Hikes FY guidance (Il Sole 24 Ore Radiocor) - Madrid, 24 Apr - The Spanish utility Iberdrola said that in the first quarter its net profit rose to 2.76 billion euros from 1.49 billion a year earlier as EBITDA grew to 5.86 billion from 4.07 billion.

The company's results were lifted by the disposal of Mexican assets in the first quarter, which contributed 1.72 billion at the EBITDA and 1.16 billion at the net profit level.

Excluding non-recurring items, EBITDA increased 10% and net profit rose 28%.

Operating cash flow (FFO) rose 5% to 3.14 billion euros.

Iberdrola increased its guidance for the year. It is now forecasting high-single-digit net profit growth in 2024, excluding capital gains from asset rotation.

The company said that a total of 12 billion euros are expected to be invested in 2024.

AAA-Web

(RADIOCOR) 24-04-24 11:49:13 (0336) 5 NNNN