invest in it with conviction. The aim is to recognise their work. At the event held in Bilbao, Iberdrola was awarded the Special Sustainable Competitiveness of the Year Award. The company's Chairman, Ignacio Galán, received the award from Xabier Sagredo, Chairman of the bank. In his acceptance speech, Ignacio Galán first acknowledged "the work of the 40,000 men and women who make up Iberdrola and who, with their effort and enthusiasm, make this century-old Basque company worthy of such prestigious awards as the one that brings us together today". Ignacio Galán also wanted to mention the situation in Europe, "the tragic times we are living through in Europe reinforce the need for energy self-sufficiency". The chairman of Iberdrola highlighted the "pride of being recognised in our own land" and added, "also for something that is at the heart of our business as a company: achieving real and lasting social progress through a safe and environmentally friendly energy model ". "To achieve this, it was essential to break the false opposition between economic sustainability and environmental sustainability", said Ignacio Galán, explaining that "only two decades ago, the very concept of sustainable competitiveness, which gives its name to this award, would have sounded contradictory to many". The Chairman of Iberdrola received the award in the presence of the Mayor of Bilbao, Juan Mari Aburto, the Deputy Prime Minister of the Basque Government, Idoia Mendia, the President of the General Assembly of Bizkaia, Ana Otadui, and the top representatives of the BBK and El Correo, which organised the first edition of the 'Sustainable Competitiveness' awards. Before this institutional and business representation from Bizkaia, Ignacio Galán wanted to highlight Iberdrola's roots in the Basque Country, "Iberdrola's activity contributes more than 2% to the Basque economy as a whole" and he wanted to make special mention of the company's Basque suppliers: "Many of our main suppliers are here, accompanying us in our global expansion, forming a business network around Iberdrola that employs more than 17,000 people in this land". Among the companies mentioned, he pointed out to Arteche that, together with others, "they are our partners in a multitude of innovation projects to which we allocate 340 million euros a year, making us the private utility that invests the most in R&D&I in the world ". In this regard, the Chairman of Iberdrola stressed that "many of these projects are already being developed at the Global Smart Grids Innovation Hub in Bilbao, the global centre of innovation and excellence in smart grids promoted together with the Provincial Council of Bizkaia. From its headquarters in Larraskitu, 65 companies from all over the world are developing 120 innovative initiatives to make electricity grids the backbone of decarbonisation". Ignacio Galán also highlighted that "we were pioneers 20 years ago in our commitment to renewable energies , smart grids and storage. Since then, we have invested 130 billion euros, driving our international expansion and making Iberdrola one of the top 5 electricity companies in the world". The Chairman of Iberdrola ended his speech by once again expressing his gratitude for this recognition that "encourages us to continue advancing along this path, demonstrating that the fight against climate change is an engine for growth and a source of job creation, as shown by the incorporation of 5,500 people into our company in the last 12 months". And he did not want to fail to highlight the promotion of equality "with 34% of our positions of responsibility already occupied by women". However, he concluded, "we have made a lot of progress, but there is still a lot to do and we are committed to moving forward with more enthusiasm". READ MORE
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01/03/2022Iberdrola to maintain prices despite the impact of the war on gas and electricity costs Russia's invasion of Ukraine has had a direct impact on markets, particularly energy markets. In this respect, Iberdrola is committed to maintaining its tariffs despite the war's influence on gas and electricity costs. Thus, the Basque electricity company is freezing the price of its current fixed-price contracts with its customers. In total, we are talking about seven million households that have this type of contract with the company and are not exposed to the price volatility of the wholesale market. Furthermore, a third of these customers have a contract with a stable price until 2025, so they are guaranteed the cost of the service until then. In other words, the company does not subject its customers to market fluctuations. It maintains the committed tariffs. In fact, Iberdrola does so after having offered tariffs that are below the PVPC in recent months. Similarly, the company is also maintaining prices for industrial customers and making a major effort to offer new long-term fixed price contracts at a price below the daily market benchmark. READ MORE
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28/02/2022Iberdrola extends its commitment to equality to more than 600,000 female athletes This morning, Iberdrola highlighted its commitment to women's equality through sport, which already directly benefits around 600,000 athletes. It has done so with a presentation of the 16 new National Federations that have joined the collaboration agreement that the company has been developing since 2016, reaching the number of 32. In addition, after the extension, the electricity company has more than 100 competitions with the Iberdrola naming right, including 32 leagues. Until now, Iberdrola has promoted the National Federations of Athletics, Badminton, Handball, Boxing, Ice Sports, Fencing, Football, Gymnastics, Hockey, Karate, Canoeing, Rugby, Surfing, Table Tennis, Triathlon and Volleyball, to which are added Underwater Activities, Bowling, Winter Sports, Weightlifting, Judo, Olympic Wrestling, Mountaineering