IBDSF - Iberdrola, S.A. (IBDSF) 2024 Fiscal Year Results Earnings Call Transcript
2025-02-27 17:47:02 ET
Iberdrola, S.A. (IBDSF)
2024 Fiscal Year Results Earnings Conference Call
February 27, 2025 3:30 AM ET
Company Participants
Ignacio Cuenca Arambarri – Finance, Control and Corporate Development, Investor Relations
Ignacio Galán – Executive Chairman
Pepe Sainz – Chief Financial Officer
Armando Martínez – Chief Executive Officer
Conference Call Participants
Presentation
Ignacio Cuenca Arambarri
[Foreign Language] Good morning, ladies and gentlemen. First of all, we would like to offer a warm welcome to all of you who have joined us today for our 2024 Fiscal Year Results Presentation. As usual, we will follow the traditional format given in our events. We are going to begin with an overview of the results and the main developments during the period given by the top executive team that usually is with us. Mr. Ignacio Galán, Executive Chairman; Mr. Armando Martínez, CEO; and finally, Mr. Pepe Sainz, CFO. Following this, we’ll move on to the Q&A.
I would also like to highlight that we are only going to take questions submitted via the web. So please ask your question only through our web page, www.iberdrola.com. Finally, as today is a very busy day for all of you, given the many companies reporting results, this morning we expect that our event will not last more than 60 to 70 minutes. If any questions remain unanswered, we, at IR are, as always, fully to your disposal. Hoping that this presentation will be useful and informative for all of you.
Now without further ado, I would like to give the floor to Mr. Ignacio Galán. Thank you very much again. Please, Mr. Galán.
Ignacio Galán
Thank you very much, Ignacio, and good morning, everyone, and thank you everyone for joining us today. We are today presenting the result of an extraordinary year driven by our ordinary operations with a strong performance across all our business and geographies, but also due to the extraordinary factors in 2024 we took a huge step in the execution of our strategy using the proceeds from the divestment of thermal generation to accelerate with these resources, growth in networks in the UK with the Electricity North West transaction, in the U.S. where we acquired Avangrid minorities.
In addition, as a result of our customer prudent accounting practices, we made €1.1 billion of non-cash adjustment and efficiency measures which offset the capital gains from the investment made and will enhance our future earnings. As a result, our reported net profit reached €5,612 million, up 17%. Reported EBITDA also increased by 17%, up to €16,848 million driven by a new record in investment up to €17 billion of this total €12 billion were organic investment. And €5 billion were the result of the two corporate transactions already mentioned in U.S. and UK....
Iberdrola, S.A. (IBDSF) 2024 Fiscal Year Results Earnings Call Transcript