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Lines of Business

As of 2011, the operating and economic and financial information of IBERDROLA Group is structured as follow business lines: Network Business, Wholesale and Retail Business, Renewable Energy Business and Other Businesses. On the other hand, Corporate encompasses the costs of the Group structure (Single Corporation) for the administrative services of the corporate areas that are later billed to the other companies, whether through specific service contracts or a management fee.

IBERDROLA RECORDS €2,327 MILLION NET PROFIT IN 2014, DRIVEN BY INTERNATIONAL BUSINESS

The keys for 2014 have been:

  • Group EBITDA showed a positive trend for the period and rose 3.1% to €6,964.5 million during 2014, and 5.5% above the objective set for the year.
  • Gross margin improved 3.4% to €12,179.5 million as a result of lower purchases (-7.5%).
  • Net operating expenses were 4.8% higher at €3,633.8 million, although recurring expenses were only 1.1% higher at €3,506.1 million. Gross margin growth, higher than that of net operating expenses, resulted in a more than 2% improvement in operating efficiency.
  • Wholesale and Retail Business EBITDA amounts to €2,292.2 million, a rise of 15.4% compared with the same period of 2013.
  • EBITDA from networks was 5.6% higher at €3,534.8  million in 2014.
  • Renewables business recorded EBITDA of €1,326 million, down 11.7% lower than the same period last year. 
  • EBIT was EUR 3,940.9 million, with an increase of 77.6% compared with the same period of 2013 after the write-offs made in June 2013 (Gas USA, portfolio of renewables and other projects).
  • Operating cash flow stood at €5,458.6 million (-2.3%) and investments in outperforms all the Group's business that, in total, amounted to € 2.848 million net.
  • The Company reduced debt by around €1.5 billion to €25,344 million. Gearing came to 41.7% at the close of the year compared to 43.2% in December 2013.
  • Performance during the year enabled the Group to maintain its commitment to offering annual shareholder remuneration of at last €0.27 gross per share.
  • Total production of the IBERDROLA Group in the period increased by 1.8%, to 138,891 GWh amounts to 103,891 GWh.
  • IBERDROLA had 45,089 MW installed, of which 62% produces emission-free energy, and operates at a very low variable cost. There is likewise over 14,652 MW of renewable power installedNote (1).

Further information on economic-financial and operating data of the IBERDROLA Group can be found in the section In Figures and Full Year 2014 Report Results [PDF].

EBITDA BREAKDOWN (% AND € MILLIONS)Note (*)

EBITDA Breakdown (%): Renewables: 17% / €712.8 ; Networks: 47% / €1,654.6 million; Wholesale and Retail Business: 31% / €1,451.7; Regulated Generation: 5% / €140.4; Regulated business includes Networks; Renewables; and regulated generation

GROUPS TOTAL PRODUCTION (GWh)

Groups total production (GWh): Spain: 46,635, 46%; UK: 14,299, 14%; USA: 13,034, 13%; Latin America: 29,068, 28&; RoW : 1,056, 1%.

Footnotes:

  • Note (1) Under consolidated effects they amount to 14,051 MW.
  • Note (2) Other businesses, corporation and adjustments not included.
  • © 2015 Iberdrola, S.A. All rights reserved.