Iberdrola reaps from Brazilian acquisition and Spanish rain

The inclusion of Iberdrola's Brazilian recently acquired subsidiary sends the group's operating result skyrocketing.

Photo: Iberdrola

Spanish energy company Iberdrola has grown its net income by 23 percent. One significant factor of this growth is that Iberdrola included for the first time its Brazilian asset – the Brazilian company Elektro acquired via subsidiary Neoenergia – in its group accounting.

Iberdrola presented earnings before interest, taxes, depreciations and amortizations for the this year's first nine months grew to EUR 6.7 billion, relative to EUR 5.5 billion from the same period last year. That is slightly more than the consensus forecast, which was at EUR 6.6 billion, reports Bloomberg News.

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