logo
DEWA announces record quarterly revenue of AED 5.96 billion and quarterly Cash from Operations of AED 3.85 billion

DEWA announces record quarterly revenue of AED 5.96 billion and quarterly Cash from Operations of AED 3.85 billion

Mid East Info13-05-2025

Dubai, United Arab Emirates: Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai's exclusive electricity and water services provider, listed on the Dubai Financial Market (DFM), reported its first quarter 2025 consolidated financial results, recording quarterly revenue of AED 5.96 billion, EBITDA of AED 2.43 billion, operating profit of AED 838 million and net profit of AED 496 million. The company also generated a record net cash from operations of AED 3.85 billion resulting in closing cash and cash equivalents of AED 8.17 billion, which is AED 2.07 billion higher than the balance as at year-end 2024.
'We are progressing in our journey to Net Zero by 2050 and will continue to play a decisive role in Dubai's rapid progress. With consistent growth in demand for electricity, water and cooling services, our revenue grew by 2.83% to AED 5.96 billion in the quarter and more notably our net cash flow from operations grew to AED 3.85 billion, which is 17.86% higher than the amount in the same period of the previous year. Our financials reflect a healthy operating profit of AED 838 million in the quarter, and an EBITDA of AED 2.43 billion. We invested AED 2.26 billion in infrastructure during the quarter, mainly related to our energy transition strategy,' said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA.
In Q1 2025, DEWA generated 10.50 TWh, a 2.83% increase over the same period in 2024. During this quarter clean power generated was 1.86 TWh, contributing 17.7% to the overall power generation. Simultaneously, desalinated water production in Q1 reached 35.61 BIG, a 4.56% increase. DEWA increased its customer base by an impressive 11,614 customer accounts during the quarter. In the last twelve months, ending with the first quarter of 2025, the total number of customer accounts increased by 57,339, representing yearly growth of 3.7%
By the first quarter of 2025, the Company's system installed generation capacity was 17,579 MW with 3,460 MW of this capacity coming from clean energy sources which represents 20% from the energy mix. By 2030 we expect total installed generation capacity to reach 22 GW, out of which 7.5 GW, representing 34% of generation mix, will be sourced from clean energy sources.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

After the success of Tower A, HRE Development launches Tower B of SkyHills Astra in response to soaring demand
After the success of Tower A, HRE Development launches Tower B of SkyHills Astra in response to soaring demand

Mid East Info

time2 hours ago

  • Mid East Info

After the success of Tower A, HRE Development launches Tower B of SkyHills Astra in response to soaring demand

The stunning residential complex in Dubai Science Park boasts state-of-the-art amenities, skyline views, and embodies the company's ethos of 'building with purpose. Dubai, UAE: Following the overwhelming success of Tower A, and due to soaring demand, HRE has launched Astra Tower B at the stylish SkyHills Astra, strategically located in Dubai Science Park. SkyHills Astra has garnered attention for its elegant design and exceptional accessibility, featuring a connection to a metro station and a prime location opposite Dubai Hills Estate. The building offers a range of amenities to cater to every taste, including a gym, yoga retreat, padel court, pools, and a unique dual-track podium over 500 metres, which provides one lane for running and another for grounding. Each residence comes fully furnished with an attractive payment plan directly from the developer. HRE Development has partnered with Dubai Cares, committing AED 30 million to support its global education programs. That means residents will enjoy state-of-the-art amenities and breathtaking views – all while knowing their investment positively impacts children's education in developing countries. Personalised certificates from Dubai Cares will acknowledge each resident's contribution to this cause. 'Opening Tower B highlights the community's amazing response to our vision,' said Wissam Breidy, CEO of HRE Development. 'The high demand for beautifully designed residences offering a holistic lifestyle has led to this expansion, providing more opportunities for buyers to invest in a purpose-driven community.' About HRE Development: HRE Development L.L.C., founded in 2021 and backed by a leading construction firm, has quickly established a reputation for excellence in shaping Dubai's skyline. With a focus on creating exceptional living spaces, HRE Development has completed over 200 projects, positively impacting approximately 12,000 families. Built on trust, integrity, and a commitment to quality and innovation, HRE Development blends aesthetics with functionality in its state-of-the-art designs. Sustainability is central to its projects, utilising eco-friendly materials and innovative practices to minimize environmental impact. By incorporating the latest technology, HRE creates smart living spaces that enhance residents' quality of life and foster vibrant communities. Beyond financial success, HRE Development is dedicated to creating social value through integrated social initiatives and a strong commitment to Corporate Social Responsibility, including an AED 30 million partnership with Dubai Cares to support education in developing countries. About Dubai Cares: Since 2007, Dubai Cares, part of Mohammed bin Rashid Al Maktoum Global Initiatives, has aimed to provide quality education for children and youth in developing countries through sustainable programs. It has benefited over 116 million individuals in 60 countries. Supporting the United Nations Sustainable Development Goal (SDG) 4, Dubai Cares focuses on early childhood development, access to education, vocational training, and education during emergencies. It employs a school health model that includes deworming, school feeding, and WASH (Water, Sanitation & Hygiene) initiatives. As a registered non-government organization under IACAD, Dubai Cares is authorized to raise funds through donations and campaigns. Volunteerism is crucial for engaging the community in addressing development challenges, and Dubai Cares mobilizes the UAE community through various initiatives aligned with its mission.

Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing
Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing

Tahya Masr

time5 days ago

  • Tahya Masr

Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing

Nasdaq Dubai welcomed Mashreq's (''Mashreq'' or ''the Bank'') debut listing on the exchange with the admission of a USD 500 million Sukuk issued by Mashreq Al Islami Sukuk Company Ltd . The Trust Certificates, due in 2030, were issued under Mashreq's USD 2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform. Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Abdul Aziz Al Ghurair, Chairman of Mashreq, commented: "This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets . Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said: 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'This listing reflects Mashreq's growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem. This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence, and was followed by a string of issuances, thereby helping to reopen the market for regional issuers. The transaction attracted significant investor interest, resulting in an orderbook of USD 2.9 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting the strength and quality of the orderbook and strong investor confidence in Mashreq's credit fundamentals. With broad participation from over 90 global investors across the Middle East, Europe and Asia, the issuance reaffirms Mashreq's leadership in Islamic finance and reinforces Dubai's growing stature as a global hub for Sharia-compliant capital markets. With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached USD 97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over USD 140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE's capital markets, as well as the growing appeal of Dubai as a gateway for regional and international investment.

Dubai real estate market shatters records with historic AED66.8 bn of transactions in May 2025, Property Finder reveals
Dubai real estate market shatters records with historic AED66.8 bn of transactions in May 2025, Property Finder reveals

Mid East Info

time5 days ago

  • Mid East Info

Dubai real estate market shatters records with historic AED66.8 bn of transactions in May 2025, Property Finder reveals

Dubai's real estate market delivered AED66.8 billion in sales transactions across 18,700 deals last month, solidifying the emirate's position as a global real estate powerhouse Primary ready sales reached AED17.9 billion, a 314% increase in value over last year, across 2,400 transactions, clocking up 145% growth. Secondary ready sales also reached a new peak, with 6,078 transactions worth AED24 bn, representing 8% growth in volume and 21% year-over-year growth in value, underscoring strong and sustained demand in the resale market. DUBAI, UNITED ARAB EMIRATES,June 2025: Property Finder, the leading property portal in the MENA region, has released its market performance highlights for May 2025, highlighting yet another month of record-breaking activity. Dubai's real estate market witnessed AED66.8 billion in sales transactions across 18,700 deals last month, Property Finder's proprietary data reveals. This historic achievement represents a staggering 44% year-over-year surge in transaction value and a solid 6% increase in volume, signalling robust market confidence and sustained investor appetite for Dubai properties. The performance was driven by strong growth in ready transactions, for both primary and secondary segments. Primary ready sales more than quadrupled compared to May 2024, reaching AED17.9 billion. This represented a 314% increase in value across 2,400 transactions and a 145% growth. Secondary ready sales also reached a new peak, with 6,078 transactions worth AED24 billion, representing 8% and 21% year-over-year growth in volume and value, respectively, underscoring strong and sustained demand in the resale market. Key data highlights: Primary market continues its dominance: Overall, primary ready and off-plan sales skyrocketed, rising by 65% year-over-year to reach AED 37 billion in May 2025. Secondary market shows resilience: Overall, the secondary sales market set a new record in May 2025, with AED 29 billion in transaction value and 8,471 transactions, up 23% and 15% year-over-year, respectively. Strategic investment hotspots: Business Bay emerged as a premium investment magnet, capturing 5% of total primary transaction value despite representing only 3% of volume, indicating high-value, sophisticated investment activity. Al Barsha demonstrated broad market appeal, accounting for 2% of total value while commanding 5% of transaction volume, showcasing strong demand across price points. A notable AED 1.5 billion land transaction in Palm Deira further underscored institutional confidence in Dubai's long-term growth trajectory, bolstered by strong resale activity in key communities such as Business Bay, Al Barsha, and Wadi Al Safa 3. Consumer behaviour trends: Consumer preferences have stayed steady for the past one year, with apartments dominating demand from home seekers, representing 78% of rental searches and 60% of buyer interest. While studios attracted 21% of rental searches and only 15% of purchase interest, one-bedroom units commanded 35% of purchase searches and 38% of rental searches. This imbalance could potentially suggest that while studios are more attractive for budget-conscious renters, buyers tend to prioritise larger units, due to perceived long-term value, livability, or investment potential. Cherif Sleiman, Chief Revenue Officer at Property Finder, said, 'Just when we thought April was Dubai's most significant month in terms of transaction value at AED62.1 bn, May eclipsed this with AED66.8 billion in transaction value. This underscores the sustainability of the trends driving current growth. Dubai continues to lead real estate innovation by example, as evidenced by the recent launch of the region's first licensed tokenized property investment platform by Dubai Land Department. With the remarkable growth in population this year, welcoming nearly 1,000 new residents each day – double of last year's daily visitor arrivals, demand for housing is poised to reach peak levels. Against this backdrop, the real estate market is enjoying positive momentum, fuelled by digital transformation, international investor appetite, and a surge in demand for premium living. Real estate leaders who participated in Property Finder's recent roundtable are confident of transaction activity picking up throughout 2025, buoyed by unprecedented interest from international investors, alongside a strong off-plan performance and vibrant luxury resale activity. These trends speak to the city's enduring appeal and resilience, even amid global uncertainty. As Dubai shapes the future of real estate, Property Finder remains committed to empowering buyers and investors with the insights they need to move with confidence.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store