Iberdrola, Europe’s largest utility, raised its 2026 adjusted net profit growth forecast to at least 10%. It marked the company’s second upward revision this year.
Net profit rose 10% in the first nine months of the year. It totaled €5.8 billion, driven by strong performance in Iberdrola’s electricity networks business.
The company cited significant investment in its networks, particularly in the UK, US and Brazil. It also set a target of average annual adjusted net profit growth of 10% over the next five years.
Iberdrola’s strategy focuses on expanding its regulated asset base and selectively developing renewable energy projects.