Dubai Electricity and Water Authority PJSC Announces Record Breaking First Half 2024 Results
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808038686/en/
Contacts
Shaikha Almheiri
Dubai Electricity and Water Authority
00971552288228
shaikha.almheiri@dewa.gov.ae
(c) 2024 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
Merz Aesthetics Sponsors Symposium Highlighting Market Trends With a Portfolio Approach at the 2025 Aesthetic and Anti-aging Medicine World Congress (AMWC)24.3.2025 08:00:00 CET | Press Release
Merz Aesthetics, the world’s largest dedicated medical aesthetics business, is set to unveil new data on its product portfolio and offer insights into the latest trends in the industry at the 2025 Aesthetic and Anti-Aging Medicine World Congress held in Monaco, France. “Thanks to the scientific profile of our products, our portfolio continues to meet evolving expectations of physicians,” said Dr. Kerstin Olsson, Head of Medical Affairs in EMEA, “from routine procedures to cutting-edge treatments, we’re redefining innovation in the aesthetics industry”. “We recognize that beauty is personal and unique to everyone. We are dedicated to understanding the needs of health care professionals and their patients,” said Gonzalo Mibelli, President, EMEA, Merz Aesthetics. “We look forward to sharing our latest data and vision for the future of medical aesthetics”. Merz Aesthetics’ programming includes a sponsored symposium on March 28 from 14:00 - 16:00, The Evolution of Aesthetics: Foundations, T
Two Young Chefs Have Passed the Japanese Cuisine Certification Exam (Organized by JCDC) and Have Newly Acquired Gold Certification!21.3.2025 15:00:00 CET | Press Release
The Japanese Cuisine and Dietary Culture Development Committee (JCDC) (Location: Minato-ku, Tokyo; Representative: Yoshihiro Murata; Website: https://en.jcdc.tokyo/), which supports and promotes the spread of Japanese food overseas, held a certification exam for foreign chefs in Kyoto. This certification exam is based on the “Guidelines for Certification of Cooking Skills for Japanese Cuisine in Foreign Countries” (enacted on April 1, 2016 / revised on April 1, 2024) established by the Ministry of Agriculture, Forestry and Fisheries (MAFF) of Japan. In this examination, two people from Vietnam, Le Minh Tien and Pham Duc Duy, successfully obtained Gold certification. In addition, the two foreign chefs who came to Japan to participate in the Kyoto final of the “Road to Japanese Culinary Arts Award 2024-2025” hosted by the Japanese Culinary Academy were also certified as Silver. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/2025
DEWA’s General Assembly Approves Dividend Payment of AED 3.1 Billion to Shareholders for H2 of 202421.3.2025 14:34:00 CET | 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), reported that its shareholders have, in the general assembly held on 21 March 2025, approved the payment of total dividend of AED 3.1 billion for H2 of 2024, with a record date of 31 March 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250321365368/en/ During DEWA’s General Assembly (Photo: AETOSWire) The meeting, chaired by HE Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, was attended by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, and Members of the Board of Directors of DEWA as well as 92.2% of the shareholders. During the meeting, a Board of Directors was elected for the next three years. For shareholders who are invested in DEWA’s shares prior to the dividend record date of 31 March 2025 (
Ecolab Delivers on Commitments to Save Water in Historic AI Era21.3.2025 12:00:00 CET | Press Release
Water is the world’s most essential resource, and it’s only grown more critical in the age of AI. During this transformative digital revolution, Ecolab, a global sustainability leader that maximizes growth and performance through water solutions and infection prevention services, has continued to meet its goals and work with customers to deliver profitability while advancing optimized water use. By 2030, it is estimated that AI-related growth will demand additional power equivalent to the annual needs of India1 and as much water to meet the annual drinking water needs of the United States2. As the world navigates the growth of AI and high-tech data centers, there is a unique opportunity to leverage AI to help drive efficiency and innovation in circular water management to improve operational processes and conserve natural resources. Ecolab’s mission to help protect water while driving business growth is more important than ever. “The rapid acceleration of AI technology is increasing de
Galderma Publishes its 2024 Annual Report and the Invitation to Its First Annual General Meeting21.3.2025 07:00:00 CET | Press Release
Galderma Group AG (SIX: GALD), the pure-play dermatology category leader, today published its 2024 Annual Report along with the invitation to its first Annual General Meeting which will be held on April 23, 2025. Galderma’s 2024 Annual Report, the 2024 Finance Report and the invitation to the Annual General Meeting are available on Galderma’s Investor Relations website at https://investors.galderma.com/. About Galderma Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals
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