Iberdrola Group Net Earnings Up 1.3% in 2012
Increase driven by 35% rise in international profit
ROCHESTER, N.Y., Feb. 14, 2013
ROCHESTER, N.Y., Feb. 14, 2013 /PRNewswire/ --
oGroup revenues rose 8.1%
oDebt was reduced by nearly €1.4 billion
oOperating cash flow rose 2.5%
oLiquidity passes €12 billion – enough to meet needs for more than three
oBoard maintains dividend of €0.3 per share
Here are some highlights from global energy leader Iberdrola (IBDRY:US) 2012
financial results reported today in London. You may view the original
Iberdrola S.A. news release here: http://bit.ly/YZzeGc .
o2012 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
oEBITDA increased 1% to €7.73 billion.
oNet earnings rose 1.3% to €2.84 billion, driven by a 35% earnings growth
in international business.
oWorldwide 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
US networks business distributed 31,573 gigawatt hours of electricity to
customers in Maine and New York - a rise of 1.2% from 2011. US networks EBITDA
rose 20.5% to €660.2 million, helped by higher revenues and favourable
Operations highlights for the year include Central Maine Power (CMP) reaching
the half-way point in construction of the Maine Power Reliability Program, a
$1.4 billion upgrade to the New England transmission system. CMP also
completed the installation of 620,000 smart meters - one of the largest
installs in the United States.
Annual General Meeting and Dividend
The Board of Directors has set its Annual General Meeting for Friday March 22.
The Board also declared a before tax dividend of approximately €0.3 per share.
Due to itsstrong performance and strengthened balance sheet, the Company will
propose a 2.4% share buyback, consisting of the amortization of 1.4% of
treasury stock and repurchase of another 1%.
About Iberdrola USA: Iberdrola USA, a subsidiary of global energy leader
Iberdrola, S.A., is the parent company of Central Maine Power, Maine Natural
Gas, NYSEG and RG&E which together deliver energy to 2.7 million customers
throughout upstate New York and New England. For more information about
Iberdrola USA, visit www.iberdrolausa.com.
SOURCE Iberdrola USA
Contact: Dan Hucko, +1-585-724-8825, Daniel.Hucko@IberdrolaUSA.com
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