Spanish utility group Iberdrola SA (BME:IBE) on Wednesday reported a web revenue of EUR 4.34 billion (USD 4.62bn) for the fiscal yr 2022, up by 11.7% year-on-year, on stronger worldwide efficiency which made up for the 19% web revenue drop in Spain.
Revenues grew by 37.9% to EUR 53.95 billion, whereas EBITDA totalled EUR 13.23 billion, up 10%, owing to a diversified geographical footprint.
The corporate highlighted the power of its US and Brazilian operations and a file quantity of investments — totalling EUR 10.7 billion — for its good fortunes in 2022. It additionally stated it had overcome international provide chain points, which enabled it to buy items and providers price EUR 17.8 billion final yr.
Iberdrola’s electrical energy manufacturing and prospects enterprise, which incorporates renewables, standard technology and retail, boosted web revenue by 10.2% year-on-year to EUR 2.73 billion. Spain was its solely market the place energy manufacturing and retail income declined in comparison with 2021, in keeping with the monetary outcomes. Manufacturing from renewables in Spain dropped by 16.2% resulting from a major drop in hydroelectric output and a barely decrease onshore wind output.
The networks enterprise, which Iberdrola operates in Spain, the UK, the US and Brazil, grew web revenue by 49.1% to EUR 2.18 billion.
As for steerage, Iberdrola expects web revenue to rise by 8% to 10% in 2023, or to file a mid-single-digit development if the brand new income tax in Spain is included, which is able to shave off 1.2% of its home turnover within the unregulated electrical energy phase.
Iberdrola had near 40 GW of put in renewables throughout a variety of applied sciences on the finish of 2022. It stated that it has roughly 7.7 GW below development, with offshore wind accounting for some 3.5 GW of that.
(EUR 1.0 = USD 1.064)
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