Headline: Iberdrola Amplifies Profits by 50% with Strategic Moves in the US and UK

Iberdrola, Europe's largest energy company, reported a significant increase in net profit for the first nine months of the year, with a 50% rise. This result indicates that the company's strategy focusing on the US and UK is paying off. The Spanish energy giant's net profit rose to 5.47 billion euros from 3.64 billion euros in the same period last year.

CEO Ignacio Sanchez Galan highlighted the impact of the company's strategic investments, stating: "Our ongoing significant investment thrust is delivering new renewable energy projects and regulated assets. The contribution of our increased offshore wind capacity to the results demonstrates why investment in this technology is a key component of our strategic plan."

Iberdrola has prioritized offshore wind projects by adopting a more selective approach to renewable energy while directing efforts towards the development of power grids. This shift was reflected in the company's earnings before interest, tax, depreciation, and amortization, which rose by 23% to 13.27 billion euros.

The company’s performance was particularly bolstered by its operations in the UK and the US, central to its success. This positive trend led Iberdrola to raise its year-end expectations over the past two quarters.

Looking ahead, Iberdrola forecasts a 14% increase in net profit for the current year. This growth aligns with the increase in the interim dividend, now set at 0.23 euros per share. The exchange rate used in the report is 1 USD = 0.9255 euros.