Le Lézard
Classified in: Business
Subjects: EARNINGS, Photo/Multimedia

Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 2022


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 second quarter 2022 financial results, recording quarterly revenue of AED 7.01 bn and net profit of AED 2.61 bn. For the first half of 2022, DEWA's revenue is AED 12.08 bn and net profit is AED 3.30 bn.

DEWA's first half revenue increase of 15% to AED 12.08 bn was mainly driven by an increase in energy and water demand in Dubai. During the first half of 2022 energy demand increased by 6.3% and water demand by 6.4% compared to the same period in 2021.

Revenue of DEWA's majority owned subsidiary, EMPOWER, was 1,154 million AED and net profit was 432 million AED. DEWA is reviewing the possibility of an IPO of EMPOWER.

"These financial results demonstrate our commitment to a sustainability-focused smart growth, enhancing customer happiness, operational excellence and providing an attractive return for our shareholders. We continue to implement pioneering projects to diversify Dubai's clean and renewable energy sources and achieve our wise leadership's vision for a bright and sustainable future for generations to come," said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

DEWA reiterates its dividend policy and expects to pay a minimum dividend of AED 6.2 billion per year over the next five years. The dividends are intended to be paid twice each fiscal year in April and October. The first dividend payment of AED 3.1 billion is expected in October 2022.

For full second quarter earnings announcement: https://www.dewa.gov.ae/en/investor-relations
or https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA

For investor relations, please contact: dewainvestors@dewa.gov.ae
For media, please contact: media@dewa.gov.ae

Click HERE to download the Video.

*Source: AETOSWire


These press releases may also interest you

at 01:03
The last Boeing 747 left the company's widebody factory in advance of its delivery to Atlas Air in early 2023. "For more than half a...

at 00:48
KONKA Group Co. Ltd. ("the Company"; 000016. SZ), a leading technology company, and MBC GROUP, the largest and leading media company in the Middle East and North Africa (MENA) region, have recently announced a strategic partnership that will allow...

at 00:45
Proactive, provider of real-time news and video interviews on growth companies listed in Australia, has covered the following companies: Bellevue Gold Ltd is a step closer to becoming Australia's next high-grade gold producer after receiving firm...

6 déc 2022
TSX VENTURE COMPANIES BULLETIN TYPE:  Cease Trade OrderBULLETIN DATE:  December 6, 2022TSX Venture Companies A  Cease Trade Order has been issued by the British Columbia and Ontario Securities Commissions on December 5, 2022 against the following...

6 déc 2022
Axon Enterprise, Inc. ("Axon") today announced the pricing of its private offering of $600 million aggregate principal amount of 0.50% Convertible Senior Notes due 2027 (the "Notes") to persons reasonably believed to be qualified institutional...

6 déc 2022
Robert F. Kennedy Human Rights (RFKHR) today held its annual Ripple of Hope Gala which honored exemplary leaders across government, business, advocacy, and entertainment who have demonstrated an unwavering commitment to social change and worked to...



News published on 13 august 2022 at 04:00 and distributed by: