Results presentation\n <\/p>\n
\n
First quarter\n <\/p>\n
\n
29 April 2026\n <\/p>\n
\n
Legal Notice\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n FORWARD-LOOKING STATEMENTS\n <\/p>\n
\n
This communication contains forward-looking information and statements about Iberdrola, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates” and similar expressions.\n <\/p>\n
\n
Although Iberdrola, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Iberdrola, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Iberdrola, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Iberdrola, S.A. to the Spanish Comisi\u00f3n Nacional del Mercado de Valores, which are accessible to the public.\n <\/p>\n
\n
Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of Iberdrola, S.A. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Iberdrola, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Iberdrola, S.A. on the date hereof. Except as required by applicable law, Iberdrola, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.\n <\/p>\n
\n
Iberdrola, S.A. commits to carrying out its best efforts to achieve its ambition of carbon neutrality for its Scope 1 and 2 in 2030. For these purposes, it will align its strategy, investments, operations and public positioning with this ambition. Additionally, Iberdrola, S.A. is also committed to undertake the energy transition in a way that creates value for its shareholders, employees, clients, suppliers and the communities where it operates. Accordingly, Iberdrola, S.A. reserves the capacity to adapt its planning to successfully face its performance in key material aspects such as the value of Iberdrola, S.A., the quality of supply or the social, labor, and fair transition conditions. The abovementioned commitments are of aspirational nature.\n <\/p>\n
\n
ALTERNATIVE PERFORMANCE MEASURES\n <\/p>\n
\n
In addition to the financial information prepared under IFRS, this presentation includes certain alternative performance measures (“APMs”) for the purposes of Commission Delegated Regulation (EU) 2019\/979, of March 14, 2019, and as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 5 October 2015 (ESMA\/2015\/1415es). The APMs are performance measures that have been calculated using the financial information from Iberdrola, S.A. and the companies within its group, but that are not defined or detailed in the applicable financial information framework. These APMs are being used to allow for a better understanding of the financial performance of Iberdrola, S.A., but should be considered only as additional information and in no case as a substitute of the financial information prepared under IFRS. Moreover, the way Iberdrola, S.A. defines and calculates these APMs may differ from the way these are calculated by other companies that use similar measures, and therefore they may not be comparable. Finally, please consider that certain of the APMs used in this presentation have not been audited. Please refer to this presentation and to the corporate website (www.iberdrola.com) for further details of these matters, including their definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS. In particular, please refer to https:\/\/www.iberdrola.com\/documents\/20125\/5846486\/alternative-performance-measures-26Q1.pdf<\/p>\n
\n https:\/\/www.iberdrola.com |3\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Highlights of the period<\/p>\n
https:\/\/www.iberdrola.com |4\n <\/p>\n
\n
Highlights of the period\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Adjusted Net Profit up +11% to Eur 1,865 M<\/p>\n
driven by our business model based on regulated businesses in A-rated countries\u2026<\/p>\n
Adjusted EBITDA of Eur 4.1 Bn, with Networks as key driver<\/p>\n
\n \u25b7 Networks Adjusted EBITDA of Eur 2,048 M, up +9%\n <\/p>\n
\u25b7 Power and Customers Adjusted EBITDA of Eur 2,022 M, down -3% affected by non-recurrent impacts in Iberia & US\n <\/p>\n
Investments reach Eur 2.7 Bn with >50% in the UK & US: securing medium and long-term growth<\/p>\n
\n \u25b7 Networks investments of Eur 1.5 Bn: RAB close to Eur 53 Bn\n <\/p>\n
\u25b7 New generation capacity already driving higher production: offshore wind +42% vs. Q1 2025<\/p>\n
\n \u25b7 Mexico asset rotation transaction completed\n <\/p>\n
\u25b7 Brazil: Purchase of Neoenergia’s minorities completed with additional visibility due to concession renewal +30 years\n <\/p>\n
Asset rotation & partnerships: Optimizing business profile and securing funds for core investments<\/p>\n
\n \u25b7 Pro-forma Adj. Net Debt (post Mexico and Neoenergia transactions) at Eur 50.3 Bn, with FFO\/Adj. Net Debt at 24.8%\n <\/p>\n
\u25b7 Operational efficiency: Assigning capital gains from asset rotation + process transformation driven by AI\n <\/p>\n
Improving financial strength and operational efficiency<\/p>\n
\n Iberdrola’s business model in the current context\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\u2026that provides stability and growth in any scenario<\/p>\n
including the current or any future crises linked to fossil fuels<\/p>\n
\n
Short term:\n <\/p>\n
\n
No significant financial impact expected\n <\/p>\n
\n
\u25b7 Minimal exposure to commodities (pass-through)\n <\/p>\n
\n
\u25b7 85% assets in A-Rated countries not exposed to the conflict<\/p>\n
\n \u25b7 Inflation: High CPI protection in Networks, and pass-through of potential energy costs in Power<\/p>\n
\n \u25b7 FX risks fully covered for 2026 net profit estimate<\/p>\n
\n \u25b7 73% of Debt at fixed rates1 and average debt maturity of 6 years with Liquidity of EUR 21.4 Bn<\/p>\n
\n \u25b7 Secured Supply chains with a local approach: 93% of strategic equipment in our Plan secured\n <\/p>\n
\n
Medium\/long term:\n <\/p>\n
\n
Regulated Profile focus on A-rated countries\n <\/p>\n
\n
\u25b7 Growth based on regulated Electricity Networks and indigenous Renewables<\/p>\n
\n \u25b7 Structurally, 85% of expected production already secured through CfDs, PPAs, and Retail:<\/p>\n
\n
\u25b7 Strategic Plan with ~75% of regulated and LT contracted EBITDA by 2028-30<\/p>\n
\n \u25b7 >70% of Network investments in 2025-28 focused on the US and the UK<\/p>\n
Global consensus: Electrification = Energy security, strategic autonomy and competitiveness<\/p>\n
The EU Commission sustains that accelerating electrification using homegrown sources (renewables and nuclear) is the most effective strategy for Europe<\/p>\n
\n Business highlights\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Networks remain at the core of our business, driving stable and predictable earnings, with strong growth momentum in Power & Customers<\/p>\n
\n
Networks\n <\/p>\n
\n
Power & Customers\n <\/p>\n
UK. RIIO-T3 final determination sets a total allowance of c. Eur 14 Bn (+7% vs draft)<\/p>\n
\n US. Improved networks performance rate increases in NY and Connecticut Full Commissioning of NECEC in jan-26<\/p>\n
\n 1.9 million smart meters in NY reached<\/p>\n
\n Brazil. All concession renewals already published in the Union’s Official Bulletin\n <\/p>\n
US. Higher electricity demand\n <\/p>\n
Spain. Hydroelectric reserves at record levels UK. Strong increase in wind production (+41%) Brazil. Higher electricity demand\n <\/p>\n
IEI. Higher offshore wind production (+37% vs Q1’25)<\/p>\n
\n Adjusted EBITDA\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Adjusted EBITDA reaches Eur 4.1 Bn driven by Networks operating performance\u2026<\/p>\n
\n
EBITDA by geography Q1 ’26\n <\/p>\n
\n Networks\n <\/p>\n
\n
(+9% )\n <\/p>\n
\n
RAB up 8% with higher rates\n <\/p>\n
\n
Strong growth in the UK driven by increasing investments and full ENW consolidation\n <\/p>\n
\n
Positive performance in all other geographies<\/p>\n
\n Power &\n <\/p>\n
\n
Customers\n <\/p>\n
\n
(-3% )\n <\/p>\n
\n
Strong production in the UK (+41%) and<\/p>\n
\n continental EU (+32%)<\/p>\n
\n Non-recurrent regulatory and ancillary costs in<\/p>\n
\n Iberia\n <\/p>\n
\n
US growth affected by positive non-recurrent impacts in Q1 ’25\n <\/p>\n
\n
Iberia\n <\/p>\n
\n
4.1\n <\/p>\n
\n
Eur Bn\n <\/p>\n
\n
Other EU &\n <\/p>\n
\n
Australia Brazil<\/p>\n
\n UK\n <\/p>\n
\n
84%\n <\/p>\n
\n
in A-rated<\/p>\n
\n countries\n <\/p>\n
\n
US\n <\/p>\n
\u202684% of EBITDA from A-rated countries<\/p>\n
\n
Investments\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Investments reach Eur 2.7 Bn in Q1, with more than 50% in the UK and the US\u2026<\/p>\n
\n Q1 ’26 Investments by geography1<\/p>\n
\n Q1 ’26 Investments by business\n <\/p>\n
\n Other EU & Australia\n <\/p>\n
\n
15%\n <\/p>\n
\n
Iberia\n <\/p>\n
\n
19%\n <\/p>\n
\n
398\n <\/p>\n
\n
507\n <\/p>\n
\n
2,705\n <\/p>\n
\n
Eur M\n <\/p>\n
\n
in line with Q1 ’25\n <\/p>\n
\n
912\n <\/p>\n
\n
UK\n <\/p>\n
\n
34%\n <\/p>\n
\n
Networks\n <\/p>\n
\n
Eur 1,460 M\n <\/p>\n
\n
Corporate\n <\/p>\n
\n
54%\n <\/p>\n
\n
2,705\n <\/p>\n
\n
Eur M\n <\/p>\n
\n
in line with Q1 ’25\n <\/p>\n
\n
Brazil\n <\/p>\n
\n
11%\n <\/p>\n
\n
309\n <\/p>\n
