IBDSF - Iberdrola S.A. (IBDSF) Q1 2024 Earnings Call Transcript
2024-04-24 10:00:10 ET
Iberdrola, S.A. (IBDSF)
Q1 2024 Earnings Conference Call
April 24, 2024, 3:30 AM ET
Company Participants
Ignacio Arambarri - Director, Investor Relations
Ignacio Galán - Executive Chairman
Armando Martínez - Chief Executive Officer
Pepe Sainz - Chief Financial Officer
Conference Call Participants
Alberto Gandolfi - Goldman Sachs
Fernando García - Royal Bank of Canada
Rob Pulleyn - Morgan Stanley
Jorge Alonso - Bernstein
Gonzalo Sánchez-Bordona - UBS
Manuel Palomo - Exane BNP
Pedro Alves - CaixaBank
Peter Bisztyga - Bank of America
José Javier Ruiz - Barclays
Javier Garrido - JPMorgan
Michael Charlton - Santander
Jorge Guimarães - JB Capital Markets
Javier Suárez - MedioBanca
Marc Ip Tat Kuen - Berenberg
Presentation
Ignacio 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 First Quarter Results Presentations. 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 session. 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, we expect that today’s event to last no more than 50 minutes. 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, Ignacio. Good morning, everyone, and thank you very much for joining today’s conference call. In the first three months of 2024, our strong operating performance has led to a reported profit of €2,760 million, with a recurring profit of 20% compared to the first quarter of 2023.
As you can see, reported results in the first quarter are affected by extraordinary ratings both in 2024 and 2023. In 2024, we have included the capital gain from the €5,437 million transaction with Mexican infrastructure partners, which has completed in the last days of February, with a positive impact of €1.7 billion at EBITDA and €1.2 billion at net profit level....
Iberdrola, S.A. (IBDSF) Q1 2024 Earnings Call Transcript