Dubai Electricity and Water Authority PJSC (Dewa), the sole provider of electricity and water services in the emirate of Dubai and listed on the Dubai Financial Market (DFM), announced on Tuesday cumulative revenue of Dh23.5 billion, Ebitda of Dh11.8 billion, and net profit after tax of Dh5.5 billion for the first nine months.
Dewa's third-quarter consolidated revenue saw a 4.75% increase to Dh9.9 billion in 2024. The company's Ebitda for the third quarter stood at Dh5.1 billion, while cash from operations surged by 34.20% to Dh5.9 billion. Dewa's consolidated revenue for the first nine months of 2024 rose by 6.20% to a record Dh23.5 billion, primarily driven by heightened demand for electricity, water, and cooling services.
The consolidated Ebitda for the first nine months increased by 4.71% to Dh11.8 billion. "We are committed to supporting Dubai's vision for a sustainable future in line with the Dubai Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050. Dewa will continue to deliver robust shareholder value through efficient operations, consistent dividends, and aiding Dubai's transition to a green economy," stated Saeed Mohammed Al Tayer, MD & CEO of Dewa.
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