Iberdrola: beats expectations, offers positive outlook

(CercleFinance.com) - Spanish power firm Iberdrola gave a positive outlook on Wednesday after reporting higher 2018 profit resulting from its international growth.


The group said gross operating profit (EBITDA) reached 9.35 billion euros in 2018, up 27.7% from the previous year, with net profit that is up 7.5% at 3.01 billion euros.

This is the first time that the group's net profit has exceeded the 3 billion euro threshold, it said.

As a result, the company's board of directors will ask shareholders to approve a complementary dividend of 0.20 euro per share in addition to the 0.151 euro already paid as an interim dividend for 2018.

For 2019, Iberdrola expects to deliver mid-single digit growth, both in terms of net profit and EBITDA.

This positive outlook prompted the shares to rise this morning in Madrid, adding 1.7% at 7.2 euros.

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