Iberdrola recorded a net profit of 4,336.4 million euros in the first half of the year, which represents an increase of 21.7% compared to the same period of the previous year. This rebound is driven, above all, by the net capital gain of 953.3 million euros derived from the sale of its activity in Mexico to Cox, according to the company, which has reiterated its forecasts for 2026 of a growth of more than 8% in adjusted net profit.
If the figures are adjusted for the expected contribution from Mexico in 2026 (+74.8 million euros), for that net capital gain linked to the divestment in the country, and for the effect of "capital allowances" in the United Kingdom (181.8 million euros), the adjusted net profit stands at 3,564.9 million euros. This figure increases by 7.8% thanks to the increase in the asset base, the rise in rates in the Networks business, and the greater production and improvement of margins in the second quarter in the Renewables area.
The adjusted gross operating profit (Ebitda) rose to 8,050 million euros, 7.4% more, supported by solid performance between April and June. Without the effect of the exchange rate (-106.4 million euros), the adjusted Ebitda would have grown by 8.8%.
The group led by Ignacio Sánchez Galán increased its investments by 25%, to 7,000 million euros, allocating more than 70% of that amount to the United Kingdom, the United States, and Brazil.
The Networks area increased its investment by 42%, to nearly 4,400 million euros, which accounts for nearly two-thirds of the total. As a result, the regulated network assets (RAB) rose by 11%, to nearly 55,000 million, with significant advances in the United Kingdom (+11%), the U.S. (+12%), and Brazil (+18%).
Of that volume, 40,000 million corresponded to distribution (+6%) and 15,000 million to transportation, a segment that has experienced a growth of 30% in the last year.
For its part, investments in Generation exceeded 2,200 million euros, with more than 70% concentrated in onshore and offshore wind projects. In the semester, more than 1,600 megawatts (MW) were put into service. In addition, the electricity company expects the commissioning of another 2,100 MW before December and has a portfolio of mature projects to add up to 15,500 MW of capacity between 2025 and 2030, compared to the 9,500 MW contemplated in the 2025-2028 plan.
Reaffirms growth of more than 8% in its adjusted net profit
Likewise, Iberdrola has reaffirmed its outlook for 2026, with a forecast of growth exceeding 8% in adjusted net profit by the end of the year.
With these projections, the group sets a new historical maximum for adjusted net profit for 2026, above 6.7 billion euros for the entire fiscal year.
Looking ahead to the second half of the year, the energy company anticipates a greater volume of network assets (especially in transportation) with better rates, the commissioning of an additional 2,100 MW of generation by the end of the fiscal year, and process improvements linked to AI, along with an increase in operational efficiency.
((HABRÁ AMPLIACIÓN))