Dubai Electricity and Water Authority Reports Record Revenue for First Nine Months of 2024
Dubai Electricity and Water Authority PJSC (DEWA), the exclusive provider of electricity and water services in Dubai and listed on the Dubai Financial Market (DFM), announced its highest-ever top-line results for the first nine months of 2024. DEWA reported a record revenue of AED 23.5 billion, a 6.2% increase, with an EBITDA of AED 11.8 billion and net profit after tax reaching AED 5.5 billion.
HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, highlighted, “Our 6.2% revenue growth reflects Dubai’s continued economic expansion and our dedication to operational excellence and sustainability, aligned with the Dubai Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050.”
In Q3 2024 alone, DEWA's revenue grew by 4.75% to AED 9.9 billion, with an EBITDA of AED 5.1 billion. Cash from operations increased significantly by 34.2% to AED 5.9 billion, driven by rising demand for electricity, water, and cooling services. DEWA remains committed to supporting Dubai’s green economy transition and delivering strong shareholder value through efficient operations and consistent dividends.
