Iberdrola becomes the world's second-largest electricity company in terms of stock market value

Iberdrola has become the world's second largest electricity company in terms of stock market value, exceeding 70 billion euros, behind only the U.S.-based NextEra, according to the close of trading on Friday.
 
The electricity company chaired by Ignacio Galán has managed to climb the podium in a week in which the main Spanish companies have presented their results.
 
The Basque company closed Friday with a market capitalization of 70,201 million euros, surpassing the American company Duke Energy, with which it competes very closely. NextEra, with 136 billion euros, is the world's leading electricity company.
 
In Europe, Iberdrola already led the ranking of companies with the highest capitalization, ahead of the Italian Enel, Endesa's parent company, and the French state-controlled EdF, which ended Friday's trading day with capitalizations of 53,212 million euros and 46,108 million euros, respectively.
 
The Spanish electricity company posted a net profit of 4.339 billion euros in 2022, up 11.6% from the previous year, in a year in which geographic diversification offset a 19% drop in profit in Spain, it informed the Spanish National Securities Market Commission (CNMV) on Wednesday.
 
 The company has made historical investments of 10.73 billion euros, up 13%, despite inflationary pressures and supply chain challenges.
 
With these figures, the company reported that it continues to "take firm steps" in its commitment to accelerate the energy transition to reduce dependence on fossil fuels, despite this being the sector that has benefited most from the crisis, according to recently released results.