\n
548\n <\/p>\n
\n
US\n <\/p>\n
\n
20%\n <\/p>\n
\n
& Other\n <\/p>\n
\n
44%\n <\/p>\n
\n
Power & Customers Eur 1,187 M<\/p>\n
\u2026and Eur 14.5 Bn in the last 12 months, almost 2\/3 in Networks<\/p>\n
\n
Growth in Networks: Investments\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
RAB increases +8% to Eur 53 Bn driven by double-digit growth in the UK<\/p>\n
\n Q1 ’26 Networks Organic Investments (Eur M)<\/p>\n
\n
Brazil 20%<\/p>\n
\n Spain 9%<\/p>\n
\n +24% vs Q1’25\n <\/p>\n
\n
D T<\/p>\n
\n D\n <\/p>\n
\n
~49 Bn\n <\/p>\n
\n
~53 Bn\n <\/p>\n
T<\/p>\n
\n 27%\n <\/p>\n
D<\/p>\n
73%<\/p>\n
\n
UK\n <\/p>\n
\n
(+10%)\n <\/p>\n
\n
-16% vs Q1’25\n <\/p>\n
\n
T\n <\/p>\n
\n
D\n <\/p>\n
\n
US 26%<\/p>\n
\n 1,460\n <\/p>\n
\n
Eur M D<\/p>\n
\n T\n <\/p>\n
\n
UK 46%<\/p>\n
\n +51% vs Q1’25\n <\/p>\n
\n
+8%\n <\/p>\n
\n
US\n <\/p>\n
\n
32%\n <\/p>\n
\n
28%\n <\/p>\n
\n
22%\n <\/p>\n
\n
18%\n <\/p>\n
\n
(+8%)\n <\/p>\n
\n
Brazil\n <\/p>\n
\n
(+13%)\n <\/p>\n
\n
-31% vs Q1’25\n <\/p>\n
\n
1\/3 allocated to Transmission\n <\/p>\n
\n
Q1 2025\n <\/p>\n
Transmission RAB up 29% to Eur 14.2 Bn<\/p>\n
\n
Spain\n <\/p>\n
\n
(+1%)\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Growth in Renewable Power: Selective investment\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
More than Eur 1 Bn of investments in Renewable with ~75% in wind\u2026<\/p>\n
\n Q1 ’26 Renewable Power investments by technology\n <\/p>\n
\n
Renewable capacity additions (Last 12m)\n <\/p>\n
\n Onshore wind\n <\/p>\n
\n
Eur 494 M\n <\/p>\n
\n
40% in US and UK\n <\/p>\n
~75% in<\/p>\n
wind<\/p>\n
\n
1,070\n <\/p>\n
\n
Eur M\n <\/p>\n
\n 572\n <\/p>\n
\n
Storage & Others\n <\/p>\n
\n
Offshore wind\n <\/p>\n
\n
Eur 299 M\n <\/p>\n
\n Solar PV\n <\/p>\n
\n
Eur 162 M\n <\/p>\n
\n
1.2 GW\n <\/p>\n
\n
0.7 GW\n <\/p>\n
\n
1 GW\n <\/p>\n
\n
0.4 GW\n <\/p>\n
\n
Eur 115 M\n <\/p>\n
\n
Onshore Wind Offshore Wind Solar PV Storage\n <\/p>\n
\u2026adding 3.3 new GWs in the last 12 months<\/p>\n
Pro-forma<\/p>\n
\n Adj. Net Debt<\/p>\n
\n Eur 50.3 Bn<\/p>\n
\n Post-Mexico & Neoenergia\n <\/p>\n
\n
transactions\n <\/p>\n
\n Pro-forma FFO\/Adjusted Net Debt (Last 12m)<\/p>\n
\n
Financial Strength\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Pro-forma Adj. Net Debt at Eur 50.3 Bn\u2026<\/p>\n
+360 bps<\/p>\n
24.8%<\/p>\n
Liquidity<\/p>\n
\n Eur 21.4 Bn<\/p>\n
\n covering 23 months of financing needs\n <\/p>\n
21.2%<\/p>\n
\n Q1’25 Q1’26<\/p>\n
\u2026improving ratios fully consistent with “BBB+” rating<\/p>\n
\n
Artificial Intelligence\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Already transforming our processes to fully integrate AI at scale<\/p>\n
as an additional driver of Iberdrola\u00b4s growth, efficiency and competitiveness<\/p>\n
Process transformation<\/p>\n
\n
End-to-end redesign of business processes\n <\/p>\n
\n
AI embedded across Power, Networks and Retail, Group scale<\/p>\n
Value driven<\/p>\n
\n
Industrial-scale, value-oriented AI: growth, productivity efficiency, quality and resilience<\/p>\n
\n >300 projects<\/p>\n
\n Currently on execution\n <\/p>\n
Responsible and trusted AI\n <\/p>\n
\n
First energy group with an AI system certified (ISO 42001)<\/p>\n
\n UNESCO IRCAI recognition: one of the Top 100 global sustainability<\/p>\n
\n AI projects1<\/p>\n
\n In-house effort\n <\/p>\n
\n
Iberdrola’s internal resources and talent as main drivers of transformation<\/p>\n
\n Project Gencast included in the Global AI & SDG Index as World’s Top100 AI Projects for sustainability<\/p>\n
Anticipation<\/p>\n
\n
Strategic partnership with leading players and dedicated AI product innovation hub\n <\/p>\n
\n
Active physical AI and robotics portfolio<\/p>\n
Detailed financial impact assessment underway<\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Analysis of results<\/p>\n
https:\/\/www.iberdrola.com<\/p>\n
\n |14<\/p>\n
\n Adjusted Income Statement \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Adjusted EBITDA up 2% to Eur 4,067 M while Adjusted Net Profit grows 11% to Eur 1,865 M<\/p>\n
\n Eur M\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
adjusted1<\/p>\n
\n Q1 2025\n <\/p>\n
\n
adjusted1<\/p>\n
\n %\n <\/p>\n
\n
Revenues\n <\/p>\n
\n
12,018\n <\/p>\n
\n
12,053\n <\/p>\n
\n
-0.3\n <\/p>\n
\n
Gross Margin\n <\/p>\n
\n
6,429\n <\/p>\n
\n
6,492\n <\/p>\n
\n
-1.0\n <\/p>\n
\n
Net Operating Expenses\n <\/p>\n
\n
-1,348\n <\/p>\n
\n
-1,431\n <\/p>\n
\n
-5.8\n <\/p>\n
\n
Levies\n <\/p>\n
\n
-1,014\n <\/p>\n
\n
-1,087\n <\/p>\n
