Iberdrola reports a positive Q4

• 13 years ago (2011-02-24)
• Junior Isles

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Spain's Iberdrola SA has reported that its fourth-quarter net profit rose 0.8 per cent on higher power generation in Spain and bigger profits from the power utility's international operations.

Iberdrola's fourth-quarter net profit rose to €801.3 million, up from €795.3 million a year earlier. That was reportedly below analyst expectations of €975 million, according to a Factset survey.

The company's earnings before interest, tax, depreciation and amortization, or Ebitda, rose to €1.97 billion from €1.86 billion in 2009.

Profits were helped by growth in generation and supply in Spain, where nuclear, hydro and wind production all rose. The company also profited from rising demand in Latin America.

Iberdrola's net revenue rose to €7.45 billion in the fourth quarter from €6.11 billion a year earlier.

Iberdrola shares were trading down 0.5 per cent or €0.03, at €6.15 after the news. Stock markets around the globe have continued to drop amid political unrest in North African oil producer Libya. Iberdrola stock is up 12 per cent over the past year.