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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Iberdrola, S.A.    IBE   ES0144580Y14

IBERDROLA, S.A.

(IBE)
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Iberdrola S A : Iberdrola and Volvo Car Espana agree to promote electric mobility in Spain together

10/21/2020 | 11:54am EST

Iberdrola and Volvo Car Espana have signed a framework cooperation agreement to promote sustainable mobility, under which the energy group will supply charging solutions for the car manufacturer's Recharge vehicle range in Spain.

The solution that Iberdrola and its subsidiary Wallbox will supply to Volvo is designed to make charging its customers' vehicles easier as it includes both the supply of the charging point and its installation in a private or shared garage.

In addition, customers will be able to sign up for the Iberdrola Electric Vehicle Plan electricity rate, which allows users to travel 1,000 kilometres for 5 euros, ten times cheaper than diesel or petrol. The proposal also includes six months of free charging anywhere in the Iberdrola public network.

100% GREEN ENERGY AND DIGITAL SOLUTIONS

Using the infrastructure that Iberdrola will supply to the manufacturer, users of the Volvo Recharge range will charge their electric car's batteries with 100% green energy from clean generation sources with certificates guaranteeing its renewable origin (GoO).

The charging points will also be available on the Iberdrola Public Charging App, the only one in Spain with verified information about all Iberdrola's public charging points, and those belonging to other operators. With the app, drivers will be able to geo-locate a charger and, in the case of Iberdrola customers, be able to book it and pay using their mobile phone.

ELECTRIC MOBILITY AND GREEN RECOVERY

Iberdrola continues to be committed to the electrification of transport in its strategy for the transition to a decarbonised economy, as a key element in reducing emissions and pollution, as well as for a green recovery in the post-Covid world.

The company has unveiled a sustainable mobility plan, with an investment of EUR150 million, with which it will increase its roll-out of electric vehicle charging points over the coming years.

The initiative entails installing around 150,000 charge points in homes, companies and on the public road network in cities, as well as on the main motorways and roads over the next five years. The commitment to deploying high efficiency charging points will see the company install ultra-rapid (350 kW) charging points every 200 kilometres, super-rapid ones (150 kW) every 100 kilometres, and rapid (50 kW) charging points every 50 kilometres.

Iberdrola is aware of the need to boost electric mobility in Spain through coordinated, effective action involving the major players. The company has, therefore, now completed more than 40 infrastructure roll-out agreements with government departments, institutions, companies, service stations, and electric vehicle dealers and manufacturers.

The company has recently become the first Spanish business to subscribe to The Climate Group's EV100 initiative, with the aim of accelerating the transition towards electric vehicles with a commitment to electrifying its entire fleet of vehicles and allowing its staff to charge their vehicles at its businesses in Spain and the United Kingdom by 2030.

VOLVO'S STRATEGY

In 2019, Volvo met the target it set in 2017 of having an electrified version of all its vehicles available from that year on. In Spain, the Volvo Recharge range of plug-in hybrids now offers seven models and twelve versions with a 0 emissions label. Volvo has also set a target of reducing its vehicles' carbon footprint by 40% during their useful life, between 2018 and 2025.

A full 80% of the electricity used by the Volvo manufacturing network worldwide is sustainable and comes from renewable sources. All of the electricity used at its Chengdu factory, the biggest Volvo Cars factory in China, is now supplied from renewable sources: around 65 percent comes from hydroelectric power and the rest from solar or wind power and other sources.

The manufacturer's other short-term goals are to reduce the CO2 emissions linked with its global supply chain by 25% by 2025 and to reduce the carbon emissions associated with the company's general operations by 25%.

The market share of Volvo Cars' Recharge range of rechargeable models more than doubled in the first six months of the year as compared to the same period in 2019. In Spain, the Recharge range currently accounts for more than 20% of sales and the trend is expected to continue upwards in the coming years.

Between 2020 and 2025, Volvo Cars is going to present five completely electric models, the first of which is the four-wheel-drive XC40 Recharge, with over 400 kilometres between charges (WLTP) and delivering 408 HP.

Contact:

Susana Sanjuan

Tel: +34 91 784 32 32

Email: comunicacioncorporativa@iberdrola.es

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 36 428 M 43 437 M 43 437 M
Net income 2020 3 728 M 4 445 M 4 445 M
Net Debt 2020 40 113 M 47 831 M 47 831 M
P/E ratio 2020 19,5x
Yield 2020 3,70%
Capitalization 69 234 M 82 450 M 82 554 M
EV / Sales 2020 3,00x
EV / Sales 2021 2,93x
Nbr of Employees 35 816
Free-Float 94,7%
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Average target price 11,26 €
Last Close Price 11,30 €
Spread / Highest target 15,0%
Spread / Average Target -0,37%
Spread / Lowest Target -23,9%
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NameTitle
José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Fernando Lucero Batalla Head-Information Technology & Finance
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
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