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(AWP Alliance News) - Iberdrola SA on Wednesday raised its annual profit guidance after its first quarter profit fell on a reported basis but climbed when adjusted, despite a fall in revenue. The Bilbao, Spain-based electric utility company said reported net profit fell 15% to EUR1.71 billion in the first quarter from EUR2.00 billion a year prior. Adjusted net profit climbed 11% to EUR1.87 billion from EUR1.67 billion. Revenue was 4.5% lower at EUR12.02 billion from EUR12.58 billion, but earnings before interest, tax, depreciation and amortisation fell 9.7% to EUR4.07 billion from EUR4.50 billion. Adjusted Ebitda was up 2.4% at EUR4.07 billion from EUR3.97 billion. Iberdola said its Networks arm was a 'key driver' for adjusted Ebitda, as Networks adjusted Ebitda grew 9% to EUR2.05 billion. Power & Customers adjusted Ebitda fell 3% to EUR2.02 billion. Looking ahead, Iberdrola said it now expects net profit growth of more than 8%, excluding capital gains from asset rotation. The company previously said it expects to report adjusted net profit above EUR6.6 billion for 2026, which would be a 5.9% rise from EUR6.23 billion in 2025. 'These results show the positive impacts of our strategic focus on regulated businesses in A-rated countries, mainly the US and the UK. Driven by growth in our regulated asset base and generation capacity, today we are upgrading our net profit guidance for 2026,' said Executive Chair Ignacio Galan. 'The current crisis is showing once again the urgent need to improve energy security, strategic autonomy and competitiveness through electrification, and this will drive additional investment opportunities as we contribute to build more resilient and sustainable energy systems.' Shares in Iberdrola were down 1.3% at EUR19.90 on Wednesday morning in Madrid. By Michael Hennessey, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - The EU said on Wednesday Meta Platforms Inc is failing to prevent children under 13 using Facebook and Instagram, potentially exposing them to inappropriate content - and putting the Menlo Park, California-based tech company at risk of a massive fine. The EU has in recent months stepped up efforts to protect children online, with several member countries considering social media bans for under-16s. The EU executive is also exploring a possible bloc-wide age limit on social media after coming under intense pressure to take broader action following Australia's groundbreaking ban on using such platforms for under-16s. In its latest move to enhance protections for children online, the EU said a probe showed Meta broke digital content rules, and told the US firm to 'strengthen' its measures to prevent, detect and remove under-13s on Facebook and Instagram. Under Meta's own terms and conditions, the minimum age to access the social media platforms is 13. In its preliminary view, the EU found Meta had ineffective measures to enforce its own restrictions on children using Facebook and Instagram. 'Terms and conditions should not be mere written statements, but rather the basis for concrete action to protect users - including children,' said EU tech tsar Henna Virkkunen. If the regulator's views on Meta are confirmed, the EU can impose a fine of up to six percent of the company's total worldwide annual turnover. Meta disagreed with the EU's findings. 'We're clear that Instagram and Facebook are intended for people aged 13 and older and we have measures in place to detect and remove accounts from anyone under that age,' a Meta spokesperson said, adding the company would continue to engage with the EU. The EU has vowed to ensure Big Tech gets to grips with the many dangers online for children. In February, it gave the unprecedented warning to China's TikTok to change its 'addictive design' or risk heavy fines. Wednesday's preliminary findings against Meta come after the EU opened an investigation in May 2024 under the Digital Services Act, an online content law that has been fiercely criticised by the US President Donald Trump's administration. The DSA is part of reinforced legal weaponry adopted by the EU in recent years to curb what Brussels describes as Big Tech's excesses. European regulators found children are able to easily create an account by entering a false date of birth, and said Meta had 'no effective controls' to check. The EU also said Meta's tool to report the presence of children on Facebook or Instagram was 'difficult to use and not effective, requiring up to seven clicks just to access the reporting form'. Meta also 'inadequately' identified the risks of children under 13 accessing the apps, and the potential for exposure to 'age-inappropriate experiences'. Brussels added Meta's risk assessment 'contradicts large bodies of evidence' from across the EU that indicate around 10 to 12% of under-13s access the platforms. Meta can avoid fines by offering remedies for the breaches. The May 2024 probe into Meta is wide-ranging. EU regulators are still looking into how Meta protects users' physical and mental wellbeing, as well as the 'addictive' design of Facebook and Instagram. Alongside the EU's investigations into online platforms, Brussels this month said an EU-developed age-check app was ready to go and expected to be rolled out in the coming months. EU officials say the app seeks to replace pop-up banners asking users to click to confirm they are over 18 to access adult content sites. Last month, the EU said four pornographic platforms including Pornhub were allowing children to access adult content in breach of digital rules. Meta shares had closed 1.1% lower at USD671.34 each on Tuesday in New York. By Raziye Akkoc source: AFP Copyright 2026 Alliance News Ltd. All Rights Reserved.

(AWP Alliance News) - TotalEnergies SE on Wednesday reported a jump in profit for the first quarter and hiked its dividend, as the ongoing conflict in the Middle East continues to drive up oil prices. The Paris-based energy group said consolidated net income jumped 51% to USD5.93 billion from USD3.92 billion a year prior. The TotalEnergies share of this grew 51% to USD5.81 billion from USD3.85 billion. Adjusted net income climbed 29% to USD5.39 billion from USD4.19 billion. Diluted earnings per share advanced 57% to USD2.64 from USD1.68, while sales climbed 3.7% to USD54.16 billion from USD52.25 billion. TotalEnergies said it will increase its first interim dividend by 5.9% to EUR0.90 per share from EUR0.85, which it said it is 'highest dividend growth among the oil and gas majors'. The board also authorised the continuation of share buybacks up to USD1.5 billion in the second quarter and confirmed the objective of a payout ratio above 40% over the year. 'Driven by a 4% year-on-year organic production growth, offsetting the impact on production of the current Middle East conflict, TotalEnergies reports adjusted net income of USD5.4 billion and a cash flow of USD8.6 billion in the first quarter, demonstrating its ability to capture price upside through a high-performing and diversified integrated portfolio in oil, gas and power,' said Chief Executive Officer Patrick Pouyanne. Looking ahead, TotalEnergies said oil prices should remain at high levels during the second quarter. Excluding the impact of the conflict in the Middle East, it expects second quarter production to growth around 4% compared to a year ago, in line with first quarter growth. It said the current production shut down in Qatar, Iraq and offshore in the United Arab Emirates represents around 15% of its total production. Separately on Wednesday, TotalEnergies said it has completed the acquisition of 50% of EPH's flexible power generation platform in Italy, UK & Ireland, Netherlands and France. In exchange, EPH will receive around 95.4 million shares in TotalEnergies, representing around 4.2% of its share capital, making it one of the company's main shareholders. The transaction leads to the creation of TTEP, the second largest flexgen player in Europe, based in Amsterdam. Shares in TotalEnergies were up 1.1% at EUR79.09 on Wednesday morning in Paris. By Michael Hennessey, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.