| Financial performance (€M) | ||||||
|---|---|---|---|---|---|---|
| 20161 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) | |
| Revenues | 29,215 | 31,263 | 35,076 | 36,438 | 33,145 | 3.2 |
| Consolidated gross margin | 12,916 | 13,364 | 15,435 | 16,263 | 16,145 | 5.7 |
| Consolidated EBITDA | 7,808 | 7,319 | 9,439 | 10,104 | 10,010 | 6.4 |
| Networks (Regulated) EBITDA | 4,082 | 4,228 | 4,915 | 5,262 | 4,778 | 4.0 |
| Spain | 1,603 | 1,520 | 1,709 | 1,711 | 1,612 | 0.1 |
| United Kingdom | 976 | 886 | 919 | 987 | 1,000 | 0.6 |
| United States | 1,270 | 1,334 | 1,331 | 1,330 | 1,087 | (3.8) |
| Brazil | 233 | 489 | 955 | 1,234 | 1,079 | 46.7 |
| Renewables EBITDA2 | 1,500 | 1,755 | 2,446 | 2,386 | 2,586 | 14.6 |
| Spain | 497 | 616 | 919 | 736 | 698 | 8.8 |
| United Kingdom | 267 | 392 | 518 | 525 | 758 | 29.8 |
| United States | 564 | 530 | 573 | 591 | 592 | 1.2 |
| Brazil | 25 | 66 | 129 | 125 | 111 | 45.4 |
| Mexico | 52 | 53 | 65 | 86 | 93 | 15.6 |
| International | 95 | 99 | 242 | 323 | 334 | 36.8 |
| Wholesale and Retail (Liberalised) EBITDA2 | 2,247 | 1,464 | 2,038 | 2,469 | 2,565 | 3.4 |
| Spain | 1,521 | 779 | 1,001 | 1,558 | 1,469 | (0.9) |
| United Kingdom | 294 | 108 | 307 | 110 | 250 | (4.0) |
| Brazil | (3) | 51 | 92 | 64 | 59 | – |
| Mexico | 436 | 525 | 638 | 762 | 790 | 16.0 |
| International | – | – | (26) | (25) | (0) | – |
| Other businesses EBITDA | (105) | 13 | 29 | 28 | (1) | 66.0 |
| Corporation EBITDA and adjustments | 84 | (141) | (78) | (41) | 84 | (0.0) |
| Amortisation, deprecation, provisions and other | (3,254) | (4,606) | (3,910) | (4,227) | (4,474) | (8.3) |
| Operating profit (EBIT) | 4,554 | 2,713 | 5,439 | 5,877 | 5,536 | 5.0 |
| Financial results | (903) | (937) | (1,156) | (1,300) | (991) | (2.3) |
| Results from companies consolidated by the equity method (net of taxes) | 49 | (29) | 56 | (51) | (5) | – |
| Results from non-current assets | 48 | 279 | 9 | 203 | 513 | 80.6 |
| Pre-tax profit (EBT) | 3,748 | 2,026 | 4,348 | 4,729 | 5,053 | 7.8 |
| Corporate income tax | (905) | 1,397 | (959) | (914) | (1,083) | (4.6) |
| Minority interests | (138) | (366) | (323) | (348) | (341) | (25.4) |
| Net attributable profit | 2,705 | 2,804 | 3,014 | 3,466 | 3,611 | 7.5 |
| Total assets | 106,706 | 110,689 | 113,038 | 123,025 | 122,518 | 3.5 |
| Shareholders' equity | 40,687 | 42,733 | 43,977 | 47,195 | 47,219 | 3.8 |
| Gross investments | 5,009 | 6,632 | 6,173 | 8,158 | 9,246 | 16.6 |
| Funds from Operations (FFO) | 6,311 | 6,479 | 7,328 | 8,060 | 8,193 | 6.7 |
| Adjusted net Bank borrowings | 29,230 | 32,856 | 34,149 | 37,769 | 35,142 | 4.7 |
Download Financial performance Excel
| Financial ratios | ||||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) |
|
| EBITDA margin (EBITDA / Revenues) (%) | 26.7 | 23.4 | 26.7 | 27.7 | 30.2 | 3.1 |
| Net profit margin (Net profit / Revenues) (%) | 9.3 | 9.0 | 8.6 | 9.4 | 10.9 | 4.2 |
| NOE / Gross margin (%) | 27.7 | 31.2 | 26.9 | 26.6 | 26.7 | (0.9) |
| Net financial debt / EBITDA (multiple) | 3.77 | 4.49 | 3.653 | 3.74 | 3.5 | (1.8) |
| Financial leveraging (%) | 42.0 | 43.5 | 43.73 | 44.7 | 43.2 | 0.7 |
| Funds from Operations (FFO) / Net financial debt (NFD) (%) | 21.5 | 19.7 | 21.53 | 21.5 | 23.5 | 2.2 |
| Retained cash flow (RCF / NFD) (%) | 19.1 | 17.2 | 20.23 | 20.0 | 21.3 | 2.8 |
