Iberdrola is still growing, despite the prevailing economic scenario. This progress is largely due to the company's focus on doing business abroad, which started a decade ago and means that it is now operating in dozens of different countries. This geographical diversification is particularly visible in its accounts, as while the international contribution represented 1% of EBITDA in the year 2000, it now represents two-thirds of the figure.
The incorporation of the Brazilian Elektro into the group was the company's most recent milestone in its commitment to focus on economic recovery from a multinational perspective.
Iberdrola bought Elektro for US$2.4 billion in early 2011. The incorporation of this distribution company, which has over two million customers, is confirmation of the company's determination to continued growth in Brazil, one of the key countries in its strategy for international expansion.
Iberdrola's expansion gained particular momentum from 2007 onwards, the year in which it bolstered its presence in the United Kingdom by taking over ScottishPower. One year later, Iberdrola bought Energy East (now Iberdrola USA) in the United States.
After an ongoing focus on the English-speaking world in recent years, the company is now directing its efforts towards reinforcing its presence in markets where it was already operating a decade ago and towards extending its position to other countries with unquestionable potential. For example, Latin America, Brazil and Mexico are spearheading its future growth, given the significant prospects for growth in their energy sectors. The goal is to continue to leverage the group's potential, as this will be beneficial for its shareholders, customers, employees, suppliers and for society at large.
As part of its drive to make the most of the company's potential, the Group has developed a new organisational model in parallel to its launch in new markets and its ever-increasing global dimension. The new structure is based on creating global business divisions, fully developing a single corporation and coordinating activities in each geographical area with a local focus.
Looking ahead to the future, Iberdrola will continue to promote its international expansion, growth in the areas of green energies and distribution networks and ongoing improvement in efficiency. These will be the main focuses of its operations in the years to come.
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