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Wholesale and Retail Business

Since January 1st the Wholesale and Retail Business [PDF] includes: Spain, Portugal, United Kingdom, Mexico and Continental Europe have been integrated.

This integration focuses on launching a new form of management to maximize the benefits of Group working on key points:

  • Optimisation of the organizations
  • Delivery of additional synergies
  • Increased operational efficiency
  • Identify activities with growth potential

Operating strenght

At the end of 2014, the main keys have been:

  • Generation  and supply area generated Ebitda of €2,292.2 million, a rise of 15.4% that reflects strong operating performance throughout the year, coinciding with a temporary 6.2% decline in levies.
  • In Spain Ebitda fell 37% to €420.6 million, or €247.8 million lower than the previous year, due fundamentally to the negative impact of regulatory measures in place, and 13.2 % above then in 2013.
  • Ebitda in the UK came to €456,6 million, as a consequence of improved operating performance at power stations. The margin of Ebit to sales for generation and supply in the UK continues to be low at 1.3%.
  • In Mexico, Ebitda came to €350 million, driven by new contracts and higher sales to private customers.
  • IBERDROLA Installed capacity in Spain (ex-renewable) reached 19,174 MW. Out of this, IBERDROLA consolidates 18,837 MW and manages through investee companies a further 337 MW, which in the previous financial year were consolidated under the method of proportional integration. However, following the entry into force of the accounting standard IFRS 11, they are now consolidated by the equity method.
  • In the UK, (formerly SPW Renewables) amounted to 4,835 MW at 31 December 2014. Scottish Power had 3.3 million electricity customers and 2.2 million gas customers.
  • In Mexico, the installed capacity amounts to 5,027 MW. Electricity supplied during 2014 increased to 37,175 GWh.
  • Inthe USA and Canada, Ebitda fell - € 32 million.

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


DEREGULATED BUSINESS EBITDA BREAKDOWN (% and Eur M): Spain: 1,334.9 – 70.81% ; Mexico: 245,6 – 13.03% ; UK: 304.4 – 16.15%; USA & Canada: 0,4 - 0.02%.


  • Note (*) EE.UU and Canada Ebitda not included.
  • © 2015 Iberdrola, S.A. All rights reserved.