Dubai Electricity and Water Authority (Dewa) posted nine-month (9M) cumulative revenue of AED23.5 billion ($6.4 billion), EBITDA of AED11.8 billion, and net profit after tax of AED5.5 billion ($1.5 billion).

 

“We are committed to excellence and sustainable growth, guided by Dubai’s visionary leadership. Dewa’s 6.2% revenue growth to AED23.5 billion and 4.7% increase in EBITDA to AED11.8 billion for the first 9 months of 2024, reflect continued growth in Dubai and our commitment to operational excellence, innovation, and sustainability. We are contributing to Dubai’s vision for a sustainable future in alignment with the Dubai Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050. Dewa will continue to deliver strong shareholder value through efficient operations, consistent dividends and support Dubai’s transition to a green economy,” said Saeed Mohammed Al Tayer, MD & CEO of Dewa.

 

Q3 results

Dewa’s third quarterly consolidated revenue increased by 4.75% to AED9.9 billion in 2024. Dewa’s EBITDA for the third quarter was AED5.1 billion, and Cash from Operations was up by 34.20% to AED5.9 billion. 

 

Dewa’s first 9-month consolidated revenue increased by 6.20% to a record AED23.5 billion in 2024, and this was mainly driven by an increase in demand for electricity, water and cooling services. Dewa’s consolidated first 9-month EBITDA was up by 4.71% to AED11.8 billion.--TradeArabia News Service