Iberdrola, S.A. (IBDSF) Q2 2023 Earnings Call Transcript

Iberdrola, S.A. (OTCPK:IBDSF) Q2 2023 Earnings Conference Call July 27, 2023 3:30 AM ET

Company Participants

Ignacio Arambarri – Investor Relations

Ignacio Galan – Executive Chairman

Pepe Sainz – Chief Financial Officer

Armando Martinez – Chief Executive Officer

Gerardo Calatrava – General Secretary

Conference Call Participants

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 2023 First Half Results Presentation.

As usual, we will follow the traditional format given in our presentations. 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 Galan, Executive Chairman; Mr. Armando Martinez, 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 webpage www.iberdrola.com. Finally, being aware of the busy week of results you are having, we hope that today’s event will last no more than 60 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 Galan. Thank you very much again. Please Mr. Galan.

Ignacio Galan

Thank you, Ignacio, good morning everyone and thank you very much for joining the result presentation. In the first half of 2023, net profit reached EUR2,521 million, up 21% or 28%, excluding a non-cash provision related to Mexico transaction as Pepe will explain later on.

EBITDA grew 17% to EUR7,561 million, mainly driven by higher investment in Networks and Renewables. The recovery of the retail deficit

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *