Iberdrola posts 12% increase in net profit boosted by networks business

Group 1 - Iberdrola reported a 12% increase in net profit for the last year, reaching 6.29 billion euros ($7.42 billion), driven by its power network business in the UK and the US [1] - The company incurred charges of 464 million euros in the fourth quarter related to its renewables pipeline [1] - Iberdrola aims for an adjusted net profit exceeding 6.6 billion euros this year and more than 7.6 billion euros by 2028 [2]