Dubai Electrical energy and Water Authority PJSC (ISIN: AED001801011) (Image: DEWA), Dubai’s sole supplier of electrical energy and water providers, listed on the Dubai Monetary Market (DFM), has reported record-breaking monetary outcomes for the primary 9 months of 2024. DEWA’s income reached AED 23.5 billion, marking a 6.20% year-over-year improve, whereas EBITDA grew to AED 11.8 billion, up by 4.71%.
Quote from HE Saeed Mohammed Al Tayer, MD & CEO of DEWA:
“Guided by the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the directives of Dubai’s management, DEWA is dedicated to operational excellence, sustainable progress, and innovation. Our file income progress and EBITDA mirror Dubai’s dynamic progress and DEWA’s concentrate on effectivity and sustainability, aligning with the Dubai Clear Power Technique 2050 and the Internet Zero Carbon Emissions Technique 2050. DEWA stays devoted to delivering robust shareholder worth, constant dividends, and supporting Dubai’s transition to a inexperienced economic system.”
Key Monetary Highlights (9 Months Ended September 30, 2024):
- Income: AED 23.5 billion (+6.20% YoY)
- EBITDA: AED 11.8 billion (+4.71% YoY)
- Money from Operations: AED 11.6 billion (+17.83% YoY)
- Dividends: AED 3.1 billion paid to shareholders in October 2024
Q3 2024 Monetary Abstract:
- Income: AED 9.9 billion (+4.75% YoY)
- EBITDA: AED 5.1 billion
- Money from Operations: AED 5.9 billion (+34.20% YoY)
Operational Milestones in Q3 2024
- Electrical energy Era: 19.6 TWh, of which 9.18% got here from clear vitality.
- Water Manufacturing: 40.5 billion Imperial Gallons (BIG), marking a 4.64% YoY improve.
- Buyer Accounts: 1,250,288, representing a 4.16% YoY progress.
Growth and Sustainability Targets
DEWA’s put in electrical energy technology capability stood at 16.779 GW, with 17% derived from renewable sources. The corporate goals to succeed in a 20 GW capability by 2030, together with 5.3 GW from clear vitality sources, and plans to develop desalination capability to 735 MIGD, with 240 MIGD powered by reverse osmosis know-how.
Dividend Coverage and Shareholder Returns
In alignment with its dividend coverage, DEWA anticipates paying AED 6.2 billion yearly over 5 years. DEWA distributed AED 3.1 billion to shareholders in October 2024.
About Dubai Electrical energy and Water Authority PJSC
Based in 1992, DEWA is Dubai’s unique supplier of electrical energy and water providers. Listed on the DFM since April 2022, DEWA operates the biggest district cooling providers community globally and encompasses subsidiaries similar to Mai Dubai, Digital DEWA, and Etihad ESCO.
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