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The quarter was marked by good performances from all the businesses. Group EBITDA to the end of March was €2.3235 billion, representing an increase of 24% relative to the same period of last year. Iberdrola obtained a net profit of €838 million in the first quarter of the year, representing a 1.2% increase on the same period of last year.
 
Investments also increased, by 14.1%, to reach €1.1853 billion. Of this, 40% was for networks, 37% for renewable energy and 23% for generation and retail.

So far in 2018, the company has commissioned 1,905MW new of renewables and contracted generation, of a total of 7,790MW currently in development which will be operational by 2020, as well as another 1,301MW for 2022.

The networks business posted EBITDA of €1.2 billion (+17.5%), with improvement in all countries except the UK, where it was affected by fluctuations in the value of the sterling pound.

The renewables area also performed positively, with an increase of 13.9% in its EBITDA, to €603.5 million. This growth was driven by improved wind conditions and the increase in installed capacity, to 29,275MW (+5%), including the offshore wind farm in Germany, Wikinger, in operation since last December.

The generation and retail business also increased its results, driven by the operating recovery in Spain and the UK thanks to the return to normal of the weather conditions experienced in those countries compared with the first quarter of 2017.

Iberdrola can anticipate EBITDA of more than €9 billion and net profit of close to €3 billion for full year 2018.
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