Iberdrola published its 2016 key figures. The utility managed to increase its net profit by 11.7% (€2.71bn) and remains the largest producer of wind energy in the world.
Overall revenues fell by 7% down to €29.22bn and the gross margin improved by 1% (€12.92bn). Iinvestments were also 32.3% higher and stood at €4,264.3m. The results were particularly strong in the United States where the network business revenues increased by 53% (€3.98bn).
The net production increased by 2.2% from 134 GWh up to 137 GWh, thanks to significant increases in hydropower generation (+46%), nuclear generation (+5.4%) and CCGT generation (+4.8%). The closure of the Longannet coal-fired power plant contributed to a 2.3 GW decrease in coal-fired capacity that was partly offset by a 469 MW increase in renewable capacity; overall, installed capacity declined by 2.4% to 45.2 GW. The group distributed 230 TWh of electricity in 2016 (+2.3%) to more than 30 million supply points. Iberdrola also supplied 111 TWh of gas (+26%).
In Spain, Iberdrola's capacity remained stable at 26.2 GW but power generation rose by 13% to 62.8 TWh (+48% for hydropower and +62% for CCGT generation). The group distributed 92 TWh of electricity (-0.4%) and supplied 18 TWh of gas (+24.5%, thanks to a 52% increase in gas supplies to the power sector).
The company's performance was affected by the currency change, in particular with the Brazilian real and the pound sterling and this effect has not bee completely offset by the US dollar change.
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