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Iberdrola achieved a net profit of € 3.014 billion in 2018, 7.5% more than in the previous year. It is the first time the group's earnings have exceeded € 3 billion. Capital expenditure undertaken by the company amounted to € 5.32 billion in the year, with total investments reaching € 20 billion over the past four-year period. In addition, under construction are 6,606MW renewable capacity (1,514MW of offshore wind capacity, 2,548MW onshore wind, 628MW of solar technology and 1,916MW of hydroelectric power), and 3,508MW in new gas combined-cycle plants.
Iberdrola's revenues in 2018 amounted to € 35.075 billion, representing an increase of 12.2% relative to 2017. Gross profit also improved, reaching € 15.435 billion, up 15.5% year on year. Gross operating profit (EBITDA) was € 9.348 billion, up by 27.7% year on year. Performance has been positive in all businesses, with over 10% growth.
In Networks, EBITDA stood at € 4.915 billion, representing an increase of 16.2% from previous year, with improvements in all countries. In Renewables, EBITDA amounted to € 2.444 billion, a 39.3% increase, driven by growth in all markets thanks to higher production (+21.7%) and increased installed capacity, which now stands at 29,177MW worldwide. Generation and Supply also posted improved results in all geographical regions, reaching EBITDA of € 2.038 billion, up by 39.3%.
Neoenergia, Iberdrola's Brazilian subsidiary, fully consolidated since the second half of 2018, posted a net profit of R$ 1.536 billion, up by 278%. In the USA, subsidiary company Avangrid, in which Iberdrola holds an 81.5% stake, obtained a net profit of US$ 684 million for the year.
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