Iberdrola's 2024 performance shows that its focus on the energy transition and operational efficiency is yielding positive results.
A record investment of €17 billion during the year helped drive a 17% increase in net profit to €5.612 billion. A significant share of the investment was directed towards the United States and the United Kingdom, where €12 billion has been allocated. Proceeds from divestments in fossil fuel generation, including assets linked to Avangrid and ScottishPower, along with €1.1 billion in capital gains, have been reinvested to enhance efficiency and support future performance. The company also proposed a dividend of €0.635 per share, following an earlier interim dividend of €0.231 per share.
Infrastructure investments, with spending on networks reaching €11.2 billion, more than double the previous year's figure, and additional growth in transmission investments in the US and the UK. In the renewable sector, nearly €5.5 billion was invested, leading to the commissioning of 2,600 MW of new capacity and increasing the total renewable portfolio to over 44,000 MW. Furthermore, €9.2 billion remains allocated to projects under construction, most of which are expected to be completed in 2025 and 2026.
Looking ahead, the outlook for 2025 has been revised upwards, with expectations of mid- to high-single digit net profit growth, excluding extraordinary items. Iberdrola will continue to prioritise grid investments and adopt a selective approach to renewable projects, building on its improved business profile and the positive market environment.
