Financials Iberdrola, S.A.

Equities

IBE

ES0144580Y14

Electric Utilities

Market Closed - BME Other stock markets 12:41:53 2025-03-17 pm EDT			After market 02:22:52 pm
14.08 ^EUR	+1.08%		14.15	+0.50%

Mar. 14	Iberdrola And Air Liquide Sign PPA To Decarbonize Industrial Production In Spain And Portugal	RE
Mar. 12	Spanish stocks - Factors to watch on March 12	RE

Projected Income Statement: Iberdrola, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	33,145	39,114	53,949	49,335	44,739	47,111	50,269	51,502
Change	-	18.01%	37.93%	-8.55%	-9.32%	5.3%	6.7%	2.45%
EBITDA ¹	10,010	12,006	13,228	14,417	16,848	16,349	17,352	17,926
Change	-	19.93%	10.18%	8.99%	16.86%	-2.96%	6.13%	3.31%
EBIT ¹	5,536	7,343	7,984	8,973	9,729	10,413	11,070	11,448
Change	-	32.63%	8.73%	12.39%	8.43%	7.03%	6.31%	3.42%
Interest Paid ¹	-991	-1,003	-1,838	-2,187	-1,513	-2,163	-2,265	-2,299
Earnings before Tax (EBT) ¹	5,034	6,266	6,221	7,004	8,098	8,306	8,797	9,099
Change	-	24.47%	-0.71%	12.59%	15.62%	2.57%	5.91%	3.43%
Net income ¹	3,611	3,885	4,339	4,803	5,612	5,858	6,158	6,319
Change	-	7.59%	11.68%	10.7%	16.85%	4.38%	5.13%	2.62%
Announcement Date	2/24/21	2/23/22	2/22/23	2/22/24	2/27/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	9,426	7,042	7,781	8,897	10,088	8,664	9,248	11,114	12,150	12,280	13,473	16,046	15,461	10,803	10,930	12,142	12,678	9,958	10,480	11,622	14,077	11,057	11,636	12,905
Change	-	-25.3%	10.5%	14.35%	13.39%	-14.12%	6.74%	20.18%	9.32%	1.07%	9.72%	19.1%	-3.65%	-30.13%	1.18%	11.09%	4.42%	-21.45%	5.24%	10.9%	21.12%	-21.45%	5.23%	10.9%
EBITDA	2,751	2,168	2,427	2,665	2,879	2,565	2,721	3,841	2,951	3,493	3,085	3,699	4,064	3,496	3,222	-	5,857	3,757	3,655	3,579	-	-	-	-
Change	-	-21.2%	11.97%	9.81%	8.02%	-10.9%	6.1%	41.14%	-23.17%	18.37%	-11.67%	19.89%	9.88%	-13.97%	-7.84%	-100%	-	-35.86%	-2.71%	-2.07%	-100%	-	-	-
EBIT	1,643	1,032	1,313	1,548	1,713	1,529	1,540	2,562	1,747	2,175	1,741	2,320	2,738	2,173	1,902	-	4,501	2,359	2,212	657.8	-	-	-	-
Change	-	-37.16%	27.21%	17.92%	10.61%	-10.74%	0.71%	66.39%	-31.8%	24.5%	-19.96%	33.28%	17.99%	-20.64%	-12.48%	-100%	-	-47.59%	-6.21%	-70.26%	-100%	-	-	-
Charge d'intérêts	-180.3	-219.9	-240.6	-350.2	-265	-207	-224.9	-307	-399.5	-516.5	-463.1	-458.4	-563	-617.6	-538.2	-	-524.4	-323.7	-304.2	-405.9	-	-	-	-
Earnings before Tax (EBT)	1,969	802.2	1,072	1,191	1,443	1,325	1,322	2,176	1,563	1,604	1,288	1,765	2,231	1,546	1,582	-	3,981	2,031	1,887	198.5	-	-	-	-
Change	-	-59.26%	33.57%	11.19%	21.15%	-8.23%	-0.2%	64.56%	-28.14%	2.6%	-19.68%	37%	26.41%	-30.7%	2.3%	-100%	-	-48.99%	-7.07%	-89.48%	-100%	-	-	-
Net income	1,257	587.9	836	929.8	1,025	506.1	876.9	1,476	1,058	1,017	1,029	1,235	1,485	1,036	1,116	1,166	2,760	1,374	1,337	141.3	-	-	-	-
Change	-	-53.23%	42.2%	11.22%	10.26%	-50.63%	73.27%	68.38%	-28.32%	-3.93%	1.17%	20.07%	20.28%	-30.28%	7.79%	4.43%	136.72%	-50.2%	-2.72%	-89.43%	-100%	-	-	-
Announcement Date	4/29/20	7/22/20	10/21/20	2/24/21	5/12/21	7/21/21	10/27/21	2/23/22	4/27/22	7/27/22	10/26/22	2/22/23	4/26/23	7/27/23	10/26/23	2/22/24	4/24/24	7/24/24	10/23/24	2/27/25	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2024 S1
Net sales	-	24,430	26,264	-
Change	-	-	7.51%	-100%
EBITDA ¹	5,444	6,444	7,561	9,614
Change	-	18.38%	17.34%	27.15%
EBIT ¹	3,242	3,922	4,911	6,859
Change	-	21%	25.21%	39.67%
Charge d'intérêts ¹	-472	-916	-1,128	-848.2
Earnings before Tax (EBT) ¹	2,768	3,167	3,786	6,012
Change	-	14.43%	19.53%	58.8%
Net income ¹	1,531	2,075	2,521	4,134
Change	-	35.51%	21.49%	63.98%
Announcement Date	7/21/21	7/27/22	7/27/23	7/24/24

