FINANCIAL STRATEGY

A diversified investor base and reduced financing risk

 Outlook 2020-2025 presentation [PDF]

Debt capital represents an important financing source for the Iberdrola group. Central to Iberdrola's financial strategy is its target financial ratios.

Iberdrola seeks to, whenever possible, centralize its financing activities, however there are circumstances when the group considers it necessary to arrange finance at the subsidiary level. This means that the majority of financing is conducted at the Iberdrola S.A. level or conducted through instruments with the guarantee of Iberdrola S.A.

Iberdrola S.A. places importance on having a diversified investor base and on reducing financing risks. Iberdrola therefore issues in different markets, currencies and with varying maturities.

The illustrations below show Iberdrola group's solvency ratios and adjusted net debt at 30 June 2021 showing the financial strength of the group.

Results Presentation First Half 2021. Adjust Net Debt of the Group. Solid financial position, with improvement of key credit metrics with 12 months FFO reaching EUR 8.6 bn (+5.6%).

Debt as at 30 June 2021 can be broken down by currency and interest rate, as follows:

This debt can be broken down by financing source as follows:

The slide below shows Iberdrola Group's liquidity position and debt maturity profile 30 June 2021:

Iberdrola group's liquidity * position at 30 June 2021
LIQUIDITY* EUR M
CASH, CASH EQUIVALENTS AND IFTS 3,666
BACK-UP FACILITIES 9,800
CREDIT FACILITIES 2,626
ARRANGED FINANCING 1,489
TOTAL 17,581

* Includes operations signed after 30 June.