| Return on equity (ROE) (%) | 7.3 | 7.8 | 8.43 | 9.2 | 9.7 | 7.4 |
Download Financial ratios Excel
| Stock market performance | ||||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) |
|
| Stock market capitalisation at year-end (€M) | 39,661 | 40,811 | 44,898 | 58,404 | 74,296 | 17.0 |
| Number of shares at end of period (millions) | 6,362 | 6,318 | 6,398 | 6,362 | 6,350 | (0.0) |
| Share price (€) | 6.23 | 6.46 | 7.02 | 9.18 | 11.70 | 17.0 |
| Earnings per share (EPS) | 0.42 | 0.44 | 0.47 | 0.53 | 0.55 | 7.0 |
| Dividend per share (DPS)3 | 0.286 | 0.317 | 0.331 | 0.356 | 0.405 | 9.1 |
| Dividend yield (%) | 4.59 | 4.91 | 4.72 | 3.87 | 3.46 | (6.8) |
| Total dividend (Including cash payments) (€M) | 1,966 | 1,966 | 2,077 | 2,247 | 2,517 | 6.4 |
| Payout ratio (%) | 72.7 | 71.2 | 68.9 | 66.0 | 73.9 | 0.4 |
| Share price / net earnings per share (PER) | 14.66 | 14.55 | 14.90 | 17.15 | 21.79 | 10.4 |
Download Stock market performance Excel
(1) For purposes of this report, 2016 is not re-stated due to the discontinuation of the engineering business, which only appears as such beginning in 2017.
(2) In financial years 2017 and following, hydroelectric production activity is classified within the Renewables business.
(3) Data adjusted due to the effect of potential accumulator derivatives on treasury shares (€50 million at 31/12/2018).
Statement of Non Financial Information. Sustainability Report
Quarterly Results Report Consolidated Annual Financial
Statements
| Operating performance | ||||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) |
|
| Total installed capacity (MW)1 | 47,049 | 48,447 | 46,694 | 52,082 | 55,111 | 4.0 |
| Net Own Capacity | 42,707 | 43,811 | 42,058 | 45,702 | 47,965 | 2.9 |
| Third-party Capacity | 4,342 | 4,636 | 4,636 | 6,380 | 7,146 | 13.3 |
| Net production (GWh)1 | 142,466 | 137,549 | 145,605 | 151,714 | 162,842 | 3.4 |
| Net Own Output | 112,069 | 105,239 | 115,134 | 114,030 | 123,463 | 2.5 |
| Net Third-party output | 30,397 | 32,310 | 30,471 | 37,684 | 39,378 | 6.7 |
| Distributed energy (GWh) | 229,920 | 230,151 | 233,409 | 233,541 | 224,998 | (0.5) |
| Km. of lines | 1,117,444 | 1,156,611 | 1,173,672 | 1,191,513 | 1,206,783 | 1.9 |
Download Operating performance Excel
| Environmental performance | ||||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) |
|
| Own emission-free installed capacity (%)4 | 73 | 74 | 77 | 77 | 79 | 2.1 |
| Own emission-free output (%)4 | 72 | 70 | 74 | 72 | 75 | 0.9 |
| Own specific CO2 emissions (t/GWh)4 | 131 | 136 | 112 | 110 | 98 | (7.0) |
| Fuel consumption (GJ) | 764,386,296 | 760,201,810 | 706,835,480 | 764,408,401 | 770,867,957 | 0.2 |
| Environmental investments (€M) | 2,262 | 2,240 | 2,133 | 3,712 | 5,116 | 22.6 |
| Environmental expenses (€M) | 527 | 513 | 550 | 700 | 671 | 6.2 |
| Energy produced under certified environmental management systems (%) | 82 | 80 | 80 | 83 | 78 | (1.5) |
| Water use / overall production (m3/GWh) | 573 | 597 | 604 | 583 | 434 | (6.7) |
| Direct emissions of CO2. Scope 1 (kt) | 15,637 | 15,020 | 13,328 | 12,928 | 13,136 | (4.3) |
| Indirect emissions of CO2. Scope 2 (kt) | 4,504 | 3,415 | 2,544 | 2,082 | 2,001 | (18.4) |
| CO2 avoided due to efficiency initiatives (kt) | 16,853 | 23,460 | 24,334 | 21,799 | 31,300 | 16.7 |
| SO2 emissions (t/GWh) | 0.047 | 0.038 | 0.023 | 0.011 | 0.008 | (35.5) |
