By Giulia Petroni

 

Iberdrola SA said Wednesday that net profit fell in the first nine months of the year, and that overall performance continues to be affected by the coronavirus pandemic, even if to a lesser extent.

The Spanish energy company said net profit came in at 2.41 billion euros ($2.79 billion) in the period from EUR2.68 billion in the previous year. The fall was attributed to the effect on deferred taxes in the U.K. and by the capital gain recognition from the stake sale in Siemens Gamesa Renewable Energy SA in 2020.

On an adjusted basis, net profit was EUR2.69 billion.

Earnings before interest, taxes, depreciation and amortization increased to EUR8.16 billion from EUR7.38 billion, while revenue was up to EUR28 billion from EUR24.25 billion a year earlier.

The company said the total impact from Covid-19 amounted to EUR196 million at earnings before interest and taxes level due to a fall in demand and increase in delinquency rates.

Iberdrola said its board of directors has agreed to a gross interim dividend of at least EUR0.168 a share. A supplementary dividend will be added to this amount after receiving approval at the general meeting.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

October 27, 2021 02:55 ET (06:55 GMT)

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