BILBAO (dpa-AFX) - Iberdrola SA (IBDSF.PK), a Spanish renewable energy
company, on Wednesday registered an increase in net profit for the
first-quarter. In addition, the firm has revised up its annual earnings outlook.

Ignacio Galan, Executive Chairman of Iberdrola, said: 'The first quarter has
seen strong operating performance in all markets, with greater contribution from
our increased networks asset base and improved renewables production. Our record
investment levels in the first quarter will drive a total spend of ¤12 billion
euros this year.'

For the three-month period, the company posted a net profit of 2.76 billion
euros, higher than 1.49 billion euros, reported for the same period last year.

EBITDA increased to 5.86 billion euros from previous year's 4.07 billion euros.

Looking ahead, for the full year, the company now projects high-single-digit net
profit growth compared with its earlier projection of a growth between 5 percent
and 7 percent.



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