\n
-6.8\n <\/p>\n
\n
EBITDA\n <\/p>\n
\n
4,067\n <\/p>\n
\n
3,974\n <\/p>\n
\n
+2.4\n <\/p>\n
\n
EBIT\n <\/p>\n
\n
2,591\n <\/p>\n
\n
2,616\n <\/p>\n
\n
-0.9\n <\/p>\n
\n
Net Financial Expenses\n <\/p>\n
\n
-497\n <\/p>\n
\n
-503\n <\/p>\n
\n
-1.3\n <\/p>\n
\n
Equity Results and Mexico Discontinued Business2<\/p>\n
\n 81\n <\/p>\n
\n
113\n <\/p>\n
\n
-28.3\n <\/p>\n
\n
Taxes3<\/p>\n
\n -335\n <\/p>\n
\n
-484\n <\/p>\n
\n
-30.8\n <\/p>\n
\n
Capital allowances in UK\n <\/p>\n
\n
88\n <\/p>\n
\n
59\n <\/p>\n
\n
+48.0\n <\/p>\n
\n
Minorities\n <\/p>\n
\n
-64\n <\/p>\n
\n
-127\n <\/p>\n
\n
-49.6\n <\/p>\n
\n
Adjusted Net Profit\n <\/p>\n
\n
1,865\n <\/p>\n
\n
1,674\n <\/p>\n
\n
+11.4\n <\/p>\n
Excluding FX impact4, Adjusted EBITDA would have grown 6% while Adjusted Net Profit 17%<\/p>\n
\n
See next page and Annex on page 36 and 37\n <\/p>\n
\n
Equity Results includes Discontinued Operations\n <\/p>\n
\n
Taxes affected by a provision reversal\n <\/p>\n
\n
FX negative impact is Eur 142 M in Adjusted EBITDA and Eur 99 M in Adjusted Net Profit\n <\/p>\n
https:\/\/www.iberdrola.com<\/p>\n
\n |15<\/p>\n
\n Adjusted Income Statement \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
For transparency purposes, adjustments and accounting criteria are shown below<\/p>\n
\n
Mexico contribution<\/p>\n
\n According to IFRS 5, Mexico business is registered as Discontinued Operations and presented under Equity in Adjusted Net Profit\n <\/p>\n
\n
We exclude capital gain negative adjustment to the year 2024 divestment of our\n <\/p>\n
\n
thermal assets in Mexico to our Mexican buyers (MIP)\n <\/p>\n
\n
UK Capital<\/p>\n
allowances<\/p>\n
\n
US past cost recognition<\/p>\n
For further detail, please see annex in page 36 and 37\n <\/p>\n
https:\/\/www.iberdrola.com<\/p>\n
\n |16<\/p>\n
\n Adjusted Gross Margin \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Adjusted Gross Margin reaches Eur 6,429 M, down 1% Excluding FX impact, Adjusted Gross Margin up 3%<\/p>\n
\n
Adjusted Revenues (Eur M)\n <\/p>\n
\n
12,053.4\n <\/p>\n
\n
-0.3%1<\/p>\n
\n 12,017.6\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Procurements (Eur M)\n <\/p>\n
\n
5,560.9\n <\/p>\n
\n
0.5%2<\/p>\n
\n 5,588.2\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Q1 2026\n <\/p>\n
Excluding FX impact, Revenues and Procurements up 3% and 4%, respectively<\/p>\n
\n
Detracting US recovery of past costs and Mexico contribution\n <\/p>\n
\n
Detracting Mexico contribution\n <\/p>\n
https:\/\/www.iberdrola.com<\/p>\n
\n |17<\/p>\n
\n Net Operating Expenses \/ Group\n <\/p>\n
Net Operating Expenses are 6% better<\/p>\n
Excluding FX impact, Net Operating Expenses improve 0.7%<\/p>\n
\n Q1 2026\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
%\n <\/p>\n
\n
-752.4\n <\/p>\n
\n
-758.4\n <\/p>\n
\n
-0.8%\n <\/p>\n
\n
-894.2\n <\/p>\n
\n
-912,8\n <\/p>\n
\n
-2.0%\n <\/p>\n
\n
298.1\n <\/p>\n
\n
239.7\n <\/p>\n
\n
+24.4%\n <\/p>\n
\n
-1,348.4\n <\/p>\n
\n
-1,431.5\n <\/p>\n
\n
-5.8%\n <\/p>\n
\n Net Operating Expenses (Eur M)\n <\/p>\n
\n
Net Personnel Expenses External Services\n <\/p>\n
\n
Other Operating Income\n <\/p>\n
\n
Total Net Operating Expenses\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
On a recurring basis, and excluding FX impact, Net Operating Expenses increase 8.1%<\/p>\n
\n
Results by Business \/ Networks\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Networks adjusted EBITDA up 9% to EUR 2,048 M Excluding FX impact (Eur -94 M), Networks Adjusted EBITDA up 14%…<\/p>\n
\n
Eur M\n <\/p>\n
\n
21%\n <\/p>\n
\n
Spain\n <\/p>\n
\n
Brazil\n <\/p>\n
\n
29%\n <\/p>\n
\n
2,047.5\n <\/p>\n
\n
United States\n <\/p>\n
\n
25%\n <\/p>\n
\n
25%\n <\/p>\n
\n
United Kingdom\n <\/p>\n
\u2026 driven by strong performance in UK and US<\/p>\n
\n
Results by Business \/ Networks\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n UNITED STATES<\/p>\n
Adj. EBITDA IFRS USD 611.8 M (+21.5%; -42.0% in reported terms):<\/p>\n
\n Higher rates in Distribution<\/p>\n
\n Better contribution from Transmission, including positive contribution from NECEC (COD on the 16th of January)<\/p>\n
\n Reported figures affected by past cost recognition accounted in Q1 2025 (USD 550 M)<\/p>\n
UNITED<\/p>\n
\n KINGDOM<\/p>\n
EBITDA GBP 446.9 M (+32.0%):<\/p>\n
BRAZIL<\/p>\n
EBITDA BRL 3,657.3 M (-0.7%):<\/p>\n
SPAIN<\/p>\n
EBITDA EUR 425.7 M (+6.2%):<\/p>\n
\n
Results by Business \/ Power and Customers\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Power and Customers EBITDA decrease 3% to EUR 2,022 M<\/p>\n
\n
Eur M\n <\/p>\n
\n
RoW 10%<\/p>\n
\n Brazil 4%<\/p>\n
\n United States 8%<\/p>\n
\n 2,022.3\n <\/p>\n
\n
Iberia\n <\/p>\n
\n
49%\n <\/p>\n
\n
United\n <\/p>\n
\n
Kingdom\n <\/p>\n
\n
28%\n <\/p>\n
Excluding FX impact (Eur -47 M), EBITDA only down 1%<\/p>\n
33 TWh of electricity produced1, 86% locally sourced and emission-free<\/p>\n
\n
Results by Business \/ Power and Customers\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n IBERIA\n <\/p>\n
\n EBITDA EUR 1,002.0 M (-3.2%):<\/p>\n
\n Affected by ancillary costs, regulated gas rate and lower prices, despite higher electricity sales<\/p>\n
\n Record hydro reserves (9.0 TWh)<\/p>\n
\n
UNITED STATES\n <\/p>\n
\n EBITDA USD 195.7 M (-31.6%):<\/p>\n
\n Lower contribution from wind, thermal assets and negative timing effects that will normalize during the year,<\/p>\n
\n despite better prices<\/p>\n
\n
UNITED KINGDOM\n <\/p>\n
\n EBITDA GBP 493.0 M (+15.8%):<\/p>\n
\n Higher wind resource both onshore and offshore, more than compensate lower prices<\/p>\n
\n Better contribution from Supply division, driven by better margins<\/p>\n
\n
RoW (IEI)\n <\/p>\n
\n EBITDA EUR 211.6 M (-7.6%):<\/p>\n
\n Higher offshore production<\/p>\n
\n Lower contribution from onshore wind assets<\/p>\n
\n Negative impact from higher ancillary services in Portugal<\/p>\n
\n
BRAZIL\n <\/p>\n
\n EBITDA BRL 499.7 M (+96.9%):<\/p>\n
\n
Adjusted EBIT \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
D&A and provisions up 9% to EUR 1,476 M, driven by higher asset base and a normalization of provisions vs. exceptional recoveries in 2025<\/p>\n
\n
Adjusted EBIT (EUR M)\n <\/p>\n
2,615.6<\/p>\n
\n -1%\n <\/p>\n
2,591.4<\/p>\n
\n Q1 2025\n <\/p>\n
\n
adjusted\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
adjusted\n <\/p>\n
\n
D&A and Provisions (EUR M)\n <\/p>\n
+9%<\/p>\n
\n -1,358.0<\/p>\n
\n -92<\/p>\n
\n Provisions\n <\/p>\n
-1,475.7<\/p>\n
\n -152<\/p>\n
\n -1,266\n <\/p>\n
\n
D&A\n <\/p>\n
\n
-1,324\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Q1 2026\n <\/p>\n
Adjusted EBIT down 1% to EUR 2,591 M Excluding FX impact (EUR -80 M), up 2%<\/p>\n
\n
4.92%\n <\/p>\n
+10 bps<\/p>\n
\n 5.02%\n <\/p>\n
\n
Net Financial Result \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Net financial result improves thanks to lower average debt and favorable FX, mostly offset by higher cost of debt and worse derivatives result<\/p>\n
Net Financial Result (Eur M)<\/p>\n
\n Cost of Debt<\/p>\n
\n -503 +34<\/p>\n
\n -56\n <\/p>\n
\n
+28\n <\/p>\n
\n
-497\n <\/p>\n
\n
3.69%\n <\/p>\n
-10 bps<\/p>\n
\n (ex NEO)<\/p>\n
\n 3.59%\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Debt result\n <\/p>\n
\n
Derivatives Other<\/p>\n
\n Q1 2026\n <\/p>\n
\n
Q1 2025 Q1 2026<\/p>\n
Cost ex- NEO improves 10 bps due to lower interest rates<\/p>\n
Excluding NEO1, fixed debt2 amounts to 77%<\/p>\n
\n
1. Neoenergia debt not fixed, as P&L results are linked to IPCA\n <\/p>\n
https:\/\/www.iberdrola.com<\/p>\n
\n |24<\/p>\n
\n Adjusted Net Debt \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Net Debt increases Eur 1.7 Bn in the quarter,<\/p>\n
affected by dividend payment and currency appreciation\u2026<\/p>\n
\n
Consolidated Net Debt Evolution\n <\/p>\n
\n
Eur Bn\n <\/p>\n
\n
50.2\n <\/p>\n
\n
-3.3\n <\/p>\n
\n
Adjusted FFO\n <\/p>\n
\n
2.7\n <\/p>\n
\n
Capex\n <\/p>\n
\n
1.7\n <\/p>\n
\n
Dividend & T-Shares\n <\/p>\n
\n
1.1\n <\/p>\n
\n
FX & Derivatives\n <\/p>\n
\n
-0.5\n <\/p>\n
\n
Other\n <\/p>\n
\n
51.9\n <\/p>\n
\n
-1.6\n <\/p>\n
\n
Mexico sale and Neoenergia minorities1<\/p>\n
\n 50.3\n <\/p>\n
\n
FY 2025\n <\/p>\n
\n
Adjusted Net Debt\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Adjusted Net Debt\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Proforma Net Debt\n <\/p>\n
\n
1. Transactions closed in April 2026\n <\/p>\n
\n
Financial ratios \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\u2026 delivering solid credit ratios as adjusted FFO grows 7.0% to Eur 3,279 M Excluding FX, FFO up 12.1%<\/p>\n
\n
Adjusted Credit Metrics\n <\/p>\n
Q1 20261<\/p>\n
\n Proforma\n <\/p>\n
Q1 2026<\/p>\n
\n Q1 20253<\/p>\n
\n Adjusted Net Debt2\/ EBITDA\n <\/p>\n
3.3x<\/p>\n
\n 3.4x<\/p>\n
\n 3.7x<\/p>\n
\n Adjusted FFO \/ Adjusted Net Debt2 24.8%<\/p>\n
\n 24.0%<\/p>\n
\n 21.2%<\/p>\n
\n Adjusted Leverage\n <\/p>\n
43.6%<\/p>\n
\n 44.3%<\/p>\n
\n 47.3%<\/p>\n
\n Including collection of Mexico and payment for Neoenergia minorities, totaling Eur 1,637 M, closed in April 2026\n <\/p>\n
