Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Iberdrola 9-Month earnings above forecasts

Source: Reuters - Wed 20th Oct 2010

Spain's largest power utility, Iberdrola reported a rise in nine-month core earnings above analysts' estimates, driven by growth at its Spanish deregulated power business and in renewables. Net profit grew 2 percent and also beat analysts estimates, with cost cutting and positive currency effects offsetting lower one-time gains year-on-year.

The company said Iberdrola USA posted solid growth thanks to cost control while the UK business fared worst.

Iberdrola's renewables division reported 19.4 percent growth in nine-month core earnings on Monday thanks to new capacity in the United States and Spain. Iberdrola's net profit hit 2.07 billion euros. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 12.4 percent to 5.56 billion euros. A poll of 11 analysts had expected on average group EBITDA of 5.48 billion euros ($7.6 billion), with net profit coming in at 2 billion.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs