e& reports 60.7% increase in consolidated net profit, reaching AED8.8 billion in H1 2025
e&'s performance reinforces the Group's position as a global technology leader, driving digital transformation at scale across regional and international markets.
Consolidated revenue increased to AED34.9 billion, representing a year-over-year (YoY) growth of 23.3 percent compared to H1 2024.
Consolidated net profit in H1 rose to AED8.8 billion, up 60.7 percent from the previous year.
EBITDA in H1 reached AED15.4 billion, a YoY increase of 18.8 percent with EBITDA margin of 44.1 percent. The Group's subscriber base grew to 198 million globally, marking a 13.1 percent increase year-over-year.
In the UAE, e& UAE subscribers reached 15.5 million, driven by rising demand for advanced connectivity solutions, AI-powered services, and tailored digital experiences that address the evolving needs of both individuals and businesses.
Jassem Mohamed Bu Ataba Alzaabi, Chairman, e&, said, 'In the first half of 2025, e& continued to strengthen its leadership position, driven by its strategic investments and robust business model. Our continued strong performance reflects our commitment to long-term value creation, with major milestones reflecting the Board's strategic foresight.
'In H1, e& continued its growth trajectory, and alongside our outstanding financial performance, we maintained our focus on bringing the latest technologies to best serve our customers. We launched the UAE Sovereign Cloud Launchpad alongside AWS and the UAE Cybersecurity Council. This landmark initiative advances national priorities around digital sovereignty, secure AI, and cloud innovation, and is set to unlock enduring value for the nation's digital economy.
'Thanks to the UAE's visionary leadership that inspires us, e& will continue enabling the knowledge economy with responsibility and ambition. We remain committed to shaping resilient, inclusive, and innovation-led societies across the markets we serve.'
Hatem Dowidar, Group Chief Executive Officer, e&, stated, 'e& delivered strong performance in the first half of 2025, reflecting our agility, innovation, and ability to scale. We preserved the momentum witnessed across our different verticals. Our diverse revenue streams enabled the group to drive financial success and deliver robust operational growth. These results demonstrate the strength of our transformation strategy and our continued focus on operational excellence and value creation.
'We achieved a series of strategic milestones, including the divestment of Khazna and partial divestment of Airalo during the first half of the year, which enhanced our financial flexibility. In parallel, we introduced the UAE Sovereign Cloud Launchpad, reinforcing our focus on secure, sovereign AI solutions. We also became one of the first companies to earn the 'Tier S' designation under the Dubai AI Seal, a top-level recognition of our leadership in responsible AI development and deployment. Additionally, we advanced our international footprint through the acquisition of Serbia Broadband, while our collaboration with Qualcomm is accelerating 5G evolution and edge AI integration across key industries.
'Our progress was further recognised internationally, with e& named the world's Fastest Growing Brand by Brand Finance. This recognition reflects our bold ambition, customer-centric innovation, and growing global presence.
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Emirates 24/7
32 minutes ago
- Emirates 24/7
Dubai Electricity and Water Authority PJSC reports a record AED 14.6 billion in revenue for the first half of 2025
Record H1, 2025 Results AED 14.6 bn AED 7.0 bn AED 3.7 bn AED 2.9 bn AED 9.2 bn +6.9% YoY +5.3% YoY +12.6% YoY +13.2% YoY +61.3% YoY H1, 2025 Revenue H1, 2025 EBITDA H1, 2025 Operating Profit H1, 2025 Profit After Tax H1, 2025 Operating Cash * figures are rounded Record Q2, 2025 Results AED 8.6 bn AED 4.5 bn AED 2.9 bn AED 2.4 bn AED 5.3 bn +9.8% YoY +11.9% YoY +24.8% YoY +25.8% YoY +120.1% YoY Q2, 2025 Revenue Q2, 2025 EBITDA Q2, 2025 Operating Profit Q2, 2025 Profit After Tax Q2, 2025 Operating Cash * figures are rounded 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 first half 2025 consolidated financial results, recording first half revenue of AED 14.6 billion, EBITDA of AED 7.0 billion, operating profit of AED 3.7 billion, net profit of AED 2.9 billion and cash from operations of AED 9.2 billion. Quote 'DEWA is committed to be an innovative and sustainable corporation inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. Under their guidance, we are progressing in our journey towards Net Zero Carbon by 2050 and will continue to play a decisive role in Dubai's rapid progress,' said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA. 'We are proud to report DEWA's strongest-ever financial results for both the 2nd quarter and first half of 2025 - a reflection of disciplined execution, growing demand, and our commitment to operational excellence. In H1 2025, we achieved AED 14.6 billion in revenue, AED 7.0 billion in EBITDA, and AED 2.9 billion in net profit - marking growth of 6.9%, 5.3%, and 13.2% respectively. Operating cash flow reached a record AED 9.2 billion, up 61.3% year-on-year. Also, we approved a dividend of AED 3.1 billion for H1, 2025, which is payable in October, 2025. To date we have invested over AED 230 billion in state-of-the-art infrastructure. Our results demonstrate the resilience of our model and the ability to generate strong returns while advancing Dubai's sustainable development. Looking ahead, we expect consistent value creation for our stakeholders, supported by Dubai's economic growth, our robust business model and our sector leading operational benchmarks that are acknowledged to be No 1 globally.' added Al Tayer. Financial performance summary DEWA delivered a record financial and operational performance for the six months ended 30 June 2025. Revenue rose by 6.9% year-on-year to AED 14.6 billion, driven by continued growth in electricity and water demand, as well as steady expansion in district cooling through Empower. EBITDA increased by 5.3% to AED 7.0 billion, supported by improved operating efficiencies and effective cost control across core segments, highlighting the Group's strong underlying profitability. Net profit for the period grew 13.2% to AED 2.90 billion, reflecting higher operating income, and decline in net finance costs by 15.45% compared to the same period in the previous year. Capital expenditure during the period totalled AED 4.6 billion, covering investment in generation capacity, transmission networks and district cooling infrastructure. DEWA expects stronger revenue and profit contribution in the second half of the year, considering the seasonal pattern of our business. The Group remains focused on delivering long-term growth through strategic investments in clean energy, digital infrastructure, and water desalination, in alignment with Dubai's Green Economy vision. DEWA continues to demonstrate financial resilience, operational excellence, and consistent value creation for its stakeholders. Operating performance summary In the second quarter of 2025, DEWA's total energy generation Including Energy import from IPPs soared to a high of 16.9 TWh marking a 10.88% increase from the 15.3 TWh recorded during the second quarter of 2024. Notably, DEWA generated 3.3 TWh of clean energy during the quarter. This clean energy accounted for 19.46% of the total energy generated in Q2, 2025. DEWA is committed to using clean energy to maintain a sustainable generation mix to meet the consistently growing demand. In addition, DEWA delivered 2.18 TWh from Hassyan power plant and 11.46 TWh from its remaining generation portfolio during the second quarter of 2025. DEWA experienced a 2.95% increase in its quarterly peak power demand compared to Q2, 2024, reaching 10.545 GW. The quarterly gross heat rate of 7,693 BTU/kWh achieved, represents a stellar 7.01% improvement over the same period from the previous year. Collectively, these achievements highlight the company's unwavering commitment to delivering operational excellence while facing very strong top line demand. DEWA's total desalinated water production in the second quarter of 2025 grew by 9.55% compared to the previous year, reaching a record of 40.78 billion Imperial Gallons (BIG). The peak daily desalinated water demand reached 475 MIG which is a 5.87% increase over the same period of the previous year. At the end of the second quarter of 2025, DEWA served 1,292,487 customer accounts, representing a 4.81% increase in customer accounts from the same period in the last year. Select quarterly highlights In the second quarter of 2025, DEWA commissioned two 132 kV substations, and four hundred and eighty three 11kV substations. By the end of the first half of 2025, the company's system installed generation capacity reached 17.979 GW with 3.860 GW of this capacity representing renewable energy. The company's installed desalinated water production capacity was 495 MIGD. DEWA Total Installed Capacity as of June 30th, 2025 Generation Plant Capacity (MW) Desalination Type MIGD Jebel Ali & Al Aweer 11,519 Jebel Ali Multi-stage Flash 427 Mohammed bin Rashid Al Maktoum Solar Park 3,860 Jebel Ali Reverse Osmosis 63 Hassyan Power Plant 2,400 Palm Jumeirah Sea Water Reverse Osmosis 5 Warsan Waste Management Center 200 Total 17,979 Total 495 By the end of 2030, DEWA plans to have total installed power generation capacity of 22 GW and 735 MIGD of desalinated water. Of this 22 GW, around 7.5 GW will be from renewable sources, representing 34% and out of 735 MIGD water production capacity, 308 MIGD will be using reverse osmosis technology utilizing renewable energy. Corporate Actions: Dividends & Dividend policy As per DEWA's dividend policy, the Company expects to pay a minimum annual dividend of AED 6.2 billion in the first five years starting October 2022. The dividends are paid semi-annually in April and October. On 10th April 2025, DEWA distributed AED 3.1 billion as dividend for H2, 2024 to its shareholders, based on a record date of 3rd April 2025. For H1, 2025, DEWA has sought and received approvals to distribute AED 3.1 billion to its shareholders based on a record date of 17th October, 2025. Audited Financials DEWA's audited financials can be found at DEWA's website: or on DFM's website Contacts About Dubai Electricity and Water Authority PJSC DEWA was created in 1992 as a result of the merger of the Dubai Electricity Company and the Dubai Water Department. DEWA is the exclusive electricity and water utility provider in Dubai. DEWA was listed on the Dubai Financial Market in April 2022. DEWA's attractive business profile, as viewed by investors, has led to the historic success of this public listing that attracted US$ 85 billion demand and 37 times oversubscription. The Group generates, transmits and distributes electricity and potable water to end users throughout Dubai. DEWA owns 56% of Empower, currently the world's largest district cooling services provider by connected capacity, and owns, manages, operates and maintains district cooling plants and affiliated distribution networks across Dubai. The Group also comprises several other businesses including Mai Dubai, a manufacturer and distributor of bottled water, Digital DEWA, a digital business solutions company, and Etihad ESCO, a company focused on the development and implementation of energy efficient solutions. To learn more, visit Cautionary statements relevant to forward-looking information This news release contains forward-looking statements relating to DEWA's operations that are based on management's current expectations, estimates and projections about the energy industry and other relevant industries that DEWA operates in. Words or phrases such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'targets,' 'forecasts,' 'projects,' 'believes,' 'seeks,' 'schedules,' 'estimates,' 'positions,' 'pursues,' 'may,' 'could,' 'should,' 'will,' 'budgets,' 'outlook,' 'trends,' 'guidance,' 'focus,' 'on schedule,' 'on track,' 'is slated,' 'goals,' 'objectives,' 'strategies,' 'opportunities,' and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, DEWA undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
The National
2 hours ago
- The National
How 2,800 shekels become 1,350: Gazans pay high price to turn bank deposits into hard cash
In the shadow of war, economic collapse and severe shortages of food and other essentials, civilians in Gaza face an additional challenge in the struggle to survive: the rocketing cost of accessing their own money. With banks closed because of the conflict and digital payments widely rejected in local markets, Palestinians are forced to rely on an informal and increasingly predatory trade in physical currency, with commission rates as high as 55 per cent. 'I get paid 2,800 shekels [$817] a month from the Palestinian Authority,' said Kamel Abu Hazaa, 42, who was displaced from Jabalia and now lives in Al Nasr area of Gaza city. 'But after cashing it out, I receive only about 1,350 shekels. The rest? Gone, to liquidity traders and middlemen. "Even if I had the full amount, it wouldn't be enough. Flour costs 30 shekels a kilo, sugar is 200. The prices are insane." Businessmen, flush with cash earned before the war began in October 2023, now control the flow of physical currency. Given the risk of storing large amounts of money while banks are closed, they offload portions of it through a chain of intermediaries, who in turn sell it at a high mark-up to desperate civilians. Buyers receive cash after transferring funds to the traders electronically. But those who profit from the system do not consider themselves to be the villains. A small-scale cash trader operating in Gaza city said the system was deeply flawed, but insisted the responsibility lay with "big traders" who control the supply and set the rates. "We add maybe six to 10 per cent just to survive. But the ones above us? They want 45 per cent, sometimes more," he told The National. 'Today, I bought cash at a 43 per cent commission and had to sell it at 52 per cent just to make a living. We small traders don't even know who the big players are – the cash reaches us through intermediaries.' Moamen Al Gharbawi, 35, said his brothers living abroad send the family $700 a month. But he has been unable to convert that into cash because of the prices charged by currency traders. 'Last month, the commission was 38 per cent. This week, it's gone up to 55 per cent,' said Mr Al Gharbawi, who lives in the Sheikh Radwan area of Gaza city, after being displaced from Jabalia Camp. "More than half of what they send is lost and we're a family of eight. We don't have food. My elderly parents need special, healthy food that I can't afford "Liquidity traders are bleeding us dry. There's no one watching them, no one stopping them." Abdullah Sharshara, a legal researcher and civil society activist in Gaza, said the practice was unethical and illegal. 'Some say there's no legal basis to stop it,' he told The National. 'That's nonsense. The most basic legal foundation is that those trading liquidity are clearly violating the terms of the bank account agreement. It's a breach of Palestinian law and a flagrant exploitation of a broken system.' Mr Sharshara called for the Palestinian Monetary Authority to take immediate action, including freezing the accounts of those involved in the trade and reopening the banking system, ensuring it is organised and secure. "Major traders must be forced to inject liquidity back into the market through legitimate channels," he added. "Without oversight, the black market cash trade will only deepen people's suffering." While the trade in currency arose from the breakdown of formal banking, Gazans and experts agree that it has become a tool of exploitation in the hands of opportunists. 'People are desperate,' Mr Abu Hazaa said. 'They'll accept any rate just to put food on the table. But every day traders raise the percentage, and no one holds them accountable.'
