Press Releases
10/31/2019
Iberdrola Group Net Earnings Up 1.3% in 2012
Iberdrola Group Net Earnings Up 1.3% in 2012
Increase driven by 35% rise in international profit
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February 14, 2013
PORTLAND, Ore. — Iberdrola Renewables LLC, the renewable energy division of parent company IBERDROLA, S.A., shared highlights of its parent company’s 2012 financial results reported today in London. You may view the original Iberdrola S.A. news release here.
- 2012 Group revenues rose 8.1% to €34.2 billion, while gross margin increased 4.6% to €12.6 billion and operating cash flow rose 2.5% to €6.2 billion.
- EBITDA increased 1% to €7.73 billion.
- Net earnings rose 1.3% to €2.84 billion, driven by a 35% earnings growth in international business.
- Worldwide installed renewable generation capacity increased 2.5% to more than 14,000 megawatts.
Iberdrola continued to strengthen its balance sheet by selling €850 million (of the €2 billion planned) of non-strategic assets, limiting capital investments to €3.26 billion and reducing debt by €1.4 billion to €30.3 billion.
Iberdrola Renewables
U.S. wind output in 2012 totaled 13,928 gigawatt hours (GWh), a 7.6% increase compared to 2011, and the equivalent of powering 1.2 million typical American homes with clean, renewable electricity. U.S. wind output is the largest portion of Iberdrola’s worldwide renewable generation portfolio, which now exceeds 14,000 megawatts (MW) in installed capacity.
The worldwide renewables business’ gross margin grew by 12.3%, with the U.S. renewables business growing by 7.9%.
Iberdrola Renewables added three new wind farms to its U.S. fleet at the end of 2012, adding to a portfolio of clean energy projects that now spans 19 states. The farms, which all reached commercial operation in December, represent a total investment of approximately $700 million, and have most of the power subscribed under long-term contracts. Earlier in 2012, Iberdrola Renewables completed a 46-MW project in Pennsylvania, a 100-MW project in Iowa, a 304-MW project in Ohio and a 30-MW solar project in Colorado.
Iberdrola Renewables, LLC is the U.S. renewable energy division of parent company IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Iberdrola Renewables, LLC is headquartered in Portland, Ore., and has over $9 billion of operating assets totaling more than 5,500 MW of wind and solar generation. www.iberdrolarenewables.us
Media Contact:
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
