Latest news with #AED14.6
Arabian Post
2 days ago
- Business
- Arabian Post
DEWA reports record financial results for H1 2025
Dubai Electricity and Water Authority has unveiled its strongest-ever financial performance for the first half of 2025, with significant growth across all key metrics. The company achieved an impressive revenue of AED14.6 billion, an EBITDA of AED7.0 billion, and a net profit of AED2.9 billion, marking notable year-on-year increases. DEWA's results for H1 2025 reflect the effectiveness of its ongoing investments in infrastructure, as well as its ability to meet increasing demand. The utility reported a 6.9% increase in revenue, a 5.3% rise in EBITDA, and a substantial 13.2% jump in net profit compared to the same period in the previous year. Operating cash flow saw the most dramatic increase, soaring 61.3% year-on-year, reaching a record AED9.2 billion. Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, attributed this success to the company's unwavering commitment to operational excellence and strategic investments. 'These results are a reflection of our disciplined execution and our dedication to meeting the growing demands of the UAE's development,' Al Tayer stated. ADVERTISEMENT The results also signal strong momentum within the UAE's power and water sector, with DEWA at the forefront of meeting the country's sustainable development goals. Over the years, the utility has focused heavily on modernising its infrastructure, and this has paid dividends, both financially and operationally. A key factor in DEWA's performance is its ongoing commitment to expanding and improving its infrastructure. To date, the company has invested over AED230 billion in state-of-the-art infrastructure, which has played a crucial role in supporting both growth in demand and the delivery of services to a rapidly expanding population. The company's investments are not just limited to its core areas of electricity and water supply but also extend to renewable energy projects and smart grid technologies. Looking ahead, DEWA remains focused on ensuring the resilience of its systems as it anticipates continued demand growth in the UAE. The company has laid out plans for substantial investment in sustainable energy and efficiency projects. It is currently involved in various renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park, which is poised to become one of the largest single-site solar parks in the world upon completion. The record financial performance also reflects DEWA's success in its commercial strategy, which includes diversification beyond traditional power and water services. The company has been exploring new revenue streams by expanding its portfolio of innovative services, including smart water and energy solutions, and has also capitalised on the growing interest in sustainability. As part of its strategy, DEWA has launched several digital transformation initiatives, including smart metering systems, which enable the utility to enhance its service delivery and improve operational efficiency. DEWA has approved a dividend of AED3.1 billion for H1 2025, which will be paid in October. This demonstrates the utility's strong financial health and its commitment to delivering value to its stakeholders, including both government and private investors. The company's ability to generate strong cash flow and maintain profitability despite the challenges faced by the broader energy sector further underscores its resilience. As one of the largest and most influential utilities in the Middle East, DEWA plays a critical role in supporting the UAE's ambitious economic diversification plans. Its growth and operational success will be instrumental in enabling the country to meet its sustainability targets, including those related to clean energy and carbon neutrality by 2050.
News18
2 days ago
- Business
- News18
UAE: DEWAs profit after tax hits AED2.9 billion
Dubai [UAE], August 8 (ANI/WAM): Dubai Electricity and Water Authority (DEWA), today reported its first half 2025 consolidated financial results, recording first half revenue of AED14.6 billion, EBITDA of AED7.0 billion, operating profit of AED3.7 billion, net profit of AED2.9 billion and cash from operations of AED9.2 billion. Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, said, '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, AED7.0 billion in EBITDA, and AED2.9 billion in net profit – marking growth of 6.9%, 5.3%, and 13.2% respectively. Operating cash flow reached a record AED9.2 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 AED230 billion in state-of-the-art infrastructure."He added, '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."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 AED14.6 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 AED7.0 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 AED2.90 billion, reflecting higher operating income, and a decline in net finance costs by 15.45% compared to the same period in the previous 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 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 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 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 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. (ANI/WAM)
Trade Arabia
11-02-2025
- Business
- Trade Arabia
du reports 7.3% revenue growth in 2024 to $3.97bn
Emirates Integrated Telecommunications Company (du) reported a revenue growth of 7.3% to AED14.6 billion ($3.97 billion) in 2024 on the back of strong market position and revenue diversification. The company's net profit grew 49.1%, reaching a record AED2.5 billion ($680 million), underscoring its ability to drive both top-line expansion and bottom-line improvement, du said. Exceptional profitability was achieved with EBITDA increasing by 11.6% to AED6.5 billion, EBITDA margin up by 1.7pp to 44.2% . 'Our strong financial performance and robust balance sheet enabled the board to recommend distributing 34 fils per share as the final dividend for 2024, taking our 2024 dividend to 54 fils per share, the highest dividend in the history of du and the maximum amount of dividends per share allowed by our dividend policy,' the company said. Malek Sultan Al Malek, Chairman, commented: 'In 2024, we made significant progress in our transformation journey from a traditional telecom operator to a comprehensive digital services provider, supported by UAE's resilient economy and ambitious digital agenda. The introduction of the du Tech and du Infra sub-brands enhances our B2B service offerings and caters more effectively to specific market segments. The launch of du Pay challenges the status quo, promoting financial inclusion, accessibility and security. 'Our mobile and fixed network, supporting close to 10 million subscribers, is forming the backbone of the UAE's digital economy, highlighting the success of our customer-centric and digital-first approach. We continue introducing new-generation technologies and forming strategic partnerships with global tech leaders to become the partner of choice of businesses in their digital transformation journey. 'Our focused strategy execution translated into exceptional financial performance in 2024, marked by strong revenue and profitability growth. On the basis of these excellent results, the Board has proposed a final dividend of 34 fils per share, taking the final dividend to 54 fils per share, the highest dividend in the history of du. 'Our outlook remains positive as we continue to progress on our transformation journey, prioritise emerging technologies, and strengthen our position in the telecom and ICT sectors to meet evolving market demands. We are confident in our ability to drive sustained growth and value for our shareholders while shaping the UAE's digitally empowered future.' Fahad Al Hassawi, CEO said: '2024 was a pivotal year for du. During the year, the company achieved record financial performance and reached major operational and strategic milestones. We reinforced our position as a leading Telecom and Digital Services Provider, by driving innovation with new services, additional revenue streams and enhanced networks, and by focusing on our digital-first strategy to deliver exceptional customer experience. Key milestones included the launch of the du Tech and du Infra sub-brands, the roll-out of the du Pay fintech solutions, and the deployment of the Middle East's first indoor 5G-Advanced Network. In the Data centre business, strategic partnerships with Oracle Alloy and AI Hosting Hub boosted our capabilities, while a new strategic partnership with Telefónica will strengthen our competitive edge. 'Looking ahead, we will continue driving digital transformation and strategic revenue diversification, enhancing our infrastructure and expanding partnerships, while sustainably driving operational efficiency, profitable growth and value creation to all our stakeholders.' Customer base In Q4 du's mobile customer base grew 4.2% year-over-year reaching 8.9 million subscribers with 600,000 net-additions in the quarter. The postpaid subscriber base grew by 10.0% year-over-year to 1.8 million customers supported by attractive B2B initiatives such as SME infinite plans and new postpaid plans for large enterprise customers as well as new consumer offers, such as the UAE nationals Exclusive postpaid plan. Meanwhile, its prepaid customer base grew by 2.9% y-o-y reaching 7.1 million driven by attractive offers to residents such as special offers for blue collar workers and attractive offers dedicated to du Pay customers as well as successfully capturing the increase in tourism activity by upgrading our services with offers such as the e-sim for tourists, the tourist welcome bonus and enhanced bundles for tourists. In Q4, its fixed customer base saw a strong growth of 12.8% year-over-year reaching 682,000 subscribers, with 27,000 net-additions in the fourth quarter and 78,000 over the past 12 months driven by growth of demand for our Fibre and Home Wireless services including home wireless gaming and attractive offers by our Virgin brand and the improvement of our Fixed services market share. – TradeArabia News Service
Zawya
11-02-2025
- Business
- Zawya
du reports 7.3% revenue growth in 2024 to $3.97bln
UAE - Emirates Integrated Telecommunications Company (du) reported a revenue growth of 7.3% to AED14.6 billion ($3.97 billion) in 2024 on the back of strong market position and revenue diversification. The company's net profit grew 49.1%, reaching a record AED2.5 billion ($680 million), underscoring its ability to drive both top-line expansion and bottom-line improvement, du said. Exceptional profitability was achieved with EBITDA increasing by 11.6% to AED6.5 billion, EBITDA margin up by 1.7pp to 44.2% . 'Our strong financial performance and robust balance sheet enabled the board to recommend distributing 34 fils per share as the final dividend for 2024, taking our 2024 dividend to 54 fils per share, the highest dividend in the history of du and the maximum amount of dividends per share allowed by our dividend policy,' the company said. Malek Sultan Al Malek, Chairman, commented: 'In 2024, we made significant progress in our transformation journey from a traditional telecom operator to a comprehensive digital services provider, supported by UAE's resilient economy and ambitious digital agenda. The introduction of the du Tech and du Infra sub-brands enhances our B2B service offerings and caters more effectively to specific market segments. The launch of du Pay challenges the status quo, promoting financial inclusion, accessibility and security. 'Our mobile and fixed network, supporting close to 10 million subscribers, is forming the backbone of the UAE's digital economy, highlighting the success of our customer-centric and digital-first approach. We continue introducing new-generation technologies and forming strategic partnerships with global tech leaders to become the partner of choice of businesses in their digital transformation journey. 'Our focused strategy execution translated into exceptional financial performance in 2024, marked by strong revenue and profitability growth. On the basis of these excellent results, the Board has proposed a final dividend of 34 fils per share, taking the final dividend to 54 fils per share, the highest dividend in the history of du. 'Our outlook remains positive as we continue to progress on our transformation journey, prioritise emerging technologies, and strengthen our position in the telecom and ICT sectors to meet evolving market demands. We are confident in our ability to drive sustained growth and value for our shareholders while shaping the UAE's digitally empowered future.' Fahad Al Hassawi, CEO said: '2024 was a pivotal year for du. During the year, the company achieved record financial performance and reached major operational and strategic milestones. We reinforced our position as a leading Telecom and Digital Services Provider, by driving innovation with new services, additional revenue streams and enhanced networks, and by focusing on our digital-first strategy to deliver exceptional customer experience. Key milestones included the launch of the du Tech and du Infra sub-brands, the roll-out of the du Pay fintech solutions, and the deployment of the Middle East's first indoor 5G-Advanced Network. In the Data centre business, strategic partnerships with Oracle Alloy and AI Hosting Hub boosted our capabilities, while a new strategic partnership with Telefónica will strengthen our competitive edge. 'Looking ahead, we will continue driving digital transformation and strategic revenue diversification, enhancing our infrastructure and expanding partnerships, while sustainably driving operational efficiency, profitable growth and value creation to all our stakeholders.' Customer base In Q4 du's mobile customer base grew 4.2% year-over-year reaching 8.9 million subscribers with 600,000 net-additions in the quarter. The postpaid subscriber base grew by 10.0% year-over-year to 1.8 million customers supported by attractive B2B initiatives such as SME infinite plans and new postpaid plans for large enterprise customers as well as new consumer offers, such as the UAE nationals Exclusive postpaid plan. Meanwhile, its prepaid customer base grew by 2.9% y-o-y reaching 7.1 million driven by attractive offers to residents such as special offers for blue collar workers and attractive offers dedicated to du Pay customers as well as successfully capturing the increase in tourism activity by upgrading our services with offers such as the e-sim for tourists, the tourist welcome bonus and enhanced bundles for tourists. In Q4, its fixed customer base saw a strong growth of 12.8% year-over-year reaching 682,000 subscribers, with 27,000 net-additions in the fourth quarter and 78,000 over the past 12 months driven by growth of demand for our Fibre and Home Wireless services including home wireless gaming and attractive offers by our Virgin brand and the improvement of our Fixed services market share. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
