Iberdrola, S.A. (IBDSF) Q2 2023 Earnings Call Transcript

Iberdrola, S.A. (OTCPK:IBDSF) Q2 2023 Earnings Convention Name July 27, 2023 3:30 AM ET

Firm Members

Ignacio Arambarri – Investor Relations

Ignacio Galan – Government Chairman

Pepe Sainz – Chief Monetary Officer

Armando Martinez – Chief Government Officer

Gerardo Calatrava – Common Secretary

Convention Name Members

Ignacio Arambarri

[Foreign Language] Good morning, women and gents. To start with, we want to supply a heat welcome to all of you who’ve joined us as we speak for our 2023 First Half Outcomes Presentation.

As typical, we’ll comply with the normal format given in our displays. We’re going to start with an summary of the outcomes and the principle developments in the course of the interval, given by the highest govt group that normally is with us, Mr. Ignacio Galan, Government Chairman; Mr. Armando Martinez, CEO and at last, Mr. Pepe Sainz, CFO.

Following this, we’ll transfer on to the Q&A session. I might additionally like to focus on that we’re solely going to take questions submitted by way of the net, so please ask your query solely by means of our webpage www.iberdrola.com. Lastly, being conscious of the busy week of outcomes you’re having, we hope that as we speak’s occasion will final not more than 60 minutes hoping that this presentation can be helpful and informative for all of you.

Now, with out additional ado, I want to give the ground to Mr. Ignacio Galan. Thanks very a lot once more. Please Mr. Galan.

Ignacio Galan

Thanks, Ignacio, good morning everybody and thanks very a lot for becoming a member of the end result presentation. Within the first half of 2023, web revenue reached EUR2,521 million, up 21% or 28%, excluding a non-cash provision associated to Mexico transaction as Pepe will clarify afterward.

EBITDA grew 17% to EUR7,561 million, primarily pushed by larger funding in Networks and Renewables. The restoration of the retail deficit

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