T: F: UPCOMING EVENTS

Transcription

1 UPCOMING EVENTS 2008 FIRST QUARTER RESULTS: April 23rd, Details will be provided soon IBERDROLA s Net Electricity Production (provisional) January-March 2008 TOTAL GROUP GWh % Weight Vs 2007 Hydro 2, % -54.4% Nuclear 6, % 3.8% Coal 4, % 234.3% Fuel-Oil % 140.0% Combined Cycle 16, % 80.2% Cogeneration 1, % 128.8% Renewables 4, % 79.7% TOTAL 35, % 43.2% Demand 45, % January-March 2008 SPAIN GWh % Weight Vs 2007 Hydro 1, % -64.9% Nuclear 6, % 3.8% Coal % -30.7% Fuel-Oil % 140.0% Combined Cycle 4, % 49.1% Cogeneration % -2.0% Renewables 2, % 6.5% Wind 2, % TOTAL 16, % -8.9% Demand 27, % Hydro Reservoir levels at % (4,515 GWh) U.K. (SPW) GWh % Weight Vs 2007 Hydro % N/A Coal 3, % N/A Combined Cycle 3, % N/A Cogeneration % N/A Renewables % N/A TOTAL 7, % N/A Demand,477 N/A USA (SPW- PPM) GWh % Weight Vs 2007 Cogeneration % N/A Renewables 1, % N/A TOTAL 2, % N/A LATIN AMERICA GWh % Weight Vs 2007 Hydro % -2.1% Combined Cycle 8, % 41.9% Cogeneration % 6.4% TOTAL 9, % 39.5% Demand (managed) 7, % RoW GWh % Weight Vs 2007 Renewables % 33.7% TOTAL % 33.7%

2 Spanish Energy Balance (Provisional. Source: Red Eléctrica de España, S,A,) January-March 2008 Year 2008 GWh Vs GWh Vs Hydro 3, % 3, % Nuclear 16, % 16, % Coal 14, % 14, % Fuel-Oil % % Combined Cycle 23, % 23, % GROSS PRODUCTION O, Regime 57, % 57, % Own consumption -2,6 0.8% -2,6 0.8% Special Regime 17, % 17, % NET PRODUCTION 72, % 72, % Pumping consumption -1, % -1, % International Exchanges -2, % -2, % DEMAND IN TRANSMISSION 69, % 69, % Wholesale Market data January-March 2008 Year 2008 Total Markets average price ( / MWh) (*) Iberdrola's total market share (**) 23.38% 23.38% (*) Capacity payments not included. (**)Iberdrola s total Production over Total Demand in Spain

3 IBERDROLA s Installed Capacity (provisional) Q Q GROUP MW % Weight MW % Weight Hydro 9, % 9, % Nuclear 3, % 3, % Coal 1, % 4, % Fuel-Oil 2, % 1, % Combined Cycle 8, % 13, % Cogeneration % 1, % Renewables 4, % 8, % TOTAL 30, % 41, % SPAIN MW % Weight MW % Weight Hydro 8, % 8, % Nuclear 3, % 3, % Coal 1, % 1, % Fuel-Oil 2, % 1, % Combined Cycle 4, % 5, % Cogeneration % % Renewables (2) 4, % 4, % TOTAL 25, % 26, % UK (SPW) MW % Weight Hydro % Coal 3, % Combined Cycle 1, % Cogeneration 0 1.5% Renewables % TOTAL 6, % USA (SPW- PPM) MW % Weight Single Cycle Gas % Cogeneration (PPM) % Renewables (PPM) 2, % TOTAL 3, % LATIN AMERICA MW % Weight MW % Weight Hydro % % Combined Cycle 4, % 5, % Cogeneration 93 2.% % TOTAL 4, % 5, % RoW MW % Weight MW % Weight Renewables % % TOTAL % %

4 Stock Market Iberdrola Ibex 35 EuroStoxx Utilities January-March 2008 Max (Date).70 (09/01/08) 15,002.5 (02/01/08) (07/01/08) Min (Date) 7.79 (23/01/08) 12,254.6 (23/01/08) (23/01/08) Quartely Change -5.60% % % Year 2008 Max (Date).70 (09/01/08) 15,002.5 (02/01/08) (07/01/08) Min (Date) 7.79 (23/01/08) 12,254.6 (23/01/08) (23/01/08) Yearly Change -5.60% % % Ratios Dividend Information Market Capitalization (12/31/07) 49,039 Gross Interim (01/02/08) P/E (price at 03/31/08 / EPS 07) Gross Final (07/02/08) P/BV (price at 03/31/08 / Equity 07) 1.76 Attendance premium Dividend Yield (Div, paid / Close price 07) 2.65%

5 Financials 2007 (1) MM Vs (%) Gross Margin 8, % EBITDA 5, % EBIT 3, % Profit before taxes 3, % Net profit 2, % MM Vs Total Assets 68,284 33,061 Equity 27,832,567 Net Debt (2) 20,470 13,119 Capex 4,505 2,724 (1) Includes SPW from april 23th, 2007 (2)Includes the amounts corresponding to the tariff insufficiency of 2006 and EPS CFPS Gearing (4) 42.4% 55.30% (3) Calculation made with the average shares of the period. (4) Net debt/(net debt + Shareholders equity). Not including the tariff insufficiency, leverage as at December 2007 would stand at 41%. Senior Unsecured Debt Credit Rating Outlook S&P A- Stable Moody's A3 Stable Fitch A+ Negative Sustainability Rating / Situación Sustainability Dow Jones Sustainability World Index points / Sustainability Leaders Group Dow Jones Sustainability Stoxx Index points / Sustainability Leaders Group Climate Leadership Index Best worldwide utility Storebrand Investment SRI Best in Class, 2nd global utility OEKOM Classified as Prime among the word s best utilities Global 0 Most Sustainable Corp. in the World IBERDROLA among the 0 most sustainable companies in the world Global Roundtable on Climate Change IBERDROLA one of the developers Business Week, Climate Group Group of leaders: Among the top 3 in the ranking of most outstanding companies in greenhouse gases (GHG) management; top in the ranking of companies that have contributed most to reduce GHG and have led the environmental management. INNOVEST Best worldwide in the Climate Leadership Index VIGEO Highest rating among utilities in the environmental category CR- Risk. University Hamburg & SRI Deutsche Bank 30,5 points, IBERDROLA in leading Group in utilities 2007 Electric Utilities Europe Survey (Triodos Bank) Best performing company (Rank :1 of 12) Corporate reputation MERCO Ranked 8 th, Leader in the energy, gas, and water industry Corporate Responsability Index 2006 ScottishPower: Platinum Status (May 2007) Corporate governance FTSE ISS Corporate Governance Index (CGI) Index ranking 76,4. Industry Ranking 71,4. Sustainability Yearbook 2008 IBERDROLA is one of the three companies in the industry that obtained the Gold Class.

6 LEGAL NOTICE: DISCLAIMER This document has been prepared by Iberdrola, S.A. (the Company ) in connection with the presentation of financial results of the first quarter of the 2008 fiscal year. The information and any opinions or statements made in this document have not been verified by independent third parties; therefore no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein. Neither the Company nor any of its advisors or representatives assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law (Law 24/1988, of July 28, as amended and restated from time to time), Royal Decree-Law 5/2005, of March 11, and/or Royal Decree 13/2005, of November 4, and its implementing regulations. In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities, nor a request for any vote or approval in any other jurisdiction. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement. IMPORTANT INFORMATION This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of Iberdrola, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.