Feb. 14, 2013
- Group revenues rose 8.1%
- Debt was reduced by nearly €1.4 billion
- Operating cash flow rose 2.5%
- Liquidity passes €12 billion – enough to meet needs for more than three years
- Board maintains dividend of €0.3 per share
Here are some highlights from global energy leader Iberdrola (IBDRY:US) 2012 financial results reported today in
. You may view the original Iberdrola S.A. news release here:
- 2012 Group revenues rose 8.1% to €34.2 billion, while gross margin increased 4.6% to €12.6 billion and operating cash flow rose 2.5% to €6.2 billion.
- EBITDA increased 1% to €7.73 billion.
- Net earnings rose 1.3% to €2.84 billion, driven by a 35% earnings growth in international business.
- Worldwide installed renewable generation capacity increased 2.5% to more than 14,000 megawatts.
Iberdrola continued to strengthen its balance sheet by selling €850 million (of the €2 billion planned) of non-strategic assets, limiting capital investments to €3.26 billion and reducing debt by €1.4 billion to €30.3 billion.
US networks business distributed 31,573 gigawatt hours of electricity to customers in
- a rise of 1.2% from 2011. US networks EBITDA rose 20.5% to €660.2 million, helped by higher revenues and favourable exchange rates.
Operations highlights for the year include Central Maine Power (CMP) reaching the half-way point in construction of the Maine Power Reliability Program, a
upgrade to the New England transmission system. CMP also completed the installation of 620,000 smart meters - one of the largest installs in
the United States
Annual General Meeting and Dividend
The Board of Directors has set its Annual General Meeting for
Friday March 22
. The Board also declared a before tax dividend of approximately €0.3 per share.
Due to its strong performance and strengthened balance sheet, the Company will propose a 2.4% share buyback, consisting of the amortization of 1.4% of treasury stock and repurchase of another 1%.