Iberdrola H1 profit jumps 22% to €4.34B on grid investment push

Iberdrola reported H1 net profit of €4.34 billion, up 22%, as grid investments in Britain, the US and Brazil drove earnings.

"The results reflect our focus on regulated network assets in markets with strong demand growth," the Spanish utility said in a statement Wednesday.

Adjusted earnings before interest, tax, depreciation and amortisation rose 7% to €8.05 billion, while adjusted net profit increased 8%. First-half investments climbed 25% to €7 billion, with network spending accounting for nearly two-thirds of the total at €4.4 billion — up 42% year-on-year. Generation investments exceeded €2.2 billion, with more than 70% directed at onshore and offshore wind. The utility installed over 1.6 GW of capacity during the period.

The company reaffirmed its full-year outlook for adjusted net profit growth comfortably above 8%. Liquidity stood at €21.5 billion, covering 22 months of financing needs. The dividend per share was €0.685, with €0.427 payable July 27.

Iberdrola also announced the acquisition of Caruna, Finland's largest electricity distribution company serving more than 20% of the Nordic country's population, in a deal valued at €5 billion. More than 70% of total investment during the half was concentrated in Britain, the US and Brazil, underscoring the company's strategy of targeting jurisdictions with predictable regulatory frameworks and rising electricity demand from data centers and electrification.

The results signal that Iberdrola's pivot toward regulated grid assets in stable markets is delivering consistent earnings growth. Investors will watch for further European distribution network acquisitions following the Caruna deal and for updates on data center-related demand in its core markets.

This article is for informational purposes only and does not constitute investment advice.