News
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27/04/2017Iberdrola takes the next edition of the ‘Women, Health and Sport’ Tour to Burgos On 6 and 7 May, Burgos will be hosting the fifth edition of the ‘Women, Health and Sport’ Tour, which Iberdrola is promoting in several provincial capitals to enhance the role and presence of women in the sporting world. The event is intended to promote an image of women as an active and essential part of sport in Spain. The programme of activities for the forthcoming edition was announced during the Tour's presentation by the Mayor of Burgos, Javier Lacalle, alongside the Women's Universe programme ambassador and Iberdrola collaborator, Jennifer Pareja, and the CEO of OéOé Marketing, Ignacio Solano. For two days, the top names in women’s sport will be meeting in Burgos. The next stop on this sporting road show will see the participation of Jennifer Pareja, the world's best water polo player in 2013 and Women's Universe ambassador; Carolina Rodríguez, the Spanish gymnast with most national medals and winner of the Olympic diploma in Rio 2016; Saioa Jaurena, a player on the Rugby XV team; and Marina Damlaimcourt, Olympic triathlete in London 2012. They will be joined by the Castellae Water Polo Club and the Aparejadores Rugby Burgos Sports Club, as well as a host of other Olympic medallists and top athletes. The Tour will happen at the Plaza Mayor square in Burgos, an big outdoor space in the centre of the city that will have more than 2,500 m2 set aside for sports and leisure activities related to the ten federations backed by Iberdrola: football, badminton, handball, volleyball, rugby, triathlon, canoeing, gymnastics, swimming and hockey. The area is designed for all members of the public to enjoy. The event will include group classes, talks on sport and a healthy lifestyle, as well as games for the kids. On Saturday, the event will be open from 12pm to 8pm, and on Sunday from 11am to 3pm. Iberdrola, the main driving force behind the Women's Universe programme The ‘Women, Health, and Sport’ Tour is part of the Higher Council for Sport (Consejo Superior de Deportes, CSD) ‘Women's Universe’ programme, where Iberdrola has been the main driver since July 2016. This is the first company in Spain to make a global commitment to promoting the participation of women in every area of sport. Under the agreement with Spain’s Higher Council for Sport (CSD), the company supports various sports federations, including gymnastics, swimming, football, triathlon, badminton, canoeing, and hockey, and more may be added in the future. These sports were selected on account of the extraordinary level of success they've achieved, their high participation rate, the existence of schemes to promote the sport at grass-roots level, and other social projects. Iberdrola is also one of the leading sponsors of the Spanish Paralympic Team and the Paralympic Sailing Team. It has been involved in the Paralympic Sport Support Plan (ADOP) since it was launched in 2005, and backed the Spanish Paralympic Team at the Beijing 2008, London 2012, and Rio de Janeiro 2016 Games. In 2013 the group’s contribution to Paralympic sport was recognised by the Higher Council for Sport (CSD) with its Olimpia Award. READ MORE
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26/04/2017Iberdrola posts first quarter net profit of €828 million Iberdrola posted net profit of €827.6 million in the first quarter of 2017, (4.7% down on the same period last year). Net operating profit (Ebitda) attained €1.86 billion (-8.2%). The company expects to offset lower figures reported in the first quarter as the year progresses, in line with estimates. In particular, Ebitda was supported by the networks business performance whose contribution rose by 9.1% to €1.02 billion, benefiting from US operations. Balance sheet was affected by lower rain and wind resource during the quarter, by increased taxes in Spain and the poor performance of liberalised business in the UK. Iberdrola continued making progress towards delivering its 2016-2020 Outlook. Throughout the quarter, investment grew by 13.4% to €1.02 billion. Of that amount, 93% was allocated to renewables (46%), networks (37%) and contracted generation (10%). As a result of its investment strength, the company plans to commission a total 2,011 megawatts (MW) in renewables and regulated generation in 2017. Also, the group currently has a project pipeline of 6,500 MW scheduled to be commissioned by 2020, out of which 3,527 MW are contracted generation; 1,546 MW onshore wind power; 1,064 MW offshore wind, and 336 MW photovoltaic solar projects. The main business highlights between January and March include: in networks, progress on the subsea cable between Wales and Scotland; and, in the renewables area, installation of all jackets plus 12 turbines at Wikinger offshore wind farm and commissioning of new onshore wind facilities in the UK, US and Brazil. In the contracted generation business, Baja California III CCGT plant was commissioned and the company was awarded the Topolobambo III combined-cycle plant, which will see Iberdrola’s installed capacity in Mexico jump to 10,000 MW by 2020. One of the highlights of the period was good performance at NYSE-listed US affiliate AVANGRID, of which the company owns an 81.5% stake, with net profit at $239 million, up by 13%. Positive stock market performance in the past twelve months brings total shareholder remuneration to 17%, doubling the appreciation of S&P 500 Utilities benchmark Gross margin was €3.566 billion (-2.3%), with revenue rising 1.3% to €8.29 billion However, production costs have risen, subsequently increasing provisions. Levies and taxes were also higher (+10.5%), at €763.9 million, mainly as a result of higher generating taxation in Spain linked to higher energy retail prices, and increased nuclear output. Funds from operations stood at €1.65 billion (-2.4%), rising above total investment figures. Results by business The networks business performed well in the first quarter of 2017, with Ebitda of €1.02 billion, up 9.1% year on year. It was supported by progress at US businesses (up 46.9% to $335.4 million) and in Brazil (up 6.7% to R$235.8 million). Lower rain and higher taxation in Spain as well as poorer operating performance in the UK resulted in an Ebitda for generation and retail of €436.3 million, 32% down year on year. Iberdrola expects the business to recover as the year progresses. Nevertheless, quarterly Ebitda for generation under long-term contract in Mexico rose 25.4% to US$141.9 million. Renewables Ebitda was €434 million (-5%). The first three months of the year have seen reduced wind availability in Spain, which makes for 34% of overall figures. However, business progressed well in the UK, US and Latin America, where renewables Ebitda rose 7.2%, 2.8% and 18.9% respectively, vis-à-vis an exceptional 2016. Iberdrola confirms 2017 outlook Business performance expected for the rest of the year allows the group to confirm growth outlook for the group with improved operating results in the networks, renewables and contracted generation areas. To make this forecast, Iberdrola has taken into account a range of positive impact which will materialise over the coming months: * Networks: tariff review in the US and in Brazil for Neoenergia’s Coelba, Cosern and Celpe affiliates – where Iberdrola holds a 39% stake. * Renewables: over the upcoming quarters some 1,400 MW of new capacity will be commissioned and wind conditions are expected to normalise. * Contracted Generation (Mexico): the Federal Electricity Commission (CFE) has revised tariffs and Iberdrola will install a further 129 MW. * Generation and Retail: both output alongside results from the UK energy retail business are expected to rebalance compared to 2016. * Additional measures: best practices will be implemented in the US, known as Forward 2020 plan, and improved efficiency in the UK. Shareholder remuneration Yesterday, the Board of Directors approved a new edition of Iberdrola Flexible Dividend programme beginning in July, following the decision at the General Shareholders Meeting held in Bilbao on 31 March. In this instance, shareholder remuneration will amount to, at least, €0.145 gross per share for shareholders opting to sell their allocation rights to the company – up 16.9% on July 2016 – in addition to €0.03 gross per share to be paid in cash. All in all, shareholder remuneration will reach €0.175 gross per share. If the €0.135 gross per share paid last February is added, total shareholder remuneration against 2016 earnings stands at €0.31 gross per share, up nearly 11% year on year. The company is implementing its treasury buy-back scheme for subsequent amortisation, so that the number of shares in the company remains at 6,240 million, thus avoiding dilution derived from the Iberdrola Flexible Dividend programme. Also, Iberdrola is analysing a new remuneration programme to be enacted if approved by the General Shareholders Meeting. This new Iberdrola Flexible Dividend will continue to offer a choice between receiving new group shares free of charge or payment in cash. Under the second option, Iberdrola shareholders are entitled to sell their free subscription rights on the market or receive a cash dividend, in lieu of selling their rights to the company at a fixed, guaranteed price. READ MORE
