Lifts FY guidance (Il Sole 24 Ore Radiocor) - Madrid, 24 Jul - The Spanish power generator Iberdrola said that in the first half of 2024 net profit surged to 4.13 billion euros from 2.52 billion and EBITDA grew to 9.61 billion from 7.56 billion.

The company's results were lifted by the disposal of Mexican assets in the first quarter, which contributed 1.72 billion at the EBITDA and 1.17 billion at the net profit level.

Recurring EBITDA increased 9% to 7.9 billion euros in the first half of the year.

Iberdrola raised its full-year guidance and now expects net profit to rise by a double-digit rate, excluding capital gains from asset rotation.

"We are making good progress on delivering against the targets in our business plan to 2026. On top of this, we also expect further medium-to-long-term growth opportunities to crystallize in the second half of the year, in our networks and storage business areas, as well as new opportunities to support the expansion of data centres,' said Ignacio Galan, the executive chairman.

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(RADIOCOR) 24-07-24 11:58:33 (0382) 5 NNNN