MADRID, 14 (EUROPA PRESS)
Iberdrola has reached new highs in market capitalization, surpassing €108.4 billion, after its shares rose 2.14% on the stock market this Thursday.
The electric company's shares, which have consolidated their position as Europe's leading company and one of the two largest in the world by market capitalization, rebounded in the trading session to €16.225 per share, approaching the highs they reached at the end of last June (€16.705).
The energy company chaired by Ignacio Sánchez Galán is worth more than all Spanish energy companies combined and is firmly established as the Spanish company with the greatest weight in the Ibex 35.
At the end of July, the group, which will hold its Capital Markets Day in London next September to update its roadmap, announced a capital increase of approximately €5 billion to advance its network business strategy in the United States and the United Kingdom, as well as the sale of its businesses in Mexico for approximately €3.7 billion to the Cox Group.
TARGETS NEW RECORD PROFITS IN 2025.
Added to this is the fact that first-half results also exceeded analysts' expectations, pointing to new record profits for the year. Iberdrola posted a net profit of €3.562 billion in the first half of this year, a 20% increase compared to the adjusted result for the first half of 2024.
Thanks to its international business, primarily focused on grids, with selective investment in renewables and significant financial strength, the company forecasts a double-digit increase in adjusted net profit for 2024, taking into account the recognition of past costs in the United States and excluding capital gains from asset turnover.
This growth is supported by a growth in regulated assets exceeding 10%, thanks to the positive regulatory frameworks in the United States, the United Kingdom, and Brazil, as well as the integration of the British company ENW.
In addition, Iberdrola plans to bring nearly 1,400 megawatts (MW) into operation in the second half of the year, has signed energy sales contracts for 4.7 terawatt hours (TWh) in power purchase agreements (PPAs) in the last 12 months, and has hydroelectric reserves at record highs with nine TWh available, which optimize storage management.
Since 2001, Iberdrola's stock has increased in value from 3.5 euros to over 16 euros, and it has distributed around eight euros in dividends.
In addition to this profitability, analysts value the group's commitment to its shareholders and its dividend. As approved at the general shareholders' meeting, Iberdrola has increased shareholder remuneration to €0.645 per share, charged to 2024 earnings. In fact, on July 24, the company paid the final dividend of €0.409 per share.
