Iberdrola obtained a net profit of €963.9 million in the first quarter of 2019, 15% more than in the same period of the previous year. The company's revenues increased by 8.5%, reaching €10.138 billion, and the gross margin improved by 7.8% to reach €4.323 billion for the quarter.
The Renewables business posted operating profit of €683.6 million, up by 13.3%. This business was driven by the increased contribution from renewables in the UK and Latin America, as well as from offshore wind power thanks to the contribution from the Wikinger windfarm, in the German section of the Baltic Sea.
During the first quarter of the year, Iberdrola installed 331MW, which together with the more than 3,803 new MW scheduled for the remainder of 2019 will bring the total to 4,134 new MW installed over the course of the year.
Iberdrola currently has a portfolio of renewable energy projects in excess of 39,500 MW. The majority of this planned capacity is in the USA (more than 17,900 MW) and the Iberian Peninsula (more than 10.600 MW). The remainder is in the UK (4,300 MW), Mexico (2,600 MW), Brazil (1,900 MW) and the rest of the world (2,300 MW). This project portfolio is appropriately diversified between wind and solar, and high-quality offshore wind assets.
