Nine Months 2024 Iberdrola SA Earnings Call Transcript
Key Points
- Iberdrola SA (IBDRY) reported a 50% increase in net profit, reaching EUR5,471 million for the first nine months of 2024.
- The company's EBITDA increased by 23% to EUR13,269 million, with an 11% growth in recurring terms.
- Iberdrola SA (IBDRY) has a strong liquidity position with over EUR22 billion, sufficient to cover 20 months of financial needs.
- The company has secured 90% of its network and renewable supplies through 2026, ensuring stability in its supply chain.
- Iberdrola SA (IBDRY) increased its interim shareholder remuneration by 14% to EUR0.23 per share, reflecting strong financial performance.
- FX evolution had a minor negative effect on results, with the Brazilian real depreciating by 4.5% and the dollar by 0.2%.
- EBITDA in the UK fell by 20% due to a positive one-off related to tariff deficit recovery in 2023 and a negative one-off issue at an offshore wind farm.
- In Brazil, EBITDA decreased by 7.8% due to lower thermal contribution, despite higher wind resource and hydro asset contributions.
- The company faces potential regulatory challenges in Spain, with discussions about extending a 1.2% revenue tax.
- There are concerns about supply chain bottlenecks, particularly in the availability of vessels for offshore wind projects.
(spoken in foreign language) Good morning, ladies and gentlemen. First of all, we would like to offer a warm welcome to all of you who have joined us today for our 2024, nine months results presentation. As usual, we will follow the traditional format given in our events.
We are going to begin with an overview of the results and the main developments during the period given by the top executive team that usually is with us. Mr. Ignacio Galan, Executive Chairman; Mr. Armando Martinez, CEO; and finally, Mr. Pepe Sainz, CFO. Following this, we'll move on to the Q&A session.
I would also like to highlight that we are only going to take questions submitted via the web. So please ask your question only through our web page, www.iberdrola.com. Finally, we expect that the today's event will not last more than 1 hour. Hoping that this presentation will be useful and informative for all of you. Now without further ado, I would like to give the floor to Mr. Ignacio Galan.
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