Iberdrola Renewables quadruples net profit in first half of 2008 to ?194.2 million

Chief among the factors that led to these results were higher than expected prices for the power generated and good progress towards the strategic goals outlined in the 2008-2012 Strategic Plan. The company is looking to earn a profit of 400 million Euro this year. THE Ebitda overall was €571.2 million for the first half of the year , this while at the same time making a net operating profit (Ebit) of €357.5 million. The three main markets responsible for the results were Spain, the United States and the United Kingdom with only 5% coming from the rest of the world. 851 MW of new capacity were installed worldwide during the first half of 2008, overall Iberdrola Renewables expects to install 2,000 MW of new capacity this year.

The Company has 4,383 MW of wind power capacity in Spain and 3,224 MW abroad, including 1,983 MW in the U.S. and 531 MW in the UK. The remaining 710 MW is mainly in Europe, with 217 MW in Greece, 166 MW in France, 128 MW in Poland, 63 MW in Germany and 56 MW in Portugal.

The Company produced 8,558 million kilowatt hours (kWh) in the first half, a rise of 83.5% over the previous period, with 45% of the total generated outside Spain. Load factors were much higher than the year before, rising 8.8% to more than 2,400 hours/year.

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http://www.iberdrolarenovables.es/wcren/corporativa/iberdrola?IDPAG=ENMODULOPRENSA&URLPAG=/gc/en/comunicacion/notasprensa/080723_NP_Presentacion_Resultados_1S.html