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25/04/2017Iberdrola y la Real Federación Española de Gimnasia presentan el Circuito Iberdrola Iberdrola y la Real Federación Española de Gimnasia han presentado hoy el Circuito Iberdrola durante un evento celebrado en la sede del Consejo Superior de Deportes en Madrid. En este campeonato, que arrancará el 13 de mayo, se enfrentarán los ocho mejores clubes femeninos de gimnasia rítmica de cada comunidad autónoma. La responsable de Patrocinios de Iberdrola, Carmen Cabrera, la subdirectora general de Mujer y Deporte del Consejo Superior de Deportes, Susana Pérez-Amor, el presidente de la Real Federación Española de Gimnasia, Jesús Carballo, y la gimnasta del conjunto nacional y medalla de plata en Río 2016, Alejandra Quereda, han dado a conocer esta competición. Gracias a este nuevo circuito, impulsado por Iberdrola, se abre la posibilidad de que gimnastas que no pueden participar en campeonatos nacionales puedan hacerlo en una competición por clubes. El Circuito Iberdrola tiene como objetivo la creación de una competición en la que participen los clubes del territorio nacional en distintas fases clasificatorias, con una fase final de la que saldrá el mejor club de España. Con su puesta en marcha se pretende dar una mayor difusión de esta disciplina en los medios de comunicación y que, con ello, se incremente el número de participantes en este deporte. La deportista leonesa Carolina Rodríguez, diploma olímpico en Río y gimnasta con más títulos nacionales, es la embajadora del Circuito Iberdrola, empresa con la que colabora a través de la iniciativa Universo Mujer. ¿Cómo funciona el Circuito Iberdrola? El Circuito Iberdrola consta de tres fases: dos clasificatorias y una final. Pueden participar clubes y gimnastas con licencia federativa en vigor y que entrenen en territorio nacional. Cada club puede presentar un equipo de tres a seis gimnastas, de cualquier edad y categoría, incluidas las categorías ‘open’ y ‘de honor’. En el circuito se participará de manera individual y habrá una única categoría, en la que el contenido de los ejercicios corresponderá al programa técnico de la categoría sénior absoluto, del código de la Federación Internacional de Gimnasia. Para ello, cada club deberá realizar seis ejercicios en cada fase: manos libres, aro, cuerda, pelota, mazas y cinta. La nota final obtenida por cada club será la suma de las cuatro mejores notas de los aparatos más la nota de manos libres. De modo que cada gimnasta participará como máximo en seis ejercicios entre las tres fases, pudiendo cambiar de aparato, o no participar en alguna fase. En la primera fase, el territorio nacional se dividirá en seis zonas, pudiendo cada comunidad participar con un máximo de ocho clubes, salvo Ceuta y Melilla, con un máximo de cuatro, y siendo responsabilidad de cada federación autonómica la elección de los mismos: * Zona 1: Galicia, Asturias y Castilla y León. * Zona 2: Cantabria, País Vasco y Navarra. * Zona 3: Cataluña, Aragón y La Rioja. * Zona 4: Comunidad Valenciana, Murcia y Baleares. * Zona 5: Andalucía, Extremadura y ciudades de Ceuta y Melilla. * Zona 6: Castilla la Mancha, Madrid y Canarias. Los diez clubes mejor clasificados de cada zona pasarán a la segunda fase, pudiendo añadirse algún representante más si alguna comunidad no está representada, que será el club mejor clasificado de la misma. En la segunda fase, el territorio nacional se dividirá en dos zonas: * Zona A: con los equipos clasificados de las zonas 1, 2 y 3. * Zona B: con los equipos clasificados de las zonas 4, 5 y 6. Para la fase final se clasificarán los diez clubes de la zona que hayan obtenido mayor puntuación sumando ambas fases. En la fase final, se proclamará campeón el club que tenga mayor número de puntos en la suma de las tres fases. Iberdrola, impulsor principal de ‘Mujer, Salud y Deporte’ En virtud del acuerdo con el CSD, Iberdrola apoya a varias federaciones deportivas, entre las que se encuentran gimnasia, natación, fútbol, triatlón, bádminton, piragüismo, rugby, balonmano, voleibol y hockey, a las que se podrían añadir otras en el futuro. Estas disciplinas se han seleccionado por su extraordinario palmarés, el alto nivel de participación, la existencia de programas de fomento del deporte desde la base y otros proyectos sociales. Además, el CSD e Iberdrola llevan a cabo desde marzo el denominado ‘Tour Mujer, Salud y Deporte’, que consiste en una gira por varias capitales de provincia -Palma de Mallorca, Bilbao, Málaga y Burgos, entre otras- para impulsar el deporte femenino. En concreto, se instalará un espacio abierto durante un fin de semana en cada localidad, donde se realizarán actividades deportivas y lúdicas. Iberdrola es también uno de los principales patrocinadores del Equipo Paralímpico Español y del Equipo Paralímpico de Vela, forma parte del Plan ADOP desde su creación, en 2005, y ha respaldado al Equipo Paralímpico Español en los Juegos de Pekín 2008, Londres 2012 y Río de Janeiro 2016. La contribución del grupo al deporte paralímpico ha sido reconocida en 2013 con el Premio Olimpia del Consejo Superior de Deportes. READ MORE