Zawya
3 hours ago
- Zawya
Etihad Rail will open up new real estate hubs, says expert
The Etihad Rail network will transform the UAE's economic landscape by boosting connectivity, reducing travel times, and driving genuine demand in emerging markets, says a UAE property expert. Etihad Rail benefits will extend far beyond real estate, creating new corridors for living, trade, and investment across the Emirates, said Firas Al Msaddi, CEO of fäm Properties. 'When we saw Sheikh Mohammed riding the Etihad Rail from Dubai to Fujairah, that wasn't just a symbolic moment - that was the announcement of a new real estate era in the UAE,' said Al Msaddi. 'It represented a once-in-a-generation infrastructure shift that will redefine how value is created, captured, and capitalised across the Emirates," he said. 'We're not just talking about transportation. We're talking about speed, interconnectivity, and productivity, and how all of that compresses space and time. And when you compress space and time, you reduce opportunity cost. That's where the real value is unlocked. 'Etihad Rail isn't just a train, it's a full-scale economic reset for the UAE. It will shift demand patterns, eliminate bottlenecks, and open up new corridors for living, trade, and investment.' Added Msaddi: 'Each emirate has always had something unique to offer. But until now, the opportunity cost of movement, whether for people, goods, or capital, has been too high. 'Etihad Rail changes that. When you cut travel time from 2 hours to 50 minutes between cities, you don't just save time, you reshape where people choose to live, work, and invest. 'What used to be too far is suddenly next door. Fujairah is no longer the end of the UAE, it's the Eastern gateway. Al Ain becomes a realistic base for remote professionals who can now be in the capital or the coast in under an hour. This creates a complete re-pricing of land value, not based on geography, but based on accessibility.' Al Msaddi cites the example of Japan's bullet train between Tokyo and Osaka, which transformed cities like Nagoya in just five years. 'Commercial land values rose over 40%, and housing demand surged more than 60%,' he said. 'It wasn't about the train itself, but the economic flow unlocked by faster travel. 'The UAE is applying that same model, but with one major advantage: it's building the world's most advanced, tech-enabled rail system from the ground up, with no legacy constraints.' Pointing to the impact on logistics, B2B supply chains, and the decentralisation of corporate ecosystems, Al Msaddi says the equation most investors overlook is that faster travel means more meetings and more transactions. 'A salesperson based in Sharjah can now close deals in Abu Dhabi and Dubai without losing six hours to traffic,' he says. 'That boosts output. Multiply that across the commercial class, and you start seeing real GDP impact.' Al Msaddi says Etihad Rail's impact will see land prices rise in tier-2 cities like Fujairah, Al Dhaid, and Ruwais, because better connectivity will drive real demand. 'Transit-oriented hubs will rise near stations like Sharjah's University City and Sakamkam in Fujairah, with walkable, mixed-use clusters,' he says. 'Second-home markets will shift too. For families in Dubai, weekend beach units in Fujairah become practical when they're under an hour away. 'Those who still price real estate based on maps instead of travel-time analytics will lose money. Those who study station locations the way they used to study masterplans will build generational wealth,' he said. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