\n
Adjusted for treasury stock derivatives with physical settlement which at the current date are not expected to be executed (Eur 2,190 M as of 3M 2026 and Eur 944 M as of 2025)\n <\/p>\n
\n
Q1 2025 ratios restated for comparison purposes\n <\/p>\n
\n
Adjusted Net Profit \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Q1 2026 adjusted Net Profit up 11% to Eur 1,865 M<\/p>\n
Excluding FX impact (Eur -99 M), Adjusted Net Profit up 17%<\/p>\n
\n
Eur M\n <\/p>\n
\n
2,004.3\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Reported Net Profit\n <\/p>\n
\n
389.2\n <\/p>\n
\n
US past cost recognition\n <\/p>\n
\n
59.3\n <\/p>\n
\n
Capital allowances in UK\n <\/p>\n
\n
1,674.4 11%<\/p>\n
\n Q1 2025\n <\/p>\n
\n
Adjusted Net Profit\n <\/p>\n
\n
1,865.0\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Adjusted Net Profit\n <\/p>\n
\n
65.9\n <\/p>\n
\n
Mexico1<\/p>\n
\n 87.8\n <\/p>\n
\n
Capital allowances in UK\n <\/p>\n
\n
1,711.3\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Reported Net Profit\n <\/p>\n
Neoenergia lower minorities add Eur 57 M to the Net Profit<\/p>\n
\n
Capital gain negative adjustment to the divestment in 2024 of our thermal assets in Mexico, registered under Discontinued Operations in Reported Net Profit and excluded of\n <\/p>\n
\n
Results presentation\n <\/p>\n
Conclusions<\/p>\n
https:\/\/www.iberdrola.com |\n <\/p>\n
\n
Conclusions: 2026 Outlook\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Solid first quarter and strong performance expected for the rest of the year\u2026<\/p>\n
\n
RAB growing in all countries<\/p>\n
\n New rate cases (RIIO-T3 in UK, tariff adjustments\n <\/p>\n
in Brazil\u2026)\n <\/p>\n
\n
Brazil: 100% contribution from Neoenergia\n <\/p>\n
NETWORKS<\/p>\n
POWER & CUSTOMERS<\/p>\n
IMPROVING EFFICIENCY AND FINANCIAL PROFILE\n <\/p>\n
Pro-forma Adjusted Net Debt at Eur 50.3 Bn<\/p>\n
\n Improving ratios: Pro-forma FFO\/Adjusted Net Debt at 24.8%<\/p>\n
\n Higher efficiencies from asset rotation capital gains<\/p>\n
\n ONGOING RESILIENCY TO GEOPOLITICAL DYNAMICS\n <\/p>\n
\n
Conclusions: FY 2026 Adjusted Net Profit Guidance\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\u2026drives FY 2026 guidance upgrade to >8% growth in Adjusted Net Profit excluding capital gains from asset rotation<\/p>\n
Growth<\/p>\n
\n >8%<\/p>\n
\n New upgraded<\/p>\n
\n Adj. Net Profit Guidance<\/p>\n
\n (Eur M)\n <\/p>\n
>6,600<\/p>\n
\n
~6% Growth\n <\/p>\n
6,231<\/p>\n
\n
2025 Previous guidance\n <\/p>\n
\n
Reported Net Profit\n <\/p>\n
\n
– capital gains from asset rotation\n <\/p>\n
\n
+ UK capital allowance impact\n <\/p>\n
\n
= Adjusted Net Profit<\/p>\n
\n Conclusions: Mid to Long Term view\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Securing new opportunities to continue accelerating growth by 2028 and beyond<\/p>\n
ELECTRIFICATION ACCELERATING IN THE CURRENT CONTEXT<\/p>\n
United Kingdom<\/p>\n
\n Cont. Europe<\/p>\n
\n United States<\/p>\n
\n life extension, \u2026.)\n <\/p>\n
\n
Additional networks investments<\/p>\n
\n Offshore wind auctions (AR8\u2026) on top<\/p>\n
\n of projects under construction\n <\/p>\n
\n
Improving Retail Business Outlook:<\/p>\n
\n Brazil<\/p>\n
\n portfolio stabilization, new products\u2026\n <\/p>\n
\n
June 25, 26, 29 and\n <\/p>\n
\n
30 and July 1\n <\/p>\n
\n Commencement of the trading of the newly issued shares\n <\/p>\n
\n
Trading period and\n <\/p>\n
\n
common election period\n <\/p>\n
\n Other Relevant Information (ORI) on the number of rights\/share and interim DPS\n <\/p>\n
\n
Commencement of the trading period and of the common election period\n <\/p>\n
\n
Ex date (scrip and cash dividend)\n <\/p>\n
\n
Close of scrip issuance\n <\/p>\n
\n
Other Relevant Information publication (ORI)\n <\/p>\n
\n https:\/\/www.iberdrola.com<\/p>\n
\n ||33<\/p>\n
\n Results\n <\/p>\n
\n
Presentation 2025\n <\/p>\n
Annex II<\/p>\n
https:\/\/www.iberdrola.com |\n <\/p>\n
\n
Reported Income Statement \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n
Eur M\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
reported\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
reported\n <\/p>\n
\n
%\n <\/p>\n
\n
Revenues\n <\/p>\n
\n
12,018\n <\/p>\n
\n
12,583\n <\/p>\n
\n
-4.5\n <\/p>\n
\n
Gross Margin\n <\/p>\n
\n
6,429\n <\/p>\n
\n
7,022\n <\/p>\n
\n
-8.4\n <\/p>\n
\n
Net Operating Expenses\n <\/p>\n
\n
-1,348\n <\/p>\n
\n
-1,432\n <\/p>\n
\n
-5.9\n <\/p>\n
\n
Levies\n <\/p>\n
\n
-1,014\n <\/p>\n