and Climbing, Swimming, Skating, Pelota, Rowing, Squash, Taekwondo, Tennis, Archery and Sailing. The President of Iberdrola Spain, Armando Martínez, was in charge of unveiling the new additions at an event hosted by the sports journalist Lara Gandarillas, which was attended by a hundred female athletes representing all 32 Federations, the Councillor for Sport of the Madrid City Council, Sofía Miranda, as well as representatives of the Spanish Olympic Committee, the Spanish Paralympic Committee and the presidents of these National Federations. During the event, Martínez stressed that Iberdrola's support "now reaches 600,000 federated women, which means that we support 2 out of every 3 federated women, although the indirect support is much greater and reaches many more women and girls who practise grassroots sport". Since 2016, Iberdrola has been the main promoter of women's sport in Spain, which has resulted in a 42% increase in the number of women's licences in the Federations it supports. Reducing the gender gap in sport is a commitment to women's equality through excellence and translates into an important reference for girls, from their practice of physical activity and sport at all levels of the education system, to show them that the path to federated sport and high performance is also possible for them. In this regard, Martínez underlined the great responsibility that these great sportswomen have "to send the message to all young Spanish girls that they can do whatever sport they want, that no one can stop them. And, more importantly, to transmit values such as teamwork, effort, solidarity and professionalism". Women's contribution to the field of sport is invaluable, and the number of Olympic medals59 they have won so far is testament to this. A total of 7 women won medals at the Tokyo Games. In addition to its commitment to federated sport, Iberdrola has its own team of female ambassadors, elite sportswomen with whom it aims to empower women and raise awareness of the need for a society built on equal opportunities. They are high-level sportswomen, including Alexia Putellas, María Vicente, Ona Carbonell, Carolina Marín, Sandra Sánchez, Paula Badosa and Queralt Castellet, who won a silver medal at the Beijing Winter Games and for whom the president had words of congratulation. READ MORE
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25/02/2022Iberdrola contributes €7.836 billion in 2021 to the public coffers of the countries where it is present The positive impact of Iberdrola's activity on society is reflected, in addition to its commitment to a sustainable model that reactivates the economy and employment, in the contribution to public coffers that its activity entails around the world. Iberdrola's tax contribution amounted to €7.836 billion in 2021 globally - 5% more than the previous year, i.e., €361 million more. This figure is equivalent to the 42% of its profit before corporate taxes, other taxes and Social Security payable by the company. This increase was mainly due to the increase in energy taxes and other taxes collected as a result of Iberdrola's own economic activity. Such is the commitment, that Iberdrola has contributed €21 million in taxes per day in 2021. If the last five years are analysed, the company has allocated more than €38.5 billion to tax payments. This total tax contribution figure includes, on the one hand, the company's own taxes, which amounted to €3.215 billion euros in 2021, compared to 2.938 billion euros in 2020, and the taxes collected through its activity, which amounted to 4.711 billion euros, compared to 4.537 billion euros in 2020. By countries, Spain is the one that receives the largest contribution, with 3.469 billion euros in 2021, more than 44% of the total, while, as a result of the company's internationalisation process, its contribution to Ebitda is 33%. It is followed by Brazil, where, through its subsidiary Neoenergia, the company has contributed 2.058 billion euros in 2021. In the United States, the fiscal contribution has exceeded 1 billion euros for the first time in 2021 - specifically, it has reached 1.037 billion euros. One of the main tax items is corporate income tax, which represents a 27% of the group's own taxes. READ MORE
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25/02/2022Paula Badosa, world number 4, signs with Iberdrola as an ambassador for equality in sport Tennis player Paula Badosa, the first Spaniard to win an Indian Wells and number 4 in the world ranking, now wears the Iberdrola green that attests to her commitment as an ambassador for equality in sport. In 2021 she made the leap from a promising sportswoman to become one of the world's leading women's tennis players. She was the first Spanish player to reach the semi-finals of the Madrid Open, won the Serbian Open and reached the quarter-finals of the Olympic Games and Roland Garros. As the icing on the cake of her season, she reaffirmed her level by being the first Spanish athlete to win the Indian Wells, known as the fifth Grand Slam. Badosa adds to her extensive international track record a distinction that highlights the important role played by women in sport. The sportswoman says she feels "very happy to be part of Iberdrola's promotion of women in sport" and believes that "sport played by women is becoming stronger and stronger", which "helps the new generations to have female role models". With the incorporation of Badosa, Iberdrola has added a new member to its team of ambassadors, a programme that aims to empower women, recognise their role in society and raise awareness of the need for us all to build a society with equal opportunities. The company already has 25 top-level female athletes, with whom it continues to pave the way for women's sport to finally get the recognition it deserves. Along with Badosa, the Ambassadors team includes sportswomen such as Alexia Putellas, Carolina Marín, Queralt Castellet, Susana Rodríguez, Ona Carbonell and Sandra Sánchez, among many other elite sportswomen. Iberdrola is the first company to make a global commitment to promoting the participation of women in sports and, for more than 6 years, has been a fundamental support for Spanish sportswomen, a commitment that is consolidating and expanding as the number of Federations with which it collaborates - 16 at present, through its alliance with the Universo Mujer programme of the Spanish National Sports Council - has increased by 42%. In addition, the electricity company gives its name to 23 national leagues in different disciplines, reaching more than 300,000 sportspeople, including the Primera Iberdrola football league, which has spearheaded this objective of raising awareness, thus consolidating the company's role as a promoter of women's sport. READ MORE
