NEW GLOUCESTER, Maine, March 28,
2014 /PRNewswire/ -- Today, Iberdrola (IBDRY:US) chairman
Ignacio Galan addressed attendees at
the Group's Annual General Meeting (AGM) and reiterated the
important role the Company plays as an engine for economic growth
in countries where it operates. Galan highlighted the projected
rate of capital investment, estimated at €9.6 billion ($12.5 billion USD) between 2014-2016, as well as
the secondary benefits of corporate purchasing, tax payments, and
job creation. As examples he cited €4.4 billion ($5.8 billion USD) in corporate purchases and €5.4
billion ($7.2 billion USD) in tax
payments worldwide in 2013.
In the U.S. last year, Iberdrola invested some $800 million in infrastructure improvements,
purchased more than $1.2 billion in
goods and services, and created thousands of supply chain jobs.
Galan reminded investors of the importance of the U.S. market,
where Iberdrola's networks businesses deliver electricity and
natural gas to more than 2.4 million customers and its renewables
group is the country's second-largest wind producer with 5,500
megawatts of capacity, which represents 10 percent of the U.S.
total wind generation capacity.
Galan said the Company will continue to execute its business
strategy of investing internationally in regulated businesses in
2014 despite a drop of 7% in net profit last year, while keeping
spending flat to increase operating efficiency and reducing its
debt to further strengthen its balance sheet. In 2013, the Company
reduced its net debt by €2.3 billion ($3.1
billion USD).
Around the world, Iberdrola directly employs more than 33,000
people, including more than 5,000 in the U.S. It is estimated that
the economic impact of the Group's business activities generate
nearly 150,000 additional jobs through direct and indirect
employment across the globe. In 2013, the Iberdrola companies hired
2,200 people, half of whom were under 30, and it hires around 1,200
interns each year as well.
"Without a doubt, our human capital is our main asset," Galan
said. "Last year we increased training to a total of 1.2 million
hours and involved nearly 90% of our workforce."
Through the Iberdrola Foundation, the company also reaches
beyond its current workforce. In 2013, the Foundation awarded
seventy scholarships worldwide for post-graduate studies, including
more than $300,000 awarded by the
Iberdrola USA Foundation for
energy and environment postgraduate students in Maine and New
York. This year, the Foundations expect to provide more than
one hundred scholarships in Spain,
the United Kingdom, and
the United States.
Galan also stressed the scientific research, technological
development, and innovation that are essential elements of the
Group's strategy. He noted that the Company designated nearly €160
million ($212 million USD) for
R&D efforts related to smart grids, clean energy generation,
and new technologies.
Galan stated that investors evidently agree with the company's
long-term strategy since Iberdrola shares had appreciated 10.5% in
2013, surpassing performance of the Eurostoxx Utilities index and
most of Iberdrola's European peers.
Galan repeated the Group's strong commitment to preserve the
environment, reporting that in 2013 Iberdrola increased its
emission-free generation to more than 60% of its total. This led to
the elimination of nearly 20 million tons of CO2, making the
Company's emissions 30% lower than its European electricity
peers.
He also noted with pride that Iberdrola was named as one of the
most ethical companies in the world, according to the 2014 World's
Most Ethical Company ranking drawn up by the Ethisphere Institute,
which acknowledges organisations that are committed to ethical
leadership and behaviour at a corporate level.
Iberdrola is the only Spanish enterprise to have achieved this
award in 2014.
Finally, Galan paid tribute to the efforts of "all the men and
women who work for Iberdrola around the world," including the
management team, union representatives and the Board of Directors
"without whose commitment we would not be able to present the
results we are submitting to the AGM today."
Visit Iberdrola's website to view the complete 2013 results
report:
https://www.iberdrola.es/webibd/gc/prod/en/doc/folleto_13.pdf
NOTE
All financial results herein were calculated
using international financial reporting standards (IFRS) and
converted to Euros where appropriate. 2013
Euro to USD average conversion rate: €1 = $1.328.
Iberdrola USA is the
U.S. subsidiary of global energy leader Iberdrola, S.A. The
Iberdrola USA companies employ
about 5,000 people with operations in 24 states from New England to
the West Coast, providing electricity generation, transmission and
distribution, natural gas storage and distribution, and energy
services. For more information, please visit our website:
www.iberdrolausa.com. Follow us on Twitter: @IberdrolaUSA
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SOURCE Iberdrola USA