Iberdrola Group Net Earnings Up 1.3% in 2012

Thu Feb 14, 2013 7:45am EST

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Increase driven by 35% rise in international profit
ROCHESTER, N.Y.,  Feb. 14, 2013  /PRNewswire/ --

* Group revenues rose 8.1%  
* Debt was reduced by nearly €1.4 billion  
* Operating cash flow rose 2.5%  
* Liquidity passes €12 billion - enough to meet needs for more than three years 

* Board maintains dividend of €0.3 per share

Here are some highlights from global energy leader Iberdrola (IBDRY:US) 2012
financial results reported today in  London. You may view the original Iberdrola
S.A. news release here:  http://bit.ly/YZzeGc  .

* 2012 Group revenues rose 8.1% to €34.2 billion, while gross margin increased
4.6% to €12.6 billion and operating cash flow rose 2.5% to €6.2 billion.  
* EBITDA increased 1% to €7.73 billion.  
* Net earnings rose 1.3% to €2.84 billion, driven by a 35% earnings growth in
international business.  
* Worldwide installed renewable generation capacity increased 2.5% to more than
14,000 megawatts.

Iberdrola continued to strengthen its balance sheet by selling €850 million (of
the €2 billion planned) of non-strategic assets, limiting capital investments to
€3.26 billion and reducing debt by €1.4 billion to €30.3 billion.  

US Networks
US networks business distributed 31,573 gigawatt hours of electricity to
customers in  Maine  and  New York  - a rise of 1.2% from 2011. US networks
EBITDA rose 20.5% to €660.2 million, helped by higher revenues and favourable
exchange rates.  

Operations highlights for the year include Central Maine Power (CMP) reaching
the half-way point in construction of the Maine Power Reliability Program, a 
$1.4 billion  upgrade to the New England transmission system. CMP also completed
the installation of 620,000 smart meters - one of the largest installs in  the
United States.  

Annual General Meeting and Dividend
The Board of Directors has set its Annual General Meeting for  Friday March 22.
The Board also declared a before tax dividend of approximately €0.3 per share.  

Due to its strong performance and strengthened balance sheet, the Company will
propose a 2.4% share buyback, consisting of the amortization of 1.4% of treasury
stock and repurchase of another 1%. 

About Iberdrola  USA:  Iberdrola  USA, a subsidiary of global energy leader
Iberdrola, S.A., is the parent company of Central Maine Power, Maine Natural
Gas, NYSEG and RG&E which together deliver energy to 2.7 million customers
throughout upstate  New York  and New England. For more information about
Iberdrola  USA, visit  www.iberdrolausa.com.

SOURCE  Iberdrola  USA

Dan Hucko, +1-585-724-8825, Daniel.Hucko@IberdrolaUSA.com

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