In 2007 net profit of Iberdrola grew by 42%

21.02.2008 // RBC

In 2007 the net profit of Iberdrola (Spain) grew by 42% to 2.35bln EUR

In 2007 the net profit of the second biggest Spanish energy company, Iberdrola SA, grew by 42% to 2.35bln EUR from 1.66bln EUR in 2006. The company’s EBITDA grew by 42% from 3.89bln EUR to 5.54bln EUR. The incomes grew by 59% from 11bln EUR to 17.5bln EUR.

In 2007 Iberdrola performed better than was expected. Its experts say that it was due to the purchase of Scottish Power Plc.

Iberdrola is the world’s biggest electricity producer at wind power plants. The company also operates water and nuclear power plants and transports and distributes electricity and natural gas. It is active in Brazil, Mexico, Bolivia, Chile and Guatemala. In Apr 2007 Iberdrola bought Scottish Power Plc. (the United Kingdom) for 12bln pounds (15,9bln EUR). Presently, the company is buying Energy East Corp. (the Untied States) for 6.4bln EUR.