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Dewa reports record 9-month revenue of Dh23.5 billion

Ebitda stood at Dh11.8 billion, up by 4.71%

Published: Tue 12 Nov 2024, 3:27 PM

Updated: Tue 12 Nov 2024, 3:48 PM

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Dubai Electricity and Water Authority PJSC (Dewa), the emirate of Dubai’s exclusive electricity and water services provider listed on the Dubai Financial Market (DFM), on Tuesday reported 9 month cumulative revenue of Dh23.5 billion, Ebitda of Dh11.8 billion, and net profit after tax of Dh5.5 billion.

Dewa’s third quarterly consolidated revenue increased by 4.75 per cent to Dh9.9 billion in 2024. Dewa’s Ebitda for the third quarter was Dh5.1 billion, and cash from operations was up by 34.20 per cent to Dh5.9 billion. Dewa’s first nine-month consolidated revenue increased by 6.20 per cent to a record Dh23.5 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 per cent to Dh11.8 billion.

“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.



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