Ebitda rose 2.5%
The keys for the first nine moths of 2013 have been:
- The Gross Margin for Renewables business rose 5.4% to €1,759.2 million.
- Ebitda rose to €1,211.0 million, representing an increase of 2.5%, regarding the same period of 2012. To a gross margin improvement should be added the net operating expenses decrease by 3.4%.
- By business, the gross margin evolution was the following:
- Wind energy Spain; Gross Margin for the period was at €779.1 million (+8.4%), as a result of the strong increase in production (+12.3%).
- Wind Energy United States: Gross Margin increased by 8.1% to €498.3 million, due to a 4.5% increase in production.
- Wind Energy United Kingdom: Gross Margin amounted to €193.5 million (+10.5%), as a result of the increase in average power (+19.4%).
- Wind Energy Rest of the World: the decrease in production (-17.6%), as a result of divestments made in France, Germany and Poland, is not offset by an increase in prices (+2.9%), drove the Gross Margin down by -15.2%, placing it at €187.3 million.
- At the end of the third quarter of 2013, the Renewables business had an installed capacity of 14,101MW, with an operating capacity of 13,857 MW, after adding 647 MW and divesting 550 MW in the last twelve months.
- Onshore wind energy: after including 330 MW of wind capacity over the last twelve months, IBERDROLA has reached a total installed capacity of 13,686 MW. This is geographically broken down as follows: 5,735 MW for Spain, 5,443 MW for the United States, 1,352 MW for the United Kingdom and Ireland and 1,156 for the Rest of the World.
- Offshore wind energy: IBERDROLA also leads in offshore development with more than 6,110 MW under development in the UK (79%), Germany (13%) and France (8%). Salient projects include projects at West of Duddon Sands, (North Sea, 390 MW); East Anglia (North Sea, 7.200 MW); Wikinger (Baltic Sea, 400 MW); and Saint Brieuc (Côtes D´Armor, 500 MW installed capacity), in consortium with EOLE/RES.
- Marine energy: IBERDROLA continues with the development of marine technologies; after having installed the “Pellamis” P-2 prototype in 2011, for the exploitation of wave energy in the European Marine Energy Centre (EMEC) in Orkney, the Company continues to work on the development of Hammerfest Strom´s prototype with a power 1 MW. In this context, the Sound of Island project, which envisages 10 MW of tidal capacity, continues on schedule. IBERDROLA is also completing the development of two other facilities, one tidal facility and the other one wave facility, with 95 MW and 50 MW, respectively.
- Other renewable technologies: the Renewables business has facilities with other renewable technologies in several countries amounting to 413 MW.
RENEWABLES BUSINESS EBITDA BREAKDOWN (% AND € MILLION)
FIRST NINE MONTHS OF 2013 RENEWABLES PRODUCTION BY REGION (GWh)