Dubai Electricity and Water Authority just announced incredibly strong financial results. The utility company proudly reported a record net profit of AED 3.33 billion. This marks a massive 15 percent increase compared to the previous year. DEWA recorded its highest-ever first-half revenue, reaching an impressive AED 14.86 billion. Operating profit and overall EBITDA also reached their highest historical levels recently.

Driving the Growth

Sustained demand for electricity, water, and cooling services drove these impressive numbers. The Dubai-listed utility also experienced continued customer growth and highly disciplined operational performance. Saeed Mohammed Al Tayer serves as the CEO and Managing Director. He happily praised the company for delivering these record-breaking financial results. The utility smoothly added 18,220 new customer accounts during the busy second quarter alone.

Clean Energy Focus

DEWA generated 15.78 terawatt-hours of electricity during the highly productive second quarter. Clean power accounted for nearly 20 percent of this total generation. The company operates an impressive installed generation capacity of 17,979 megawatts currently. Clean energy sources provide 3,860 megawatts directly to the overall energy mix. They also successfully commissioned a massive new seawater reverse osmosis desalination plant.

These fantastic results reflect the robust strength of the rapidly growing Dubai economy. DEWA plans to distribute a highly generous AED 3.1 billion dividend in October. The company guarantees a minimum annual dividend of AED 6.2 billion. They faithfully distribute these payments to shareholders in April and October each year.

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