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Ignacio Gutierrez - 1 Gutierrez - 1 Citigroup's - 1 Francisco Reynes - 1 Naturgy - 1 Iberdrola - 1 Armando Martinez - 1 Pietro Lombardi - 1
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☆ Citi banker not joining Spain's Naturgy as CEO, sources say
  + stars: | 2023-07-11 | by ( Pietro Lombardi | ) www.reuters.com   time to read: +1 min
July 10 (Reuters) - Ignacio Gutierrez-Orrantia, one of Citigroup's (C.N) top bankers in Europe, will remain at the bank, sources familiar with the matter told Reuters on Tuesday, following media reports that he was set to join Spanish power utility Naturgy (NTGY.MC) as CEO. On Sunday, he had called Naturgy's chairman and CEO Francisco Reynes, two of the people said. Naturgy and Citi declined to comment. After rival Iberdrola (IBE.MC) appointed Armando Martinez as CEO last year, Naturgy’s leadership structure, with the power concentrated in the hands of Reynes, had become an anomaly among large Spanish energy companies. Reporting by Pietro Lombardi, Jesus Aguado and Andres Gonzalez Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Ignacio Gutierrez, Gutierrez, Citigroup's, Francisco Reynes, Naturgy, Iberdrola, Armando Martinez, Pietro Lombardi, Jesus Aguado, Andres Gonzalez, Mark Potter Organizations: Reuters, Citi, Thomson Locations: Europe, Spanish, Middle East, Africa
☆ Spain's Iberdrola to invest $47 bln in energy transition in 2023-25
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: +4 min
Some 17 billion euros of the 47 billion total investment will go on renewables. In its last strategy update, Iberdrola said it planned to invest 75 billion euros in renewable energy, grids and retail operations from 2020-2025. Iberdrola currently has 40 GW of renewables capacity, new chief executive Armando Martinez told the compay's capital markets day in London. Net profit should increase to 5.2-5.4 billion euros by 2025 from an expected 4-4.2 billion euros in 2022, Iberdrola said. It also aims for earnings before interest, taxes depreciation and amortisation (EBITDA) of 16.5 billion-17 billion euros by 2025, up from 13 billion euros in 2022 and above analyst consensus of 12.6 billion euros.
☆ Iberdrola profit boosted by US, Brazil, offsetting Spanish woes
  + stars: | 2022-10-26 | by ( David Latona | ) www.reuters.com   time to read: +3 min
Iberdrola reported a net profit of 3.1 billion euros ($3.09 billion) for the January-September period and said geographical diversification allowed it to maximise growth and benefit from positive currency swings. In Spain, however, profit fell by 14% as summer droughts hampered hydroelectric generation, which was almost 48% lower than last year, Iberdrola said. Galan said Iberdrola was not exposed to Russian gas, adding that world leaders have now realised gas market dynamics were "causing the problem and electricity is the solution". The company has invested 7.58 billion euros so far this year, a 14.2% increase compared to the same period in 2021. Iberdrola also reiterated its forecast for an annual net profit of between 4 billion and 4.2 billion euros and announced a 5.9% higher interim dividend of 0.18 euros per share, payable in January 2023.
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