2024-08-22 16:17:51
Las the actions of Iberdrola has climbed this Thursday to a new all-time high on the stock market, after registering a rise of 0.48% in the session and close at a price of 12.6 euros per share, which leads the energy company to pass for the first time a capitalization of 80,000 million euros at the end of a business day.
The title of the association chaired by Ignacio Sánchez Galán continues today with the highest stock market cycle in which they have been immersed since the end of July, when the company presented the profits of 4.134 million euros in the first half of the year64% more than in the same period of 2023, and pointed to receive profits for the whole of 2024, and those who have taken it to put a rise since the last July 24 of more than 5% in stocks Market, also driven for contracts for the acquisition of the British North West Electricity (NAME) reaching the beginning of March.
12.60 euros per share won at the end of the trading session of the market thus allowing the energy company to register a new maximum at the end of a day, after the 12.55 euros reached at the end of last Monday.
With a capitalization of more than 80.190 million eurosIberdrola consolidates itself as the most valuable company in the sector in Europe and one of the three largest in the world and has a greater value than all energy companies on Ibex combined.
On August 2, Iberdrola agreed to buy ENW for a total of 5,000 million euros -with debt-. The results presented at the end of the first half of the year have also contributed to this good performance. In addition, the company expects its recurring net profit to grow at a double-digit rate – 10% or more – this year, compared to the high-digit growth forecast in the first quarter.
Similarly, the purchase of ENW allowed the company make the United Kingdom your first country by network asset base with about 14 billion euros, followed by the United States with 13.3 billion euros.
Analyst approval
This operation is accepted cooperation from analysts. Therefore, Goldman Sachs noted that “the transaction is positive for the value of the sector, given the price discount found in the legal networks of the United Kingdom”, while Exane BNP Paribas indicated that “the operation was carried out have the right understanding. and is in perfect strategic alignment with the possible benefits that come from synergies.
“These companies have been behaving well in recent months, the maximum in capitalization comes to confirm the confidence of investors. “Despite the turmoil that the energy sector has suffered, Iberdrola has managed to be close to maximum levels; a large part of this situation is due to a change in the strategy regarding its investments,” he pointed out. Joaquin RoblesMarket Analyst.
Robles also pointed out that the increase in interest rates and the fall in energy prices “have caused investment in renewables to be limited to projects that have already started or the most profitable ones. Most of the investment is now allocated to electronic networks, which are more representative. stable and predictable income. Until 2026, 60% of its spending will go to networks and after its departure in Mexico it looks to grow in consolidated markets such as the United States or the United Kingdom“.
The purchase of ENW has also received the approval of three major branding agencies -Standard & poor (S&P), Moody’s y Fitch-, which notes that ENW will increase the quality of the results of the European electricity industry through the value of the market, thanks to the increase in the contribution of its legal businesses.
In this regard, S&P predicts that ENW will contribute 500 million annually to the total operating result (Ebitda). of Iberdrola, in which strategic activities will account for around 50%, compared to the current 47-48%.
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