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

IBERDROLA, S.A.

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Iberdrola S A : launches the first app for collaborative electric vehicle charging for private users

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09/22/2020 | 12:35pm EDT

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22/09/2020

The company will be giving away 50 automatic garage opening devices and 50 recharging points provided by Wallbox

Iberdrola launches the first app for collaborative electric vehicle charging for private users
  • The application places the owners of charging points who wish to rent them out in contact with electric vehicle users. It is also integrated with automatic garage opening devices that provide remote access.
  • The pilot project, led by Iberdrola within the framework of the Madrid in Motion initiative, is being launched together with the startups HomyHub and Cargatucoche

Iberdrola is making progress in its electrification strategy of offering new sustainable mobility solutions with the launch of the first app aimed entirely at collaborative electric vehicle recharging.

Through this application, developed in collaboration with startups Cargatucoche and HomyHub, owners of charging points who wish to rent them out are placed in contact with electric vehicle users. The app, which is available for download on Google Play and App Store, has just been launched to coincide with European Mobility Week.

The aim of this application is to provide solutions to users who are considering purchasing an electric vehicle but do not have a garage space where they can install a charging point. Today, more than 15 million electric vehicles 'sleep' out on the street.

The application, developed by the start-up Cargatucoche, enables the owners of the points to rent them out on whichever days and hours to suit them and at the price that they decide. To facilitate remote access to the rental infrastructure, the app has been integrated into HomyHub's smart devices, from which the doors or barriers can be opened and closed from any mobile device.

The app has an identity validation system by scanning the Spanish National ID card and a selfie, and the HomyHub devices have a system for registering the accesses made.

Combined efforts in the search for solutions

The first 50 participants in this project will receive a HomyHub automatic opening device free of charge. Wallbox is offering free recharging points to the first 50 project participants.

Companies such as SEAT, Cabify and Pryconsa have joined this challenge, collaborating in the search for synergies and solutions to continue promoting electric mobility, promoting this project among its network of customers, employees and collaborating partners.

Mobility and the positive impact on cities

The project is part of 'Madrid in Motion', an urban mobility initiative launched by barrabes.biz with the support of the Madrid City Council and the Municipal Transport Company, to generate collaborative and innovative solutions on mobility challenges that promote a positive impact in the future for cities and their citizens.

The startups HomyHub and Cargatucoche have financial support from Iberdrola, as well as support from its Smart Mobility team to develop and achieve the solution. They also have the opportunity to work with the energy group's other business areas and companies. In the global challenge, the company analysed 54 proposals submitted by technological innovators.

Step on the gas and reinforce your sustainable mobility plan

Iberdrola continues to push its stance for transport electrification as part of its strategy for a decarbonised economy, as a key lever in the reduction of emissions and city 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 €150 million, with which it will increase its roll-out of electric vehicle recharging points in the coming years. The initiative entails around 150,000 charge points in homes, companies and on the public road network in cities as well as on the main motorways and highways over the next five years. The commitment to deploying high efficiency charge points will see the company install ultra-rapid (350 kW) charge points every 200 kilometres, super-rapid ones (150 kW) every 100 kilometres, and rapid (50 kW) charge points every 50 kilometres.

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

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.

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About Iberdrola

Iberdrola is a global energy leader, the number one producer of wind power, and one of the world's biggest electricity utilities by market capitalisation. The Group supplies energy to almost 100 million people in dozens of countries including Spain, the United Kingdom (ScottishPower), the United States (AVANGRID), Brazil (Neoenergia), Mexico, Germany, Portugal, Italy and France. With a workforce of more than 35,000 people and assets in excess of €122 billion, it achieved a turnover of over €36.4 billion and a net profit of €3.4 billion in 2019. Iberdrola is leading the transition towards a sustainable energy model through its investments in renewable energy, smart grids, large-scale energy storage and digital transformation, to offer the most advanced products and services to its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to sustainability and the fight against climate change.

Disclaimer

Iberdrola SA published this content on 22 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2020 15:34:02 UTC


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Financials
Sales 2020 36 783 M 42 937 M 42 937 M
Net income 2020 3 736 M 4 360 M 4 360 M
Net Debt 2020 39 559 M 46 177 M 46 177 M
P/E ratio 2020 17,7x
Yield 2020 4,06%
Capitalization 62 617 M 73 014 M 73 091 M
EV / Sales 2020 2,78x
EV / Sales 2021 2,69x
Nbr of Employees 35 816
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 11,05 €
Last Close Price 10,22 €
Spread / Highest target 24,3%
Spread / Average Target 8,10%
Spread / Lowest Target -15,9%
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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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