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24/04/2017Iberdrola awarded best corporate governance (Spain) Iberdrola has been awarded Best Corporate Governance (Spain) by prestigious publication World Finance, in recognition for its transparent financial information and good governance practices, drawing attention to the by-law reform carried out by the group to include commitment to social dividend and the company’s mission, vision and values. Ignacio Galán, Chairman and CEO, speaking to World Finance said: “Iberdrola’s business model, based on ethics and transparency, long-term vision and the integration of cultures and people, has allowed the company to create economic benefits for all of its stakeholders. “A shift towards sustainably sourced energy is no longer an aspiration but a necessity for society at large,” highlighted Galán under whose leadership Iberdrola led the transition to a low-carbon economy through investments in networks and clean energy sources exceeding €100 billion since the year 2000. Also, the magazine says, the company continues to generate wealth through its social dividend paid to communities in the form of 288,000 stable and quality jobs created worldwide; purchases of €10 billion from 18,000 vendors across the entire supply chain; annual tax contributions of €5.8 billion; €211 million devoted to research and technological innovation, and its commitment to gender equality and fostering culture and the arts in the regions where it operates. According to World Finance, in 2017, companies face continued global political uncertainty derived from new scenarios. Boards will therefore have to play a more active role in risk mitigation and planning as a means to reduce climbing costs and looming threats while adopting a long-term strategy for value creation which includes stakeholders’ demands for social, commercial and environmental justice. The World Finance Corporate Governance Awards 2017 provide insight into these shifting expectations, while also celebrating the organisations that have made their boards more diverse and dynamic by placing long-term strategies in favour of short-term, results-driven plans. The recipients of this year’s Corporate Governance Awards have not only made their companies more transparent and better positioned to handle risk, particularly impacts of climate change on their business activities, they are also drivers of excellent environmental, social and governance policies in the world of corporate governance. In this sense, World Finance points out that Iberdrola is committed to becoming carbon neutral by 2050, having made important progress thanks to a solid strategy. Its emissions have fallen by 31% in the last five years and by 75% since 2000. Today, it is the European utility with the lowest emissions, some 67% lower than peer average. For the publication, “an international Board of Directors, where women have an enhanced presence, has allowed Iberdrola to be perfectly equipped to meet the industry and economic challenges of a complex and changing environment.” Corporate governance benchmark Iberdrola continues its work to become a benchmark in corporate governance. The company follows international best practices and the Good Governance Code recommendations set out by the National Securities Market Commission (CNMV). In addition, a few weeks ago Iberdrola’s General Shareholders Meeting approved a new reform of its Corporate Governance System, aimed at incorporating into its by-laws the commitment to the social dividend and the company’s mission, vision and values. Iberdrola was the first listed company to publish a report on the activities of the Board and its committees, detailing key topics discussed during 2016. Furthermore, in terms of gender representation on corporate boards, the company’s percentage is twice the average of Ibex 35 blue chip index companies, with all of its advisory committees being chaired by women and a female board coordinator. All of this has led Iberdrola to be recognised by the Ethisphere Institute as one of the world's most ethical companies for the fourth consecutive year, the only Spanish company to be distinguished by this institution. Previously, Iberdrola was acknowledged by World Finance back in 2012, 2014, 2015 and 2016 as having Spain’s best corporate governance practices. http://www.worldfinance.com/supplements/iberdrola-2017 READ MORE