\n
-1,087\n <\/p>\n
\n
-6.7\n <\/p>\n
\n
EBITDA\n <\/p>\n
\n
4,067\n <\/p>\n
\n
4,503\n <\/p>\n
\n
-9.7\n <\/p>\n
\n
EBIT\n <\/p>\n
\n
2,591\n <\/p>\n
\n
3,145\n <\/p>\n
\n
-17.6\n <\/p>\n
\n
Net Financial Expenses\n <\/p>\n
\n
-497\n <\/p>\n
\n
-503\n <\/p>\n
\n
-1.2\n <\/p>\n
\n
Equity Results\n <\/p>\n
\n
32\n <\/p>\n
\n
36\n <\/p>\n
\n
-11.1\n <\/p>\n
\n
Taxes\n <\/p>\n
\n
-335\n <\/p>\n
\n
-624\n <\/p>\n
\n
-46.3\n <\/p>\n
\n
Minorities\n <\/p>\n
\n
-64\n <\/p>\n
\n
-127\n <\/p>\n
\n
-49.6\n <\/p>\n
\n
Net Profit continued operations\n <\/p>\n
\n
1,728\n <\/p>\n
\n
1,927\n <\/p>\n
\n
-10.3\n <\/p>\n
\n
Discontinued operations1<\/p>\n
\n -16\n <\/p>\n
\n
77\n <\/p>\n
\n
-122.1\n <\/p>\n
\n
Reported Net profit\n <\/p>\n
\n
1,711\n <\/p>\n
\n
2,004\n <\/p>\n
\n
-14.6\n <\/p>\n
\n According to IFRS 5, Mexico contribution registered as Discontinued Operations\n <\/p>\n
\n
Q1 2026 Reported & Adjusted P&L \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n
Eur M\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
Reported\n <\/p>\n
\n
Mexico contribution\n <\/p>\n
\n
1\n <\/p>\n
\n
Capital Allowances UK\n <\/p>\n
\n
Q1 2026\n <\/p>\n
\n
adjusted\n <\/p>\n
\n
Revenues\n <\/p>\n
\n
12,018\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
12,018\n <\/p>\n
\n
Gross Margin\n <\/p>\n
\n
6,429\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
6,429\n <\/p>\n
\n
Net Operating Expenses\n <\/p>\n
\n
-1,348\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-1,348\n <\/p>\n
\n
Levies\n <\/p>\n
\n
-1,014\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-1,014\n <\/p>\n
\n
EBITDA\n <\/p>\n
\n
4,067\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
4,067\n <\/p>\n
\n
EBIT\n <\/p>\n
\n
2,591\n <\/p>\n
\n
–\n <\/p>\n
\n
2,591\n <\/p>\n
\n
Net Financial Expenses\n <\/p>\n
\n
-497\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-497\n <\/p>\n
\n
Equity Results2<\/p>\n
\n 32\n <\/p>\n
\n
+49\n <\/p>\n
\n
–\n <\/p>\n
\n
81\n <\/p>\n
\n
Taxes\n <\/p>\n
\n
-335\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-335\n <\/p>\n
\n
Capital Allowances in UK\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
+88\n <\/p>\n
\n
88\n <\/p>\n
\n
Minorities\n <\/p>\n
\n
-64\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-64\n <\/p>\n
\n
Net profit continued operations\n <\/p>\n
\n
1,728\n <\/p>\n
\n
+49\n <\/p>\n
\n
+88\n <\/p>\n
\n
1,865\n <\/p>\n
\n
Discontinued Operations\n <\/p>\n
\n
-16\n <\/p>\n
\n
+16\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
Net Profit\n <\/p>\n
\n
1,711\n <\/p>\n
\n
+66\n <\/p>\n
\n
+88\n <\/p>\n
\n
1,865\n <\/p>\n
\n Includes Mexican business contribution and capital gain negative adjustment to the divestment in 2024 of our thermal assets<\/p>\n
\n Equity Results includes Mexican contribution as Discontinued Operations in Adjusted P&L\n <\/p>\n
\n
Q1 2025 Reported & Adjusted P&L \/ Group\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n
Eur M\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
Reported\n <\/p>\n
\n
Mexico contribution\n <\/p>\n
\n
1\n <\/p>\n
\n
US past cost recognition\n <\/p>\n
\n
Capital Allowances UK\n <\/p>\n
\n
Q1 2025\n <\/p>\n
\n
adjusted\n <\/p>\n
\n
Revenues\n <\/p>\n
\n
12,583\n <\/p>\n
\n
–\n <\/p>\n
\n
-530\n <\/p>\n
\n
–\n <\/p>\n
\n
12,053\n <\/p>\n
\n
Gross Margin\n <\/p>\n
\n
7,022\n <\/p>\n
\n
–\n <\/p>\n
\n
-530\n <\/p>\n
\n
–\n <\/p>\n
\n
6,492\n <\/p>\n
\n
Net Operating Expenses\n <\/p>\n
\n
-1,431\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-1,431\n <\/p>\n
\n
Levies\n <\/p>\n
\n
-1,087\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-1,087\n <\/p>\n
\n
EBITDA\n <\/p>\n
\n
4,503\n <\/p>\n
\n
–\n <\/p>\n
\n
-530\n <\/p>\n
\n
–\n <\/p>\n
\n
3,974\n <\/p>\n
\n
EBIT\n <\/p>\n
\n
3,145\n <\/p>\n
\n
–\n <\/p>\n
\n
-530\n <\/p>\n
\n
–\n <\/p>\n
\n
2,616\n <\/p>\n
\n
Net Financial Expenses\n <\/p>\n
\n
-503\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-503\n <\/p>\n
\n
Equity Results2<\/p>\n
\n 36\n <\/p>\n
\n
+78\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
113\n <\/p>\n
\n
Taxes\n <\/p>\n
\n
-624\n <\/p>\n
\n
–\n <\/p>\n
\n
+140\n <\/p>\n
\n
–\n <\/p>\n
\n
-484\n <\/p>\n
\n
Capital Allowances in UK\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
+59\n <\/p>\n
\n
59\n <\/p>\n
\n
Minorities\n <\/p>\n
\n
-127\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
-127\n <\/p>\n
\n
Net profit continued operations\n <\/p>\n
\n
1,927\n <\/p>\n
\n
+78\n <\/p>\n
\n
-389\n <\/p>\n
\n
+59\n <\/p>\n
\n
