MADRID, Feb 27 (Reuters) - Europe's largest utility Iberdrola (IBE.MC) , opens new tab expects a mid- to high-single digit net profit growth this year after record investments pushed 2024 profit above analysts' expectations.

Record investments and the sale of some assets propelled net profit to 5.61 billion euros ($5.87 billion) last year, a 17% increase from the 4.8 billion euros it posted in 2023.

The median forecast by analysts polled by LSEG was 5.51 billion euros.

The company invested a record 17 billion euros last year, 70% of which in the United States and Britain.

Iberdrola proposed a dividend of 0.635 euros per share against 2024 results, a 15% increase.

"A strengthened business profile and better market fundamentals contribute to a structural improvement in our outlook for 2025 and beyond," Executive Chairman Ignacio Galan said.

($1 = 0.9552 euros)

Sign up here.

https://www.reuters.com/business/energy/iberdrola-hikes-2025-outlook-after-profit-surpasses-expectations-2025-02-27/