Strong Financial Performance
Net profit reached €2,004 million, a 26% increase year-on-year. Reported EBITDA was €4,643 million, up 12% in like-to-like terms.
Record Investments
Investments were up by 14%, reaching €2,720 million in the first quarter and €17,300 million in the last 12 months, with significant growth in the U.S. and U.K.
Network Expansion
Network investment increased by 18%, with major growth in the U.K. and U.S. The regulatory asset base in the U.K. reached €15.5 billion.
Renewables Growth
Renewables investment rose by 7%, with Offshore wind up 50% due to projects in the U.S., U.K., and Germany. Offshore wind projects are set to be operational in 2025 and 2026.
Cash Flow and Financial Stability
Cash flow increased by 11% to €3,502 million, maintaining a BBB+ rating. Liquidity remains strong at €21 billion.