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In Figures: First Quarter 2015

IBERDROLA Q1 EBITDA ROSE 8.8% DRIVEN BY A 14.5% INCREASE IN INTERNATIONAL BUSINESS

  • Recurring net profit rose 7.2% (€841 million).
  • Gross margin rose 6.8% to €3,614 million, helped by strong results from networks (+17.3%) and renewables (+21.6%).
  • EBITDA from networks rose 24.1% to €966.8 million.
  • Generation and supply recorded EBITDA of €781.4 million, a drop of 11.4%.
  • EBITDA from renewables rose 24.7% to €428.3 million.
  • Operating profit (EBIT) rose 5.3% to €1,343.8 million, with a 17% increase in depreciation due to currency impacts and new renewable capacity on stream.
  • Funds from operations (FFO) were 6.6% higher at €1,658.5 million, exceeding investments which came to €593 million across all businesses.
  • The Company improved its operating performance.
  • Continued improvement in financial strength: gearing improved to 41.2% from 42.2% despite that impact and net debt/EBITDA improved to 3.7x.
  • Performance during the quarter enabled IBERDROLA to reaffirm its commitment to offer shareholders a minimum remuneration of €0.27 gross per share until 2016.
  • The proposed integration of UIL Holdings Corporation (UIL) and IBERDROLA's US subsidiary – with an enterprise value exceeding $4 billion – will create a new company listed on the New York stock exchange with assets exceeding $30 billion and in which IBERDROLA will hold 81.5% of its capital.

Historic IN FIGURES in previous periods

| 2014 | 2013 | 2012 | 2011 | 2010 |

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