Iberdrola earns 1025 million in the first quarter of the year, 19.5% less
Iberdrola has obtained a net profit of 1025 million euros in the first quarter of the year, which translates into 19.5% less of what it obtained in 2020, which amounted to 1,272 million. Among the factors that explain this decline, is the sale of its stake in Siemens Gamesa, which accounted for 8.07% of the company and 485 million in capital gains for the electricity company, according to EFE.
The adjusted net profit, which excludes these effects, was 1082 million, 12.4% more than what it obtained in the first three months of 2020. The entity assures in a statement that this reduction in profit is due to the effects of the coronavirus crisis and lower demand.
The Operating Profit (Ebitda), on the other hand, was 2,814.1 million euros, which implies an increase of 1.5% compared to the first quarter of 2020, when it reached 2,771 million. Ebit also rises to 1,712 million euros, which, in relative terms, is 3% of what this item reflected in the first quarter of 2020.
As for Iberdrola’s gross margin, it amounted to 4,604 million euros in the first quarter of 2021, which in relative figures means an improvement of 1.3% compared to the same period in 2020. In addition, the income derived from sales They rose 7% from the 9,425 million euros that were accounted for from January to March 2020 to the 10,088 million registered in the first quarter of this year.
In terms of net debt, Iberdrola has registered a 1.29% increase compared to the end of 2020, standing at 36,389 million compared to the 35,925 million that were reflected in the last month of 2020, while in terms of financial leverage , the company has presented a reduction of 1.2 percentage points with respect to this same period. to position itself at 42%.
The utility has highlighted that the quarterly figures are better than expected and has reaffirmed its objectives that the Net profit reaches between 3,700 and 3,800 million euros at the end of the year and to pay a dividend of 0.44 euros per share.