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4-Traders Homepage  >  Equities  >  Mercado Continuo Espanol  >  Iberdrola SA    IBE   ES0144580Y14

Real-time Quote. Real-time Tradegate - 07/25 10:03:32 pm
6.177 EUR   +0.77%
07/22 IBERDROLA : NAVANTIA and IBERDROLA hold event to mark delivery of fi..
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Iberdrola : NAVANTIA and IBERDROLA hold event to mark delivery of first jackets for Wikinger offshore windfarm

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07/22/2016 | 05:41pm CEST

Release date- 21072016 - IBERDROLA and Navantia held an event today to mark the delivery of the first 'jacket' foundations for Wikinger offshore windfarm at the Fene shipyard where they were built by a consortium set up by Navantia and Windar.

The event was attended by the President of the Xunta de Galicia regional government, Alberto Nunez Feijoo; the Chairman of IBERDROLA, Ignacio Sanchez Galan, and the Chairman of Navantia, Jose Manuel Revuelta. Before the event, the dignitaries visited the Museum of Shipbuilding at Ferrol's Arsenal where they were received by Admiral Francisco Javier Romero Caramelo.

The delivery of the remaining components will continue throughout the month of August, successfully completing the contract signed on 18 December 2014 by the two companies. The scope of the contract included the manufacturing and delivery by barge of 29 jacket-type structures, at Fene shipyard, and 116 piles at Windar's facilities in Aviles. The project entailed about 650,000 hours of work for the entire supply chain and the creation of about 2,000 direct and indirect jobs.

During the event, which was held at Navantia's shipyard facilities in Fene, the two Chairmen expressed their satisfaction with the work completed and highlighted that the contract has been complied with, both in terms of quality standards and timeline.

The Chairman of Iberdrola emphasised that, through Wikinger offshore wind farm, the company has become a key business driver for its suppliers and said that 'Wikinger is a flagship project for Iberdrola since it brings together the key elements of our strategy: a strong commitment to renewable energies and technological innovation, international growth and the contribution to economic development and job creation in all of the territories where we operate. We are very pleased that our suppliers are able to join our international expansion and access new markets and business.'

Jose Manuel Revuelta highlighted that 'this contract contributes to Navantia's positioning as a leading builder of offshore wind structures, an industry with enormous potential in Europe, particularly in the United Kingdom and Germany. It also allows Navantia to diversify its range of products whilst providing new orders to complement our shipbuilding activities.'

Electricity for 350.000 households

The Wikinger offshore windfarm, with an investment of around EUR1.4 billion, is being developed by IBERDROLA in the Baltic Sea, where water depth ranges between 37 and 43 metres. The site covers a surface area of about 34 square kilometres (km2), where the company plans to install 70 wind turbines, each with a unit capacity of 5 megawatts (MW), as well as an offshore substation.

By the time it is connected to the grid in late 2017, Wikinger's 350 MW capacity will produce enough energy to meet the electricity needs of over 350,000 German households, avoiding the emission of some 600,000 tonnes of CO2 into the atmosphere each year.

Iberdrola is supported in this project by suppliers of state-of-the-art equipment, technology and services selected through competitive international tender procedures open to companies from around the world.

Jacket specifications

Each jacket consists of a latticework structure topped by a transition piece that will join it to the base of the turbine. The piles needed to fix the structure to the seabed are included in the scope of the agreement between Iberdrola and Navantia-Windar.

Jacket weight: 630 tonnes.

Height: 62 metres.

Footprint: 25 x 25 metres.

Pile weight: 350 tonnes.

Total amount of steel used: 27,350 tonnes.

About IBERDROLA

With over 170 years of experience, IBERDROLA is today one of the world's largest electricity utilities and a leading producer of renewable energy. The company produces and supplies electricity to around 100 million people in the countries where it operates.

After the radical transformation over the past 15 years, IBERDROLA is today Europe's number one electricity company and one of the largest in the world by market capitalisation. This is the result of the combination of its corporate vision -which in 2001 led the company to look ahead to future trends in the sector-, the strategy designed to make this vision a reality, its successful implementation, and the ethical values that have always guided the Group's actions.

On this basis, IBERDROLA is now embarking on a new stage of growth, supported by a strong investment drive between 2016 and 2020, essentially in regulated businesses or with long-term contracts, which will provide the security, stability and visibility that are the hallmarks of the company's business model. IBERDROLA will continue to maintain its social commitments, acting as a driver for growth and job creation in the countries where it operates, and creating sustainable value for all of its stakeholders.

About Navantia

NAVANTIA is a world reference in the design, construction and integration of warships with a high technological content, as well as ship repairs and upgrades. Its lines of activity also include the design and manufacturing of combat and command and control systems, integrated platform management systems, firing control systems, propulsion engines and life cycle support for all its products. Although its main activity is shipbuilding, NAVANTIA also designs and manufactures systems for the Spanish Army and Air Force.

NAVANTIA belongs to Grupo SEPI, a corporate holding reporting directly to the Ministry of Finance and Public Administrations. SEPI has a direct and majority participation in 16 companies, with a final workforce of more than 73,000 professionals in 2015. Equally, it has minority direct shareholdings in 10 companies, and indirect shareholdings in more than 100 companies.

Contact:

Tel: 14649-0001

(c) 2016 Electronic News Publishing -, source ENP Newswire

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Financials (€)
Sales 2016 33 149 M
EBIT 2016 4 505 M
Net income 2016 2 544 M
Debt 2016 28 219 M
Yield 2016 4,74%
P/E ratio 2016 15,17
P/E ratio 2017 14,82
EV / Sales 2016 2,03x
EV / Sales 2017 1,98x
Capitalization 39 000 M
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 6,51 €
Spread / Average Target 6,2%
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NameTitle
José Ignacio Sánchez Galán Chairman & Chief Executive Officer
Francisco Martínez Córcoles Group Chief Operating Officer
José Sáinz Armada Chief Financial Officer
Íñigo Víctor de Oriol Ibarra Independent Director
Braulio Medel Cámara Independent Director
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