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22/02/2022Record investments of €9.94 billion boost Iberdrola's net profit to €3.88 billion, up 8% on 2020 In 2021, Iberdrola continued to reaffirm its role as a driver of economic growth and employment in the countries where it operates. The company invested a record €9.94 billion in the period, 3% more than the previous year. This investment effort was focused on the smart grid business (45% of total) and renewables (44%) to accelerate the energy transition and the decarbonisation of the energy system. The United States (€2.73 billion) and Spain (€2.38 billion) accounted for more than half of the investment. Brazil, with €1.89 billion, and other countries, mainly in Europe, with €1.56 billion also saw considerable investment. Helped by increased investments and international expansion, in 2021 the company posted €3.88 billion net profit, up by 8%. The positive growth in the United States and Brazil has offset the negative performance of the generation and supply business, affected by high energy prices in Spain and the United Kingdom. The good results in 2021, and the future outlook for the renewables business, allow Iberdrola to reaffirm its growth forecasts for 2022, with net profit set to reach between €4 billion and €4.2 billion. The Chairman of Iberdrola, Ignacio Galán said: "The acceleration of investments has helped us to continue to show strong growth at a higher rate than expected. These results reflect the success of a sustainable model and encourage us to continue working towards the decarbonisation of the economy.” Growing commitment to renewables, grids and storage The company allocated more than €4.3 billion investments to renewables. This effort has enabled the group to install 3,500 MW of new clean capacity in the period, bringing total installed renewables to 38,000 MW worldwide. Capacity under construction exceeds 7,800 MW, of which 2,600 MW is related to offshore wind. Over €4.4 billion investment was attributed to smart grids, representing a 23% growth compared to year-end 2020, in line with the group's strategy of strengthening key infrastructure for the energy transition and the electrification of the economy. As a result, the company’s regulated assets stand at €33 billion. In 2021, the investment effort and operating performance boosted gross operating profit (Ebitda) to €12 billion, representing a 20% growth compared to the previous year. This means the company has achieved its gross profit forecast for 2022 one year early. The networks business showed a solid performance in all countries thanks to the regulatory frameworks in place and increased investments, despite the negative impacts of the exchange rate and covid. The electricity generation and supply business was driven by the larger installed renewables capacity, which led to a 7.9% increase in production, with a significant contribution from offshore wind technology due to the commissioning of East Anglia 1. During the year, offshore wind was confirmed as one of the group's strongest growth areas. The company has 1,258 MW in operation and capacity will grow three-fold by 2025 with the construction of 2,600 MW. The current offshore wind pipeline totals 33,400 GW. Forward-looking model on ESG principles Iberdrola continues to strengthen its commitment to environmental, social and governance (ESG) principles, which form the basis of its business model. A pioneer in the energy transition, the company is a benchmark in good governance and transparency and a driver of social transformation. The group has closed all its coal-fired power plants around the world in response to its decision to replace CO2-emitting facilities with the latest generation of clean energy. In December 2021 the chimney at the former Longannet power station in Scotland was demolished. Thanks to the growing share of renewables in its generation mix, emissions intensity has been reduced to 60 grams per kWh in Europe, advancing towards the goal of becoming a carbon-neutral company in Europe by 2030. As a result of this transformation and of the company's ongoing focus on good corporate governance, in 2021 the company obtained several accolades, including the World Finance Best Corporate Governance Awards in the United States and Spain. Iberdrola remains a benchmark in the creation of stable, quality employment. The company hired 5,500 new recruits between January and December 2021, with a clear commitment to youth employment: 40% of new recruits were people under 30 years of age. Also, the number of women in management positions continues to increase and is now 34%. 