Iberdrola profit rose 10% to €5.8bn ($6.5bn) in the first nine months of 2026, the Spanish utility said. Above all, growth in its electricity networks drove the result. As a result, Iberdrola raised its 2026 outlook to at least 10% growth in adjusted net profit.
What drove the growth
Adjusted EBITDA rose 7% to €11.9bn ($13.4bn), with networks up 15%. In addition, adjusted net profit rose 9% to €5.1bn. Excluding currency effects, it was up 13%.
Meanwhile, investment rose 13% to €10.1bn ($11.3bn), and almost 75% went to the UK, the US and Brazil. Of that, networks took €6.3bn ($7.1bn), up 28%. Consequently, the regulated asset base hit a record €56bn. Power investments also added 3,300 MW of capacity over the year.
Iberdrola profit outlook and dividend
Iberdrola now targets 10% average annual growth in adjusted profit over the next five years. Furthermore, it expects its asset base to top €90bn by 2030. It also plans 15 GW of new capacity from 2025 to 2030. It will give more detail at a capital markets day in March 2027.
Shareholders get an interim payout of €0.275 ($0.31) a share, up 8.7%. Meanwhile, net debt stands at 3.4x adjusted EBITDA.
Executive chairman Ignacio Galán said strong demand is speeding up grid building “across all our geographies”.
High European gas prices are part of that backdrop. See our report on TTF’s four-year high.