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23/04/2017Malaga successfully hosts the fourth edition of Iberdrola’s ‘Women, Health and Sport’ Tour, organised by Iberdrola This weekend, Malaga played host to the fourth edition of the ‘Women, Health and Sport’ Tour, which Iberdrola is promoting in several provincial capitals to enhance the role and presence of women in the sporting world. The event is intended to show women as an active and essential part of sport in Spain. The Iberdrola sponsorship manager, Carmen Cabrera, the city’s mayor, Francisco de la Torre, and the councillor for Youth and Sport, Elisa Pérez de Siles, opened this women’s sports event, which was held at the same time as the fifth edition of the ‘Women against Cancer’ race. Thousands of people of all ages were able to enjoy this sports festival. Among those taking part were Jennifer Pareja, 2013 water polo world champion and ambassador for ‘Women’s Universe’, María Pujol, Spanish middle distance triathlon champion, and María del Carmen Barea Cobos, former field hockey player and gold medallist at the Barcelona Olympic Games in 1992, who is from Malaga, as well as many other elite sportswomen and local teams. An open-air 4,000 m2 space was set aside for sports and leisure activities at the centrally located Plaza de la Marina, the largest area to date, with fun sporting activities related to the ten federations backed by Iberdrola: football, badminton, handball, volleyball, rugby, triathlon, canoeing, gymnastics, swimming, and hockey. The area was designed for all comers, with numerous group classes, talks on sport and healthy lifestyles and games for the kids. Iberdrola, the main driving force behind the Women's Universe programme The ‘Women, Health, and Sport’ Tour is part of the Higher Council for Sport's (Consejo Superior de Deportes, CSD) ‘Women's Universe’ programme, of which Iberdrola has been the mainstay since last July. It is the first company in Spain to make a global commitment to promoting the participation of women in every area of sport. Under the agreement with Spain’s Higher Council for Sport (CSD), the company supports various sports federations, including gymnastics, swimming, football, triathlon, badminton, canoeing, and hockey, plus other possible additions in the future. These sports were selected on account of the extraordinary level of success achieved, the high participation rate, the existence of schemes to promote the sport at grass-roots level, and other social projects. Iberdrola is also one of the leading sponsors of the Spanish Paralympic Team and the Paralympic Sailing Team. It has been involved in the ADOP Plan since it was launched in 2005, and backed the Spanish Paralympic Team at the Beijing 2008, London 2012, and Rio de Janeiro 2016 Games. The group’s contribution to Paralympic sport was acknowledged in 2013 with the Olympia Award from the Higher Council for Sport (CSD). READ MORE
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06/04/2017Iberdrola celebrará en Málaga la cuarta edición del Tour ‘Mujer, Salud y Deporte’ Málaga se convertirá los días 22 y 23 de abril en la sede de la cuarta edición del Tour ‘Mujer, Salud y Deporte’, una gira que promueve Iberdrola por varias capitales de provincia para fomentar el papel y presencia de la mujer en el mundo deportivo. Este formato pretende acercar a la sociedad la imagen que tiene la mujer como parte activa y fundamental del deporte en España. Durante la presentación del Tour, el alcalde de Málaga, Francisco de la Torre; la responsable de patrocinios de Iberdrola, Carmen Cabrera; la embajadora del programa ‘Universo Mujer’, Jennifer Pareja; la concejala del área de Juventud y Deporte del Ayuntamiento de Málaga, Elisa Pérez de Siles; el concejal de Derechos Sociales de la ciudad, Julio Andrade; y el director de OéOé Marketing, Ignacio Solana; han explicado el programa de actividades de esta edición, que se celebra coincidiendo con la carrera ‘Mujeres contra el cáncer’. Durante dos días, los grandes nombres del deporte femenino se darán cita en Málaga. Jennifer Pareja, mejor jugadora del mundo de waterpolo en 2013 y embajadora de ‘Universo Mujer’, y María Pujol, campeona de España de triatlón media distancia, así como numerosas medallistas olímpicas y deportistas de élite participarán en la siguiente parada de este roadshow deportivo. El Tour se instalará en el Parque de la Marina, un espacio abierto ubicado en el centro de la ciudad, y contará con una superficie de más de 4.000 m2 , donde se podrán realizar actividades deportivas y lúdicas relacionadas con las diez federaciones que respalda Iberdrola: fútbol, bádminton, balonmano, voleibol, rugby, triatlón, piragüismo, gimnasia, natación y hockey. El espacio está pensado para el disfrute de todo tipo de público. Habrá clases colectivas, charlas sobre deporte y hábitos de vida saludable y juegos para los más pequeños. El sábado el horario será de 12.00 a 20.00 horas, y el domingo, de 11.00 a 15.00 horas. Iberdrola, impulsor principal del programa ‘Universo Mujer’ El Tour ‘Mujer, Salud y Deporte’ se enmarca