¹EUR in Million

Estimates

Forecast Balance Sheet: Iberdrola, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	35,925	39,541	44,185	47,914	37,773	56,961	59,891	63,919
Change	-	10.07%	11.74%	8.44%	-21.17%	50.8%	5.14%	6.73%
Announcement Date	2/24/21	2/23/22	2/22/23	2/22/24	2/27/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Iberdrola, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	5,554	6,472	6,788	7,880	9,491	13,555	12,996	12,792
Change	-	16.53%	4.88%	16.09%	20.44%	42.82%	-4.13%	-1.57%
Free Cash Flow (FCF) ¹	2,793	1,634	3,655	4,250	-	-1,209	-1,043	28
Change	-	-41.5%	123.68%	16.28%	-	-	-13.74%	-102.68%
Announcement Date	2/24/21	2/23/22	2/22/23	2/22/24	2/27/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Iberdrola, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	30.2%	30.69%	24.52%	29.22%	37.66%	34.7%	34.52%	34.81%
EBIT Margin (%)	16.7%	18.77%	14.8%	18.19%	21.75%	22.1%	22.02%	22.23%
EBT Margin (%)	15.19%	16.02%	11.53%	14.2%	18.1%	17.63%	17.5%	17.67%
Net margin (%)	10.89%	9.93%	8.04%	9.74%	12.54%	12.43%	12.25%	12.27%
FCF margin (%)	8.43%	4.18%	6.77%	8.61%	-	-2.57%	-2.08%	0.05%
FCF / Net Income (%)	77.35%	42.06%	84.24%	88.49%	-	-20.65%	-16.94%	0.44%
Profitability
ROA	2.95%	2.8%	2.93%	3.2%	3.64%	3.65%	3.64%	3.64%
ROE	9.69%	9.76%	10.22%	10.93%	16.15%	11.56%	11.75%	11.6%
Financial Health
Leverage (Debt/EBITDA)	3.59x	3.29x	3.34x	3.32x	2.24x	3.48x	3.45x	3.57x
Debt / Free cash flow	12.86x	24.2x	12.09x	11.27x	-	-47.1x	-57.41x	2,282.83x
Capital Intensity
CAPEX / Current Assets (%)	16.76%	16.55%	12.58%	15.97%	21.21%	28.77%	25.85%	24.84%
CAPEX / EBITDA (%)	55.48%	53.91%	51.32%	54.66%	56.33%	82.91%	74.89%	71.36%
CAPEX / FCF (%)	198.85%	396.08%	185.72%	185.41%	-	-1,120.88%	-1,245.78%	45,685.59%
Items per share
Cash flow per share ¹	1.294	1.256	1.61	1.881	1.787	1.936	2.052	2.214
Change	-	-2.95%	28.14%	16.86%	-4.99%	8.33%	5.96%	7.93%
Dividend per Share ¹	0.42	0.44	0.449	0.501	0.56	0.6509	0.6864	0.7089
Change	-	4.76%	2.05%	11.58%	11.78%	16.22%	5.46%	3.28%
Book Value Per Share ¹	5.577	6.359	6.463	6.789	7.405	8.277	8.715	9.192
Change	-	14.03%	1.64%	5.04%	9.07%	11.78%	5.3%	5.47%
EPS ¹	0.55	0.584	0.652	0.719	0.841	0.9253	0.9668	1.003
Change	-	6.18%	11.64%	10.28%	16.97%	10.02%	4.49%	3.78%
Nbr of stocks (in thousands)	6,126,871	6,175,302	6,268,568	6,239,270	6,178,092	6,252,544	6,252,544	6,252,544
Announcement Date	2/24/21	2/23/22	2/22/23	2/22/24	2/27/25	-	-	-