ROCHESTER, N.Y., Feb. 14, 2013 /PRNewswire/ --
- Group revenues rose 8.1%
- Debt was reduced by nearly €1.4 billion
- Operating cash flow rose 2.5%
- Liquidity passes €12 billion – enough to meet needs for more
than three years
- Board maintains dividend of €0.3 per share
Here are some highlights from global energy leader Iberdrola
(IBDRY:US) 2012 financial results reported today in London. You may view the original Iberdrola
S.A. news release here: http://bit.ly/YZzeGc .
- 2012 Group revenues rose 8.1% to €34.2 billion, while gross
margin increased 4.6% to €12.6 billion and operating cash flow rose
2.5% to €6.2 billion.
- EBITDA increased 1% to €7.73 billion.
- Net earnings rose 1.3% to €2.84 billion, driven by a 35%
earnings growth in international business.
- Worldwide installed renewable generation capacity increased
2.5% to more than 14,000 megawatts.
Iberdrola continued to strengthen its balance sheet by selling
€850 million (of the €2 billion planned) of non-strategic assets,
limiting capital investments to €3.26 billion and reducing debt by
€1.4 billion to €30.3 billion.
US Networks
US networks business distributed 31,573
gigawatt hours of electricity to customers in Maine and New
York - a rise of 1.2% from 2011. US networks EBITDA rose
20.5% to €660.2 million, helped by higher revenues and favourable
exchange rates.
Operations highlights for the year include Central Maine Power
(CMP) reaching the half-way point in construction of the Maine
Power Reliability Program, a $1.4
billion upgrade to the New England transmission system. CMP
also completed the installation of 620,000 smart meters - one of
the largest installs in the United
States.
Annual General Meeting and Dividend
The Board of
Directors has set its Annual General Meeting for Friday March 22. The Board also declared a before
tax dividend of approximately €0.3 per share.
Due to its strong performance and strengthened balance
sheet, the Company will propose a 2.4% share buyback, consisting of
the amortization of 1.4% of treasury stock and repurchase of
another 1%.
About Iberdrola USA:
Iberdrola USA, a subsidiary of
global energy leader Iberdrola, S.A., is the parent company of
Central Maine Power, Maine Natural Gas, NYSEG and RG&E which
together deliver energy to 2.7 million customers throughout upstate
New York and New England. For more
information about Iberdrola USA,
visit www.iberdrolausa.com.
SOURCE Iberdrola USA