The company chaired by Galán disputes the leadership in the stock market with Inditex
June is usually the month of exams in the classrooms. Iberdrola will also hold its general meeting of shareholders this Friday, June 17, the trial of the more than 600,000 shareholders of the Basque company. to the appointment, Ignacio Sánchez Galán, the president of the company, has an “overwhelming” balance, they point out from the group. Under his mandate, the electric has multiplied by six its value in the bagaround 70,000 million euros, placing it as the first company in the sector in Europe.
Although the turbulence of World economythe ukrainian war and “the small battles in which the Government and the energy companies get involved”, the level of loyalty of the shareholders of this company is much higher than the loyalty of the voters, the same sources underline. In fact, 70% of the company’s minority shareholders have held their titles for more than 20 years, “an unusual fidelity in other spheres of life,” they say.
business ambassadors
The two great headers of the Ibex, Inditex and Iberdrola, are undoubtedly the main business ambassadors of Spain in the world. Iberdrola exhibits international leadership. Two days before the general meeting, on June 15, World Wind Day was celebrated and Iberdrola took the opportunity to recall that it is the world’s leading player in wind energy production, with 15,000 wind turbines spread over 14 countries and an installed capacity of nearly 21,000 megawatts.
At its annual convention, Iberdrola will explain how it has met its objectives despite the adversity. The drop in profits in Spain has been clearly offset by the success of the business in Brazil and the United States. Now, the company’s new windows of opportunity focus on Australia and Japan.
Only 30% in Spain
Little remains in Iberdrola of that century-old Spanish hydroelectric plant with a half-Castilian, half-Basque cradle. Today, only 30% of its business is limited to Spain, remember the group. Its main market share is outside our borders.
The Stock market data is one more indicator of “the entity’s good health, resilient in adversityand its promising future based fundamentally on the energy transition and its global vanguard in green energy generation”.
The invasion of Ukraine, in addition to the global scandal, has served to highlight the need for an essential horizon of self-sufficiency and this through a decarbonized economy. “The much vaunted energy self-sufficiency. It is the purpose that the company and its president have engraved on fire,” they underline at Iberdrola.
In this context of the global energy crisis and with the diplomatic crisis with Algeria in the background, Iberdrola faces a new meeting at the general shareholders’ meeting. Galán will go to it with “homework done”, as he already announced from the World Economic Forum in Davos, and with a clear vocation for international expansion.
Last week it already announced the change in its subsidiary Avangrid, in the United States to, from the outset, observe an investment of 6,000 million euros over the next three years in the State of New York. Also this week, Iberdrola’s subsidiary from Rio de Janeiro, Neoenergía, made its debut at the Palacio de la Bolsa in Madrid, seeking European investors for the prosperous Brazilian adventure.
Galán arrives in Bilbao with broad support from the market and with the blessing of the main consultants that guide the vote of the shareholders, which will not prevent their trail of power from also generating a response, “sometimes more explicit and sometimes covert, from their competitors both in the field of business and politics”, they advance from the company.
100% green
The direction of the company is examined this week with llooking at a horizon of growth where it is powerful: in 100% green energy. Iberdrola’s renewable assets are the jewel in the energy company’s crown, with an installed capacity of nearly 40,000 megawatts (MW) and with
To achieve this, in the coming years it will continue its investments in more renewables, networks, storage and in the development of green hydrogen around the world. The plan foresees an investment scenario of 75,000 million euros until that date.
That international vocation of Iberdrola is light years away from that company “that many still perceive exclusively as the inconvenient collector of the monthly electricity bill”, they underline from the group. A dwarfed look in the eyes of thousands and thousands of shareholders who have remained faithful to the future of Iberdrola, as a solid guarantor of their savings, they add.