Iberdrola has reported higher profits for the first nine months of 2026, supported by growth in its networks business across all regions. Following its performance in the first nine months, Iberdrola has raised its full-year outlook and now expects adjusted net profit to grow by at least 10% in 2026.
Net profit rose by 10% to €5.8 billion. Adjusted net profit increased by 9% to €5.1 billion, or 13% excluding foreign exchange effects. Adjusted earnings before interest, taxes, depreciation and amortisation increased by 7% to €11.9 billion, driven by a 15% rise in the networks business, reflecting a larger asset base across all countries and a growing contribution from transmission assets.
The company invested €10.1 billion during the period, an increase of 13% year on year, with almost 75% allocated to the UK, USA and Brazil. Network investment reached €6.3 billion, up 28%, while the regulated asset base increased by 14% to €56 billion. Investment in power generation and customer businesses totalled €3.6 billion, contributing to a year-on-year capacity increase of 3,300 MW.
Iberdrola reported adjusted net debt to adjusted earnings before interest, taxes, depreciation and amortisation of 3.4 times, with around 80% of its debt at fixed interest rates. Liquidity stood at €23 billion, covering approximately 20 months of financing needs.
The company has proposed interim shareholder remuneration of €0.275 per share, an increase of 8.7%. A supplementary dividend will be announced in 2027 following the annual general meeting.
The company aims to maintain an average annual growth rate of 10% in adjusted net profit over the next five years. It expects its global regulated asset base to exceed €90 billion by 2030, supported by growth in its networks business across all countries. In power generation, Iberdrola targets an additional 15 GW of capacity between 2025 and 2030.
