economy
Spanish energy companies achieve increased profit due to Iran war
MADRID – Leading energy companies in Spain achieved a profit of 4.2 billion euros in the first quarter of 2026, which is 27.2 percent more than a year earlier, Spanish media reported today.
TL;DR
- Leading Spanish energy companies earned 4.2 billion euros in Q1 2026, a 27.2% increase from the previous year.
- Geopolitical instability in the Middle East and expanding margins contributed to strong sector results.
- Repsol's net profit soared by 154% to 929 million euros, with high crude oil prices being a major factor.
- Iberdrola achieved a record net profit of 1,865 million euros, up 11.4%, due to international investments.
- Naturgy reported a net profit of 530 million euros, a 4.7% increase.
- Endesa earned 725 million euros, a 24.4% increase, driven by its distribution business and renewables.
- Repsol's CEO warned about potential negative impacts of a new windfall tax on the energy sector.