| NOx emissions (t/GWh)5 | 0.140 | 0.113 | 0.085 | 0.3635 | 0.375 | 27.9 |
Download Environmental performance Excel
| Social performance | ||||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 2020 | Δ Annual average 2016-2020 (%) |
|
| Consumers (millions)3 | ||||||
| Electric power | 29.0 | 29.0 | 29.5 | 29.8 | 30.1 | 1.0 |
| Spain | 10.2 | 10.2 | 10.1 | 10.1 | 10.0 | (0.5) |
| United Kingdom | 3.2 | 3.0 | 3.0 | 2.8 | 2.8 | (3.0) |
| United States | 2.2 | 2.2 | 2.3 | 2.3 | 2.3 | 0.9 |
| Brazil | 13.4 | 13.6 | 13.8 | 14.0 | 14.3 | 1.6 |
| IEI | – | – | 0.3 | 0.6 | 0.7 | – |
| Gas | 4.0 | 4.0 | 4.1 | 4.2 | 4.3 | 1.8 |
| Spain | 0.9 | 1.0 | 1.0 | 1.0 | 1.1 | 5.1 |
| United Kingdom | 2.1 | 2.0 | 2.0 | 1.9 | 1.9 | (2.3) |
| United States | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 0.6 |
| IEI | – | – | 0.1 | 0.2 | 0.3 | – |
| Number of employees | 34,082 | 34,255 | 34,078 | 35,374 | 37,127 | 2.2 |
| Permanent contracts (%) | 98.4 | 99.4 | 99.0 | 99.1 | 99.6 | 0.3 |
| Employees with collective bargaining agreement (%) | 79.3 | 77.2 | 78.9 | 78.7 | 77.9 | (0.4) |
| Employee turnover (%) | 7.3 | 7.8 | 10.7 | 6.6 | 6.1 | (4.6) |
| Diversity (men / women) | 76/24 | 77/23 | 77/23 | 77/23 | 77/23 | – |
| Injury rate (IR)9 | 1.8 | 1.8 | 1.4 | 1.3 | 1.2 | (9.8) |
| Hours of training (millions of hours)6 | 1.4 | 1.5 | 1.6 | 1.8 | 2.0 | 9.6 |
| Hours of training per employee trained (h)6 | 45.3 | 41.8 | 45.2 | 54.9 | 53.4 | 4.2 |
| Funds for social development (€M)7 | 106.7 | 341.2 | 243.1 | 92.4 | 125.9 | 4.2 |
| Contributions to society (€M) | 57.7 | 63.0 | 53.5 | 52.3 | 83.8 | 9.8 |
| Rural electrification programmes (€M) | 49.0 | 278.2 | 189.6 | 40.1 | 42.0 | (3.8) |
| Investments in R&D (€M) | 211 | 246 | 267 | 280 | 293 | 8.5 |
| General procurement (€M billed)8 | 7,508 | 8,648 | 7,753 | 8,717 | 8,494 | 3.1 |
| Purchases from local suppliers (%) | 84 | 88 | 85 | 89 | 89 | 1.5 |
Download Social performance Excel
Statement of Non Financial Information. Sustainability Report
Quarterly Results Report Consolidated Annual Financial
Statements
(1) All data for Production and Installed Capacity include the power stations in which Iberdrola has a stake, based on its percentage interest.
(2) Since 2018 subtransmission in the United States and Brazil is recorded as distribution network. Until then it was recorded as transmission network.
(3) Consumers: for electric power, total number of customers is used where there are areas of electricity distribution and retailing, supply points are used for the other areas. For gas: total number of gas customers is used, except for the United States, where total number of supply points is used.
(4) Calculated on own production.
(5) Change in method for calculating NOx emissions in Mexico.
(6) The exceptional situation caused by COVID-19 has significantly reduced face-to-face training. Thanks to a tremendous effort, a large part of training activity has been adapted for delivery by remote means, which has led to a considerable increase in the proportion of on-line training hours.
(7) Increase in contribution to society in 2020 due to the company’s effort in the fight against COVID-19.
(8) Amount awarded in 2020: €14,071 million.
(9) Injury rate (IR) = (number of accidents with leave*1,000,000) / hours worked.