FILE PICTURE. The logo of the Spanish company Iberdrola at its headquarters in Bilbao, Spain. October 25, 2022. REUTERS/Vincent West

MADRID, Feb 22 (Reuters) – Europe’s biggest utility, Iberdrola, said on Wednesday it expects net profit to rise 8-10% this year from 2022, although if the new extraordinary tax in Spain, the growth rate would be around 5%.

The company made a net profit of 4,340 million euros ($4,630 million) in 2022, representing an 11.7% year-on-year increase that it said was driven by the good international behavior.

Iberdrola chairman Ignacio Sánchez Galán attributed last year’s “stable growth” to geographic diversification, as the impact of the European energy crisis was offset by other markets, mainly the United States. and Brazil.

(1 dollar = 0.9383 euros)

(Reporting by David Latona; Spanish edition by Flora Gómez)

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