1,674\n <\/p>\n
\n
Discontinued Operations\n <\/p>\n
\n
78\n <\/p>\n
\n
-78\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
–\n <\/p>\n
\n
Net Profit\n <\/p>\n
\n
2,004\n <\/p>\n
\n
–\n <\/p>\n
\n
-389\n <\/p>\n
\n
+59\n <\/p>\n
\n
1,674\n <\/p>\n
\n Includes Mexican business contribution\n <\/p>\n
\n
Equity Results includes Mexican contribution as Discontinued Operations in Adjusted P&L\n <\/p>\n
\n
Liquidity and maturities\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
Strong liquidity (above EUR 21 Bn) \u2026<\/p>\n
\n
Eur M\n <\/p>\n
\n
Cash 4,957\n <\/p>\n
\n
Available financing 1,655\n <\/p>\n
\n
Credit lines 14,827\n <\/p>\n
\n
21,439\n <\/p>\n
\n 4.234\n <\/p>\n
\n
3.668\n <\/p>\n
\n
4.998\n <\/p>\n
\n
5.173\n <\/p>\n
\n
3.813\n <\/p>\n
\n
9M 2026\n <\/p>\n
\n
2027\n <\/p>\n
\n
2028\n <\/p>\n
\n
2029\n <\/p>\n
\n
2030\n <\/p>\n
\n
2031+\n <\/p>\n
\n Maturities EUR M<\/p>\n
\n 31.198<\/p>\n
\u2026covering 23 months of financing needs and average life of debt of 6 years<\/p>\n
\n
Sustainable financing\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
EUR 2.4 Bn of new sustainability transactions \u2026<\/p>\n
NEW SUSTAINABILITY DEALS Q1 2026 (Eur M)<\/p>\n
\n SUSTAINABLE PORTFOLIO Q1 2026: EUR 68,871 M<\/p>\n
\n Sustainable Bank Loan<\/p>\n
\n 1.986<\/p>\n
\n Sustainable Commercial Paper 6.000<\/p>\n
\n Green Structured Financing<\/p>\n
\n 8.375<\/p>\n
\n Green Bond 25.011<\/p>\n
\n Sustainable Credit Lines<\/p>\n
\n 14.455<\/p>\n
\n Green Bank Loan 1.416<\/p>\n
\n Development Bank and ECA Green Loan<\/p>\n
\n 4.848<\/p>\n
\n Multilateral Green<\/p>\n
\n Loan<\/p>\n
\n 6.781<\/p>\n
\n
Product\n <\/p>\n
\n
Q1\n <\/p>\n
\n
Green\n <\/p>\n
\n
2,162\n <\/p>\n
\n
Hybrid bonds\n <\/p>\n
\n
600\n <\/p>\n
\n
Senior bonds\n <\/p>\n
\n
663\n <\/p>\n
\n
Bank Loans\n <\/p>\n
\n
32\n <\/p>\n
\n
Multilateral loans\n <\/p>\n
\n
175\n <\/p>\n
\n
Development bank loans\n <\/p>\n
\n
692\n <\/p>\n
\n
Sustainability-linked\n <\/p>\n
\n
228\n <\/p>\n
\n
Bank Loan\n <\/p>\n
\n
143\n <\/p>\n
\n
Development bank loans\n <\/p>\n
\n
85\n <\/p>\n
\n
Total\n <\/p>\n
\n
2,390\n <\/p>\n
\n \u2026 consolidating the rank of leading private issuer in green bonds for own investment\n <\/p>\n
\n
Significant progress in sustainability aligned with our strategy\n <\/p>\n
Leading corporate sustainable Issuer<\/p>\n
\n Capital Market Institute<\/p>\n
\n Sustainability Awards<\/p>\n
Innovation and operational excellence to offer our customers the best quality and more resilient service\n <\/p>\n
\n
Recognized Operational Excellence:\n <\/p>\n
\n
Ibero-American Quality Award (Gold Category) to Neoenergia distribution activities. Ofgem recognises the quality of service of ScottishPower’s distribution companies.\n <\/p>\n
\n
More reliable and resilient networks:\n <\/p>\n
\n
NYSEG Completes “North Brewster” Network Reinforcement Project. 24 active mobile substations for rapid incident response in New York.\n <\/p>\n
\n
Results presentation First quarter 2026<\/p>\n
\n Present in the main<\/p>\n
\n sustainability rankings<\/p>\n
\n Clean200 2025:<\/p>\n
\n Iberdrola, the world’s most sustainable utility for the 7th consecutive year<\/p>\n
\n Global Top 100 AI Projects<\/p>\n
\n Applied to Sustainability<\/p>\n
\n International Research Centre on Artificial<\/p>\n
\n Intelligence (IRCAI)<\/p>\n
\n Anticipation of extreme events:\n <\/p>\n
\n
Neoenergia: preventive activation and accelerated recovery from storms. Avangrid: Coordinated response to one of the world’s largest snowstorms.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Results presentation First quarter 29 April 2026 Legal Notice Results presentation First quarter 2026 FORWARD-LOOKING STATEMENTS This communication…\n","protected":false},"author":2,"featured_media":110,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[122],"tags":[146,147],"class_list":{"0":"post-13738","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iberdrola","8":"tag-iberdrola","9":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/13738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/comments?post=13738"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/13738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media\/110"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media?parent=13738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/categories?post=13738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/tags?post=13738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}