dentro del programa ‘Universo Mujer’ del Consejo Superior de Deportes (CSD), del que Iberdrola es el principal impulsor desde julio de 2016. Se trata de la primera empresa en España que realiza una apuesta global por fomentar la participación de las mujeres en todos los ámbitos del deporte. En virtud del acuerdo con el CSD, la compañía apoya a varias federaciones deportivas, entre las que se encuentran gimnasia, natación, fútbol, triatlón, bádminton, piragüismo, rugby, balonmano, voleibol y hockey, a las que se podrían añadir otras en el futuro. Estas disciplinas se han seleccionado por su extraordinario palmarés, el alto nivel de participación, la existencia de programas de fomento del deporte desde la base y otros proyectos sociales. Iberdrola es también uno de los principales patrocinadores del Equipo Paralímpico Español y del Equipo Paralímpico de Vela, forma parte del Plan ADOP desde su creación, en 2005, y ha respaldado al Equipo Paralímpico Español en los Juegos de Pekín 2008, Londres 2012 y Río de Janeiro 2016. La contribución del grupo al deporte paralímpico fue reconocida en 2013 con el Premio Olimpia del Consejo Superior de Deportes. READ MORE
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05/04/2017The church of the Royal Monastery of Santa María de El Paular shows off its new decorative lighting This evening, the Ministry of Education, Culture and Sport’s Director General for Fine Arts and Cultural Heritage, Luis Lafuente Batanero, and the chairman of Fundación Iberdrola España, Manuel Marín, will be officially switching on the new ornamental lighting in the church of the Royal Monastery of Santa María de El Paular, in Rascafría (Madrid). Also taking part in the event will be the prior of the monastery, Miguel Muñoz, and the president of the Association of Friends of El Paular, Antonio Más Guindal. The renovation project was made possible by a cooperation agreement between Fundación Iberdrola España and the Directorate General of Fine Arts and Cultural Heritage signed in March 2016. Its goal was to draw up and execute a decorative lighting project for the church that was in keeping with the needs and importance of its cultural assets. The work, which started at the beginning of 2017, makes use of the most advanced LED technology, paying close attention to the installation’s sustainability and energy savings, which will reduce consumption by 74% compared to the previous equipment. Also, from an environmental point of view, this greater energy efficiency reduces CO2 emissions by 2.1 tonnes annually. The altarpiece: a scene-by-scene lighting system The new system helps to highlight the most valuable piece in the monumental complex: the magnificent multicoloured alabaster altarpiece, created for the monastery by artists from the school of Juan Guás at the end of the 15th century. The new lighting, which has 28 spotlights and is completely adjustable, includes the latest LED technology with light sources giving high colour-reproduction performance and very low consumption. It therefore allows the altarpiece to be shown to visitors in a much more didactic manner, by following a scene-by-scene sequence that will undoubtedly lead to greater understanding of the iconographic meaning of this exceptional work, and give a sense of the innumerable details making up each of its figures. To make this dynamic illumination of the different scenes on the altarpiece possible, it was necessary to implement a control system incorporating a programmable touch-screen with editing via buttons to adjust the visual effect of the different areas of the church and altarpiece, together with software that allows it to be programmed from a computer or mobile telephone using a custom-made app. About the Royal Monastery of Santa María de El Paular The monastery of Santa María de El Paular, which is located in the municipality of Rascafría on the slopes of the Sierra de Guadarrama facing Madrid, is a former Carthusian Monastery and was declared an Asset of Cultural Interest with the category of Monument in 1876. It is a state-owned monumental complex assigned to the Ministry of Education, Culture and Sport, which has worked on its conservation and restoration. With this in mind, over the last 20 years, the Cultural Heritage Institute of Spain, which comes under the Directorate General for Fine Arts and Cultural Heritage, has carried out a number of actions on much of the monastery’s heritage, both contents and buildings, from the main altarpiece to the roofs of the complex, the choir stalls and the stone front of the site. Iberdrola's support for culture Iberdrola undertakes projects at artistic monuments and unique buildings to install or improve the interior and/or exterior lighting in order to help enhance the appreciation of historical and artistic heritage and improve the energy efficiency of these systems. One example of this type of action is Iluminando el Prado/Lighting the Prado, the comprehensive lighting project for the Museo del Prado that uses LED technology, sponsored by Fundación Iberdrola España. This is a pioneering initiative in Spain and a reference point for the whole of Europe. The Salamanca Festival of Light and Avant-Garde is another example of the company’s commitment to innovative initiatives. Since last year, this city in Castile has been welcoming renowned artists, young talents and specialist companies that use light as a raw material in their works. READ MORE
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31/03/2017Iberdrola shareholders overwhelmingly endorse Chairman Ignacio Galán’s management at the helm of the company Iberdrola today held its General Shareholders’ Meeting at the Euskalduna auditorium in Bilbao with Chairman Ignacio Galán receiving the overwhelming support of the company’s shareholders for his management at the helm of the group. The Meeting, which saw 77.2% of the Iberdrola share capital represented, approved by an average of 99.4% of votes all resolution proposals included in the agenda. During his speech to a packed assembly hall, Ignacio Galán reviewed the group's performance throughout 2016. With net profit of €2.7 billion, nearly 12% over the previous year, and gross investment of €5 billion, the company has exceeded targets set for the 2014-2016 period with average annual net profit growing at almost 8% –twice as much as projected– and exceeding the initial target by close to €200 million. These results have allowed the group’s Board of Directors to propose an increase in shareholder remuneration of about 11% (from the amount pledged for 2015) to €0.31 per share. Also, all shareholders present at today’s General Meeting will receive an attendance premium of €0.005 gross per share. "These positive results have allowed us to offer you all a growing return over the past three years, which together with the share price performance, make total shareholder return over the period stand at 55%, significantly higher than the 14% of the Eurostoxx Utilities Index and 7% of the Ibex 35", said Ignacio Galán. Ever since the February update of the company’s strategic outlook for 2016-2020, Iberdrola’s stake has gained 9% in value. Social dividend: generating wealth The Chairman of Iberdrola dedicated part of his speech to describe the social dividend which the company distributes to communities in the regions where it operates, in the form of generating stable and quality jobs, through purchases from the entire supply chain, tax contributions, emissions reduction, its commitment to innovation and gender equality, fostering culture and the arts, and the inclusion of groups at risk of social exclusion. Ignacio Galán thus reminded Iberdrola shareholders that company activities generate 288,000 jobs worldwide[1] and that the group has brought 2,638 people into its team during 2016. "We have continued to provide training to our staff, which was further boosted with the opening of the Iberdrola campus. This commitment to education has been extended to the rest of society, through our International Scholarship Program and Research Grants which have helped about 700 young people complete postgraduate studies and doctorate degrees at international universities" added Galán. The company Chairman also stated that, in 2016, Iberdrola made purchases from 18,000 suppliers for a record amount of €9.8 billion. In addition, company tax contributions amounted to €5.8 billion, of which €3.5 billion were collected by the Spanish tax authority. Iberdrola has also continued to make progress in reducing specific emissions, which have fallen by 31% in the last five years and by 75% since 2000. In this regard, the company aims to be carbon neutral by 2050. Another issue that Ignacio Galán gave special attention to was innovation, an area where Iberdrola invested €211 million last year alone. This commitment to R&D&I has turned the company into a leading world player in the electricity sector. The social dividend was also cemented by progress on the Electricity for all programme – which has succeeded in providing access to electricity to 2.5 million people previously lacking it– and through Universo Mujer, the first initiative by a Spanish company to make a global commitment to promote the participation of women in sports. Culture and the arts also featured prominently in 2016, with new projects being funded in institutions such as the National Museums of Scotland, the Prado Museum, the Bilbao Guggenheim and the Bilbao Fine Arts Museum. Iberdrola, Utility of the future After reviewing the group’s results and community engagement activities in 2016, Ignacio Galán