Iberdrola
Bilbao-based electric utility listed in Madrid, with networks and generation in Spain, the United Kingdom, the United States and Brazil. It reported a net profit of EUR 6.285 billion for 2025.
Industry: Electric utilities and renewable energy | Location: Bilbao, Spain | Founded: 1992
About Iberdrola
Iberdrola is a Spanish electric utility headquartered in Bilbao. Its shares are listed on the Madrid stock exchange under the ticker IBE and are part of the IBEX 35 index. The group operates in Spain, the United Kingdom, the United States and Brazil, and has offshore wind farms in the German Baltic Sea. Its ScottishPower, Avangrid and Neoenergia subsidiaries cover the UK, US and Brazil.
Iberdrola was created on 1 November 1992 through the merger of Hidroeléctrica Española and Iberduero, and traces its roots to Hidroeléctrica Ibérica, founded in Bilbao in 1901. José Ignacio Sánchez Galán has chaired the company since 2005. Wikipedia lists Pedro Azagra as chief executive, a post it says he took on 24 June 2025 after running Avangrid from 2022.
Acquisitions have driven its international growth: ScottishPower in 2006, Energy East in the United States in 2008, and in 2024 an agreement to buy the remaining 18.4 percent of Avangrid and an 88 percent stake in the British network operator Electricity North West. In 2023 it formed a partnership with Abu Dhabi's Masdar to develop the 476 MW Baltic Eagle offshore wind farm. Wikipedia reported the Qatar Investment Authority as its largest shareholder as of 2023. Multiverse Computing named Iberdrola as a customer in July 2026.
For 2025, press reports on 25 February 2026 gave net profit of EUR 6.285 billion, up 12 percent from EUR 5.612 billion, and adjusted net profit of EUR 6.231 billion. Revenue was EUR 45.5 billion and reported EBITDA EUR 16.6 billion. Total investment was EUR 14.46 billion, of which EUR 8.975 billion went to networks and EUR 5.26 billion to renewables; the figure includes the purchase of a 30 percent stake in Neoenergia. Iberdrola installed more than 2,700 MW of renewable capacity in twelve months, and had 4,679 MW under construction. Adjusted net debt was EUR 50.2 billion and the dividend from 2025 results was EUR 0.68 per share. The company targets a 2026 net profit above EUR 6.6 billion and above EUR 7.6 billion by 2028.
Leadership
- José Ignacio Sánchez Galán, Chairman