MADRID (Reuters) – Iberdrola said on Wednesday its gross operating profit (EBITDA) fell by 6 percent to 2,008 million in the first three months of the year, period marked by the weakness of some currencies and declines in the results of markets such as Spain, the UK and Mexico.
In his statement to securities supervisor, Iberdrola said EBITDA was affected by extraordinary items such as expenses related to the integration of UIL, a reversal of a provision in Spain and expenses to compensate customers in the UK .
The group hopes that these “atypical” are compensated throughout the year.
The Basque group net profit, however, rose 3.3 percent to 869 million euros, helped by financial hedges arranged against the devaluation of the dollar and the pound.
the seven analysts polled by Reuters predicted average EBITDA of 2,082 million euros and net profit of 853 million.
Iberdrola also said that ratifies growth estimates made in its recent strategic plan, which include an increase in net consolidated environment to 5 percent in 2016.
the directors of the world’s leading wind energy group and second in Europe by market capitalization explain the quarterly accounts to market a teleconference starting at 0930 local time.
Beyond the figures, attention will reside on any comments about political uncertainties affecting the UK and Spain, two of the main markets for electrical chaired by Ignacio Sánchez Galán.
(Reporting by Jose Elias Rodriguez; edited by Robert Hetz)
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