spelled out Iberdrola’s plans going forward. In an energy context marked by increased demand and the need to drastically reduce emissions to meet the commitments set by the Paris Agreement, Galán said: "It is perfectly feasible to achieve good financial results and, at the same time, lead the fight against climate change". In this regard, the Iberdrola Chairman stated that in this energy transition process, greater electrification of the economy is utterly essential. The industry’s future scenarios, he added, are described in a study by the Massachusetts Institute of Technology (MIT) entitled Utility of the future . According to it, the utilities of the future must implement a strategy that involves developing more renewables, more storage, smarter grids, and new solutions for customers; an approach which Iberdrola anticipated more than 15 years ago. These four pillars, he explained, provide the foundation for the group's business model, further complemented by a wide geographical diversification across countries that are either very solid or have high growth potential. Thus, Galán referred to the United States, where AVANGRID, the country’s second wind energy producer, provides a great platform for developing new networks; and to the United Kingdom, where ScottishPower is already the wind industry leader and is fully immersed in the deployment of smart grids and meters. He also mentioned the company’s leadership in renewables, in Spain and continental Europe where Iberdrola’s emissions are nearly 70% below the industry average. He also mentioned construction of three new reversible hydroelectric power plants along the Tâmega river, in the north of Portugal, having completed its pumped storage plants in Spain. With regards to Mexico, where Iberdrola is the largest private producer of electricity, the company Chairman explained that the group will own over 10,000 megawatts (MW) by 2020, once all ten power plants under construction are commissioned. “Thus, right before the end of this decade, our total output in Mexico will be greater than our current production in Spain,” he added. As for Brazil, Ignacio Galán said: "We are well positioned for the potential future restructuring of the sector." The implementation of this strategy, he explained, will be possible with the €25 billion the group plans to invest up to 2020; €1 billion more than the figure initially proposed in the Strategic Outlook 2016-2020 which was revised upward on February. Galán pointed out that forecasts for end of the period gross operating profit (Ebitda) have also expanded to €10 billion and that of net profit to €3.5 billion. The company Chairman added: "We expect to offer you, our shareholders, growing remuneration which could reach up to between €0.37 and €0.40 per share in 2020, some 30% more than was paid out last year." Leader in corporate governance Iberdrola continues its work to become a benchmark in corporate governance. In fact, the company already meets nearly all Good Governance Code recommendations set out by the National Securities Market Commission (CNMV). Furthermore, at today’s General Shareholders’ Meeting a new reform of the company's Corporate Governance System was submitted for approval, aiming at incorporating into its by-laws the commitment to the aforementioned social dividend and the company’s mission, vision and values. Ignacio Galán highlighted that Iberdrola was the first listed company to publish a report on the activities of the Board and its committees, detailing key topics discussed during 2016. "I am also pleased to say that, in terms of gender representation on corporate boards, our percentage is twice the average of Ibex 35 blue chip index companies, with all of our advisory committees being chaired by women and a female board coordinator", added Galán. The group’s Board of Directors also approved the Crime Prevention and Anti-Fraud Policy. All of this has led Iberdrola to be recognised by the Ethisphere Institute as one of the world's most ethical companies for the fourth consecutive year, the only Spanish company to be distinguished by this institution. To conclude his speech, the Chairman of Iberdrola thanked the work done by outgoing members of the Board: José Luis San Pedro and Santiago Martínez Lage. He also welcomed the two new company directors: Francisco Martínez Córcoles, current Business CEO; and Juan Manuel González Serna, Chairman of Grupo Siro. To wrap up, Ignacio Galán stated: "We are aware of our primary role as an engine for economic growth and social development, and are not about to stop with what has been achieved: we want to go further and make this company, your Iberdrola, an even bigger and more profitable company that is innovative, caring and socially advanced". [1] Source: PricewaterhouseCoopers. READ MORE
