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Wholesale and Retail Business

Generation and Retail recorded an EBITDA of €640.6 million (-18.1%)

WHOLESALE AND RETAIL BUSINESS EBITDA BREAKDOWN BY COUNTRIES (%)

WHOLESALE AND RETAIL BUSINESS EBITDA BREAKDOWN BY COUNTRIES (%): Spain: 46%; UK: 35%; Mexico: 16%.

At the end of the first quarter of 2016, EBITDA by geographical areas have been:

  • Spain: In Spain EBITDA came to €296.1 million (-31.5%). 
    • Higher outputNote (1) (+5.2%) as a consequence of better hydro conditions, with reserves at maximum levels (9,156 GWh; 81.19%)
    • Lower Gas trading activity vs Q1 2015 (€65 million)
    • Positive Court Rulings accounted for in Q1 2015 (€57 million)Note (2)
    •  
  • United Kindom: In the UK, EBITDA came to £ 173.5 million.
    • Wholesale and Retail Business business improves due to higher gas output and lower procurement costs.
    • Retail business results results decrease driven by milder weather conditions, higher non energy costs (ROCs) and OFGEM ruling on customer compensation
    •  
  • Mexico: In Mexico EBITDA is $113.1 million (-15.3%). 
    • Due to lower margins in contracts with private customers due to the decrease of CFE tariff. CFE tariff increased by 6% in April vs March. EBITDA will recover throughout the year
    •  
  • In US & Canada EBITDA is $18.5 million (N/A) due to better performance of gas business.
  •  

Further information on economic-financial and operating data of the IBERDROLA Group can be found in the section In Figures, First Quarter 2016 Report Results [PDF] and Results Presentation First Quarter 2016 [PDF].

To find out the results of previous years access to Quarterly information.

Footnotes:

  • Note (1) Includes cogeneration.
  • Note (2) Eur –20 M accounted for in Expenses and Eur –37 M accounted for in Levies.
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