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Iberdrola obtained a net profit of €3.4 billion in 2019, which represents an increase of 13% compared to the previous year. This result was driven by €8.16 billion investments delivered during the year (+32%).
Gross operating profit, or EBITDA, exceeded €10 billion for the first time (€10.1 billion), an increase of 8.1% on 2018. At €2.38 billion, Renewables EBITDA was 2.4% down, with increased wind production partly offsetting low hydroelectric output, particularly in Spain.
Of the total investment amount, 44% went to networks and 41% to renewables, two areas which experienced growth of 19% and 85% to €3.59 billion and €3.34 billion respectively. As a result, the company installed 5.500MW in all markets during 2019, compared with the 1,000MW annual average in previous years. In addition, the company is currently building 9,000MW in Spain, Portugal, the UK, the US, Mexico, Brazil and other new markets such as Australia, scheduled to be commissioned in 2021 and 2022. The company also has a project pipeline of over 40,000MW worldwide in different stages of development.
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