DEWA
8.8.2024 16:46:35 CEST | Business Wire | Press release
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
Netmore and Cibicom Enter Strategic Partnership for Denmark and Introduce Unified Roaming Across the Nordics15.9.2026 08:00:00 CEST | Press release
Roaming with Digita provides seamless cross-border coverage while driving convergence toward a true global LoRaWAN® network Netmore Group, the leading network operator for Massive IoT, today announced that Cibicom has selected Netmore’s Operator Platform-as-a-Service (PaaS) to operate, optimize, and scale its nationwide LoRaWAN® network for Internet of Things (IoT) deployments. Cibicom is the largest LoRaWAN network operator in Denmark and provides critical communication infrastructure for nationwide broadcast and LTE450 services as well as tier 3 data center solutions and B2B fiber connectivity. The partnership means that Cibicom will replace its existing LoRaWAN Network Server with Netmore’s ThingPark Platform and that the Parties will work strategically together to ensure Danish customers can benefit from comprehensive and reliable LoRaWAN connectivity across Denmark. By leveraging Netmore's carrier-grade platform, Cibicom gains enhanced network scalability, seamless roaming, and hi
PSG Equity Holds Final Close of Third European Fund at Over €4.4 Billion15.9.2026 08:00:00 CEST | Press release
Fund hits hard cap; commitments significantly exceed size of PSG Europe IIStrong support from new and long-term investors signals continued demand for PSG Equity’s investment strategyFocused on scaling up European software and technology companies and building them into pan-European category leaders with global reach PSG Equity (“PSG”), a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to drive transformational growth, today announced the final close of PSG Europe III (“PSGE III” or the “fund”) at over €4.4 billion in total committed capital. The fund reached its hard cap, receiving strong support from new and returning investors. PSGE III surpasses its €2.6 billion predecessor fund, which held its final close in October 2023. The Europe-focused fund saw commitments from state pension funds, sovereign wealth funds, insurance companies, family offices and high net worth individuals. PSGE III will continue the firm’s strat
Adabas & Natural Appoints Hans Roth as Chief Executive Officer15.9.2026 08:00:00 CEST | Press release
Experienced and accomplished enterprise technology executive to lead the next stage of AI-driven growth for the company’s mission-critical infrastructure software platform Adabas & Natural (A&N) today announced the appointment of Hans Roth as Chief Executive Officer, effective November 1. The appointment marks a defining moment as A&N enters its next chapter positioned for sustained, accelerating growth. Following the carveout of webMethods, StreamSets, Alfabet, Cumulocity, TrendMiner, and ARIS from Software GmbH, A&N is now back to its original roots as the multi-decade leading mission-critical database and infrastructure software suite. Roth joins from Red Hat, where he most recently served as Senior Vice President and General Manager for Europe, Middle East, and Africa (EMEA) and previously led Red Hat’s EMEA services business. Before joining Red Hat, Roth served as Vice President of the service delivery unit at Hewlett-Packard Enterprise for central Europe. “I’m thrilled to help bu
TreviPay Partners with Dynatos to Add e-Invoicing Capabilities to its B2B Payments Infrastructure15.9.2026 07:00:00 CEST | Press release
The partnership brings e-invoicing technology and compliance expertise into TreviPay’s B2B payments infrastructure as requirements expand across Europe and other markets TreviPay, a global B2B payments infrastructure partner, today announced a partnership with Dynatos to expand e-invoicing capabilities for TreviPay clients operating across Europe and other markets. Through the partnership, Dynatos Routty Cloud proposition will provide embedded e-invoicing technology and compliance support, helping TreviPay clients exchange invoices across different formats, networks and country requirements in Europe and other global markets. E-invoicing requirements continue to expand across Europe and other global markets, adding complexity for businesses managing invoices across more than 60 countries with mandates announced or already in place. At the same time, invoicing has become an increasingly important part of the B2B buyer experience. TreviPay research found 68% of B2B buyers are more likely
Meiji Group to Showcase Japanese-Quality CMO/CDMO Services and a Global Manufacturing Network at CPHI Milan 202615.9.2026 07:00:00 CEST | Press release
Meiji Seika Pharma Co., Ltd. (HQ: Chuo-ku, Tokyo; President and CEO: Toshiaki Nagasato) will debut as the Meiji Group’s Pharmaceutical Segment at CPHI Milan 2026, at Fiera Milano, Milan, Italy, October 6–8, 2026. At the exhibition, the Meiji Group’s Pharmaceuticals Segment will showcase 80 years of expertise in Japanese standard quality control, manufacturing, and supply network from Japan to Europe, India, and Southeast Asia. It will also highlight group-wide contract manufacturing, from development to supply, tailored to customer needs. Through the exhibition, Meiji Seika Pharma aims to raise global awareness of the Meiji Group’s Pharmaceutical Segment, its brands, capabilities, production capacity, and contract manufacturing services, and to forge new global partnerships to expand its CMO/CDMO business. “CPHI Milan 2026” Exhibition Overview Exhibition Name: CPHI Milan 2026 Dates: October 6 (Tue) – 8 (Thu), 2026 Venue: Fiera Milano (Milan, Italy) Exhibition Area: CMO Area Booth Numbe
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