Iberdrola and Enagás financial performance

Iberdrola reported a 5.8% increase in electricity distribution for the first nine months of 2026, totaling 206,947 GWh. This growth was largely attributed to a 22.8% surge in the United Kingdom following the integration of Electricity North West, alongside increases in Brazil and Spain. In its updated nine-month financial results, Iberdrola reported a net profit of €5,816.1 million, representing a 9.6% increase compared to the same period in 2025. This performance was significantly bolstered by a €953 million capital gain from the sale of its Mexican business to Cox. Consequently, the company raised its 2026 guidance, now expecting adjusted net profit growth of at least 10%. Additionally, Iberdrola’s adjusted EBITDA rose 7.5% to €11,890.6 million, driven by expansion in regulated networks, and the company announced an 8.7% increase in its interim dividend to €0.275 per share. Further details on Iberdrola’s performance show that its Networks business EBITDA increased by 14.9% to €6.430 billion, supported by higher tariffs and regulated assets in the United States and Brazil. The company is allocating approximately 6.277 billion euros—62% of its investments—toward networks. Net financial debt rose to €56.984 billion from €51.755 billion at the end of 2025, a change attributed to ongoing investments and the purchase of minority stakes in its Brazilian subsidiary, Neoenergia, totaling €1.109 billion. Enagás reported a net profit of €204.1 million for the first nine months of 2026, a 22.3% decrease compared to the €262.8 million recorded during the same period in 2025. The company attributed this decline to the absence of extraordinary capital gains from previous asset sales, such as the Gasoducto Sur Peruano and Soto la Marina transactions, and a regulatory framework that reduced regulated revenues by €45.1 million.