Iberdrola Posts Rise in Net Profit as Weak Euro Boosts UK, US Businesses
October 21 2015 - 3:17AM
Dow Jones News
By David Roman
MADRID--Spanish power utility Iberdrola SA (IBE.MC) on Wednesday
posted a 7.8% increase in net profit for the January-September
period from the same stretch last year, as a weak euro boosted the
contributions of its British and U.S. units.
Iberdrola, the largest renewable energy producer in the world,
said net profit stood at 1.92 billion euros ($2.18 billion), up
from EUR1.78 billion in the first nine months of 2014.
Operating profit rose 5.8% to EUR5.43 billion. Iberdrola's power
output fell 1.6% during the period from the previous year, mostly
the result of declines in Spain's market, plagued by overcapacity
in recent years after new generation plants were added at a
breakneck pace in the first decade of the century.
The company has 45,468 megawatts of installed capacity in Europe
and the Americas.
Write to David Roman at david.roman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 21, 2015 03:02 ET (07:02 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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