Iberdrola’s contribution to the public coffers up by 8%, to over €10.3 B in 2024

The Iberdrola Tower, in Bilbao.

Spain is the biggest recipient with 4.3 B, 14% more than its tax contribution in 2023
The group's tax contribution has almost doubled its net profit and brings in €1.2 M every hour

Iberdrola has consolidated its position as one of the companies that contributes most to taxation in the countries in which it operates. In a record year for investments – which reached €17 B as a result of the growth in demand in all markets – the company's tax contribution has also reached historic levels. It increased by 8% to more than €10.3 B in 2024.

This amount doubles the group's net profit and is equivalent to the contribution of more than €28 M per day in taxes, i.e. €1.2 M every hour.

The positive impact on society of the activity of the electricity company chaired by Ignacio Galán is reflected both in its commitment to the economy’s electrification, which drives the economy and jobs, and in its tax contribution. The contribution to the public coffers in the more than 25 countries in which the electricity company operates has exceeded €50 B in the last six years.

The Group is subject to more than 70 electricity taxes worldwide, the vast majority of which are in Spain, where it is subject to 40 electricity taxes, 26 of which are regional. Overall, taxes and charges affecting the income statement, excluding corporate income tax, account for 111% of net operating expenses, a very striking figure compared to the same percentage in the rest of the world (49%).

Iberdrola's total contribution by country is led by Spain (€4.313 B), followed by Brazil (€2.428 B), the United States (€1.292 B), the United Kingdom (€1.260 B) and Mexico (€442 M). The rest of the countries contributed €565 M.

The company as an engine of wealth

Iberdrola is aware of the importance and contribution of taxation, as the taxes paid by the group in the countries and territories in which it has a presence generate a significant job- and wealth-creation effect in the regions.

The company contributes with its activity to the creation of wealth and prosperity wherever it operates. Its contribution to world GDP is more than €52 B, 14% more than in the previous year, of which nearly €17.5 B correspond to Spain, while its global workforce totals 42,200 people, generating nearly 500,000 jobs directly, indirectly and induced around the world.