DEWA
Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), today reported its first half 2024 consolidated financial results, recording revenue of AED 13.7 billion, EBITDA of AED 6.6 billion, operating profit of AED 3.3 billion and profit after tax of AED 2.6 billion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240808038686/en/
HE Saeed Mohammed Al Tayer, MD & CEO of DEWA (Photo: AETOSWire)
DEWA’s first half consolidated revenue increased by 7.3% to a record AED 13.7 billion in 2024, compared to first half of 2023 and this was mainly driven by an increase in demand for electricity, water and cooling services. Consolidated first half net profit was down 6.7% to AED 2.6 billion mainly due to higher depreciation and the first-time application of corporate tax in 2024. DEWA’s second quarterly consolidated revenue increased by 7.8% to AED 7.9 billion in 2024. EBITDA for the second quarter was up by 8.8% to AED 4.0 billion, and Profit before Tax was up by 5.9% to AED 2.1 billion.
Gross power generation in the first half of 2024 was 25.5 TWh marking an increase of 6.7% over 23.9 TWh generated in the same period in 2023. Out of the above, green energy was 3.3 TWh, representing 12.9% of total generation in 2024. As of 30th June 2024 there were 1,236,845 Electricity and Water customer accounts representing an increase of 52,134 (4.4%) over the number of customer accounts as on 30th June 2023. DEWA’s total desalinated water production in the first half of 2024 reached 71.3 billion Imperial Gallons, which is 4.3% increase compared to the same period of 2023.
By the end of the first half of 2024, the company’s installed generation capacity reached 16.779 GW including 2.86 GW representing renewable energy capacity. The company’s installed desalinated water production capacity was unchanged at 495 MIGD.
DEWA’s audited financials can be found at DEWA’s website: https://www.dewa.gov.ae/en/investor-relations
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808038686/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EsriIntroduces Latest ArcGIS Integrations for Microsoft Fabric18.11.2025 23:05:00 CET | Press release
Users Can Now Access a Powerful Combination of Spatial Analytics and Intelligent Mapping Esri, the global leader in location intelligence, today announced General Availability of ArcGIS GeoAnalytics for Microsoft Fabric. Also now in public preview is ArcGIS Maps for Microsoft Fabric, a mapping tool enabling users to easily add context with business, lifestyle, demographic, and environmental data to enrich enterprise data in Microsoft OneLake. “This integration makes some of Esri’s core capabilities accessible for data professionals directly from their Microsoft Fabric environment,” said Jack Dangermond, Esri president. “We are pleased to advance our long-standing strategic collaboration with Microsoft to help our shared customers unlock spatial insights and reveal unexplored patterns.” There has been growing market demand among data scientists, data engineers, business analysts, and their executive stakeholders for spatial analytics and mapping. Esri’s GeoAnalytics for Fabric will allo
Andersen Consulting indgår samarbejdsaftale med Business Meets Culture18.11.2025 22:18:00 CET | Pressemeddelelse
Andersen Consulting udvider sin globale rækkevidde gennem en samarbejdsaftale med Business Meets Culture (BMC), der er en global strategikonsulentvirksomhed med lokationer i Latinamerika, Europa og USA. Med afsæt i kulturel intelligens og indsigt i menneskelig adfærd specialiserer BMC sig i strategi, brandstrategi, kommerciel planlægning, innovation og altid transformation. Med deres egne metoder og tværfaglige teams hjælper BMC virksomheder med at knytte strategi tættere til mennesker ved at omsætte udvikling, adfærd og forretningsmæssige udfordringer til relevante muligheder for vækst. Virksomheden samarbejder med førende aktører på tværs af brancher som forbrugsvarer, finansielle tjenester, telekommunikation og teknologi. "Samarbejdet med Andersen Consulting giver os mulighed for at styrke rækkevidden og effekten af vores kulturelt forankrede strategiske arbejde," siger Fernando Parodi, som er CEO for BMC. "Sammen står vi endnu stærkere og kan tilbyde organisationer skarpere perspek
Finalists Announced for 2026 SPIE Startup Challenge, Showcasing Innovative, Investment-Ready Optics and Photonics Technologies and Applications18.11.2025 22:05:00 CET | Press release
The annual pitch competition final will be held at SPIE Photonics West Sevenearly-stage startup companies have been selected to compete for a top prize of $10,000 at the 16th annual SPIE Startup Challenge at Photonics West on 20 January. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118106028/en/ Eventual winner, Trey Daunis of Max-IR Labs, pitches their innovative technology during the 2025 SPIE Startup Challenge, engaging judges and a packed audience at SPIE Photonics West. The SPIE Startup Challenge is a competitive entrepreneurial platform for new businesses that utilize optics and photonics for innovative products or applications. Participating teams are competing for sponsored prizes, in addition to gaining increased visibility with potential investors and exposure to potential collaborators or partners. Cash prizes of $10,000, $5,000, and $2,500, provided by Startup Challenge Founding Partner Jenoptik, will be awa
Owkin Unveils Europe’s First Pan-European Agentic Infrastructure for Biology at the Franco-German Digital Sovereignty Summit18.11.2025 21:48:00 CET | Press release
At today’s Franco-German Summit on Digital Sovereignty in Berlin, Owkin, together with leading academic partners Gustave Roussy (France) and Charité Comprehensive Cancer Center (Germany), announced a landmark initiative to build the first pan-European agentic infrastructure to make biological data AI-ready, as a key step towards biological super intelligence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118529021/en/ Thomas Clozel (CEO of Owkin) joins Emmanuel Macron, Friedrich Merz and others at the Franco-German Digital Sovereignty Summit The project aims to develop and deploy modern AI methods to support biological research and drug development. An initial focus will be on supporting the harmonization and structuring of biomedical data across Europe to enhance scientific collaboration. It will combine agentic AI systems and cutting-edge biomedical data structuring, to power a new reasoning model capable of automating
Reply at Microsoft Ignite 2025: Showcasing AI Innovation, Copilot Experiences, and Intelligent Enterprise Solutions18.11.2025 21:30:00 CET | Press release
Reply [EXM, STAR: REY] is taking part in Microsoft Ignite 2025, a premier event for technology professionals and decision-makers hosted by Microsoft, held from November 18 to 21 in San Francisco, California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118836834/en/ A trusted Microsoft partner since 1996, Reply empowers organizations to innovate with Microsoft technologies, driving agility, intelligence, and sustainable growth. A trusted Microsoft partner since 1996, Reply empowers organizations to innovate with Microsoft technologies, driving agility, intelligence, and sustainable growth. With more than 2,000 Microsoft certifications across its network of companies – including Business Elements Reply, Cluster Reply, Solidsoft Reply, Light Reply, Root16 Reply, Valorem Reply, WM Reply and Zest Reply – the group has achieved all six Microsoft Solutions Partner designations. This year, Reply is also celebrating two major h
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom