Iberdrola S.A. reported a 27% decrease in net profit for the first quarter of 2025, reaching €2bn ($2.14bn), compared to €2.76bn ($2.95bn) for the same period in 2024. The decline is attributed to an exceptionally high comparison base, resulting from the sale of 13 power plants to the Mexican government, completed in February 2024.
Operational results showing growth
Excluding this one-off transaction, which generated a net gain of €1.16bn ($1.24bn), Iberdrola stated that profit would have risen by 26% year-on-year. The group’s consolidated revenue reached €12.86bn ($13.73bn), a 1.5% increase over the year, but below analysts’ expectations of €14.08bn ($15.03bn), according to data from Factset.
The group, chaired by Ignacio Sánchez Galán, highlighted the strength of its commercial performance, particularly in the renewable energy sector. It invested €2.72bn ($2.91bn) during the quarter, with nearly two-thirds allocated to the United States and the United Kingdom, which are defined as strategic markets in its €41bn ($43.78bn) investment plan for 2024–2026.
Outlook and sector context
Iberdrola expects a moderate increase in both revenue and net profit for the 2025 fiscal year, amid continued volatility in electricity prices across its main markets. In 2024, the group reported a record profit of €5.61bn ($5.99bn).
The publication of these results comes two days after a major power outage affected the Iberian Peninsula. Iberdrola, along with other energy companies, undertook extensive operations to restore electricity supply. The company notes that it operates a broad portfolio in Spain, including renewable infrastructure as well as nuclear and hydroelectric plants.
