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HomeLatest NewsIberdrola becomes the second electric company in the world in market value

Iberdrola becomes the second electric company in the world in market value

Date: December 10, 2023 Time: 23:46:12

One more step, Iberdrola is only following in the footsteps of the American utility NextEra. The Spanish energy company is from this week the second electricity company in the world in stock market value, exceeding 70,000 million euros, according to the closing of the parquets this Friday. The company chaired by Ignacio Sánchez Galán has managed to climb onto the podium in a week in which the main Spanish companies have presented results.

The electric company closed this Friday with a market capitalization of 70,201 million euros, surpassing the American Duke Energy with which it competes very closely. NextEra, with 136,000 million euros, is the world’s leading electricity company.

Leader in Europe

In Europe, Iberdrola already led the ranking of companies with the highest capitalization above the Italian Enel, parent of Endesa, and the French state-controlled EdF, which concluded yesterday with capitalizations of 53,212 million euros and 46,108 million, respectively .

The Spanish electricity company generated a net profit of 4,339 million euros in 2022, which represents an advance of 11.6% compared to the previous year, in a year in which geographical diversification offsets the 19% drop in the result of Spain , as reported on Wednesday to the National Securities Market Commission (CNMV).

The company has made historic investments of 10,730 million euros, which is 13% more, despite inflationary pressures and the challenges of the supply chain.

With these data, the company reported that it continues to “take firm steps” in its commitment to accelerate the energy transition to reduce dependence on fossil fuels, despite this being the sector that has benefited most from the crisis, according to recently released results.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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