99% of the company's workforce has fixed-term contracts with each employee receiving an average of 59 hours of training per year. "Iberdrola took on the challenge of helping to decarbonise the planet through clean energy before anyone else,” said the Chairman of Iberdrola. “Many have joined this global challenge with words, but the important thing is to show commitment with actions. All companies need to show ambition, with real and credible targets and delivery. At Iberdrola, we will continue along this path," he added. Shareholder remuneration rises 5% and financial ratios improve The growth in results allows Iberdrola to recommend a shareholder remuneration of €0.44 gross per share, 5% more than in 2021. The Board of Directors will propose to the General Shareholders' Meeting the approval of a final dividend of €0.27 gross per share, which will be added to the €0.17 gross per share paid as interim dividend earlier in February. The company also improved its financial strength over the past year thanks to cash flow generation growing by 9% to €8.91 billion. In 2021, the company has once again reaffirmed its leadership in green finance, with €38.8 billion outstanding under green or sustainable formats. In addition, the company has more than 70% of revenues generated in countries with an A credit rating. Liquidity reached €19.5 billion, covering 24 months of financing needs, and the company demonstrated its ability to access markets. In an inflationary context, 80% of the company’s debt is financed at fixed rates with an average maturity of over 6 years. READ MORE
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22/02/2022Iberdrola increases its R&D&I investment by 15% to €337.5 million in 2021 Iberdrola invested €337.5 million in Research, Development and Innovation (R&D&I) activities in 2021. This amount represents an increase of 51% compared to the previous year, when the figure stood at €293 million. These resources have been allocated primarily to projects related to renewable energy, smart grids, digital transformation, green hydrogen and the development of customised solutions for our customers. As a result, the electricity company's accumulated investment in R&D&I over the last decade exceeds €2 billion. This commitment to innovation has positioned the group chaired by Ignacio Sánchez Galán as the world's most invested private utility, according to data from the report 'The 2021 Industrial Investment Scoreboard' prepared by the European Commission. Leading innovation for the energy transition Specifically, Iberdrola has continued to make progress in the implementation of smart grids and in the digitalisation of the system. Iberdrola has developed the Global Smart Grids Innovation Hub , a global innovation and knowledge centre that aims to be a global benchmark in smart grids and responds to the challenges of the energy transition. The centre acts as a driving force for innovation, combining the company's technological capacity with that of its collaborators: suppliers, universities, technology centres and start-ups. It will also serve to attract strategic suppliers and international talent, thus strengthening the business ecosystem. The company has already identified more than 120 projects for future development worth €110 million and has reached agreements with 30 technology partners for the development of grid digitalisation solutions, integration of renewables, deployment of electric vehicles and energy storage systems. The company has also inaugurated the Iberdrola Innovation and Training Campus , a 180,000 m2 complex with state-of-the-art facilities in San Agustín de Guadalix (Madrid), which is the company's global centre for knowledge, innovation and employability. With close to 13,000 people receiving training in its classrooms every year, it represents Iberdrola's commitment to technology, R&D and collaboration with technology centres as levers to lead the energy transition, the green recovery of the economy and employment, and the employability of young and senior professionals in sectors of the future. Another of the initiatives being undertaken by the company is the construction of the largest green hydrogen plant for industrial use in Europe. The Puertollano (Ciudad Real) plant will comprise a 100 MW solar photovoltaic plant, a lithium-ion battery system with a storage capacity of 20 MWh and one of the largest hydrogen production systems for electrolysis in the world (20 MW). All from 100% renewable sources. In addition, the first phase of the new Barcelona hydrogen plant is now in commercial operation, which will enable up to 60 TMB buses to be supplied with hydrogen by 2030. Artificial Intelligence for a 360-degree business view Iberdrola is leading a tractor project in Artificial Intelligence, which has been awarded the European Union's Next Generation Funds. Its objective is to develop advanced technologies that extend the useful life of renewable generation facilities, increase the efficiency, flexibility and sustainability of electricity grids and enable a new framework to accelerate prosumers' participation in the energy market. With a total budget of €16.2 million, it is the only proposal for the energy sector approved in the framework of the call "R&D&I Missions in AI" of the Spanish Government's Secretary of State for Digitalisation and Artificial Intelligence and foresees the creation of more than 30 jobs in the coming years. The consortium led by Iberdrola has the participation of technology partner Indra and nine start-ups: Ariadna, Balantia, Baobab, Barbara IoT, eProgram, Flexidao, Rated Power, Singlair and Stemy. It also collaborates with seven research centres and universities: Tecnalia, BCAM, Granada University, Polytechnic University of Madrid, University of Salamanca, Vicomtech, and the Institute of Knowledge Engineering. Iberdrola, with energy start-ups Part of the investment is also channelled through the Iberdrola PERSEO international start-up programme , which aims to facilitate the group's access to the technologies of the future and foster the creation and development of a global and dynamic ecosystem of technology companies and entrepreneurs in the electricity sector. Since its creation in 2008, PERSEO has invested more than €85 million in start-ups that develop innovative technologies and business models, focusing on those that improve the sustainability of the energy sector through further electrification and decarbonisation of the economy. READ MORE
