Latest news with #Dh10.2
Al Etihad
a day ago
- Business
- Al Etihad
TAQA reports Dh3.7 billion net income in H1 2025
14 Aug 2025 10:48 ABU DHABI (WAM)Abu Dhabi National Energy Company PJSC (TAQA) on Thursday announced its financial results for the first half of 2025. The group delivered a 4.5 per cent year-on-year increase in revenue for H1 2025, reaching Dh28.4 billion. This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) reached Dh10.2 billion, while net income stood at Dh3.7 billion. Underlying profitability in TAQA's core utilities businesses remained Hassan Alsuwaidi, Minister of Investment and Chairman of TAQA, said, 'TAQA continues to deliver across its core businesses and new growth markets, reflecting the strength of its long-term strategy."He added that during the first half of the year, the group advanced its position as a critical enabler of infrastructure development, within the UAE and stated, "As the business evolves, our focus remains on disciplined execution and creating lasting value for shareholders, while supporting the broader energy transition and economic diversification goals of the UAE and the markets we operate in.'Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director, said, 'TAQA's performance in the first half of 2025 reflects the strength of our integrated utility model and ability to consistently deliver value in dynamic market conditions. Despite headwinds, we continued to make tangible progress on priority projects across generation, water and transmission, increasing system flexibility and expanding our global portfolio.'The group reduced its gross debt position to Dh61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond. At the same time, TAQA accelerated investment in future capacity, with Dh5.2 billion in capital expenditure directed toward flexible generation, transmission upgrades and strategic desalination ahead, TAQA remains focused on advancing its strategic priorities, expanding low-carbon power and water solutions, strengthening grid infrastructure, and enabling energy transition across its markets. The group continues to support national decarbonisation goals while delivering reliable returns to shareholders through disciplined execution and long-term investment.
Al Etihad
22-07-2025
- Business
- Al Etihad
UAE telecom services trade up 4.3% to Dh10.2 billion in 2024
22 July 2025 10:37 ABU DHABI (WAM)The UAE's trade in telecommunication services increased by 4.3 percent in 2024, reaching Dh10.2 billion, compared to Dh9.8 billion in 2023, according to data released by the Federal Competitiveness and Statistics Centre (FCSC).This growth was largely driven by a strong performance in the fourth quarter of 2024, which recorded a year-on-year increase of 12.95 percent, bringing the quarterly trade value in telecom services to Dh2.70 data also revealed that telecom service exports rose by 6.49 percent in 2024 to Dh4.9 billion, while imports grew by 2.38 percent to Dh5.3 fourth quarter recorded the highest share of annual telecommunications trade at 26.45 percent, followed by the third quarter at 25.34 percent (Dh2.59 billion), the second quarter at 25.05 percent (Dh2.56 billion); and the first quarter at 23.17 percent (Dh2.37 billion).This robust performance underscores the strategic role of the telecom sector in supporting the UAE's digital economy, the expansion of e-commerce, and the development of technological is a government centre affiliated with the Ministry of Cabinet Affairs. FCSC was established to develop and enhance the UAE's performance in the areas of global competitiveness, statistics and data, and to support the country's journey in achieving UAE's Centennial Plan 2071.
Khaleej Times
27-03-2025
- Business
- Khaleej Times
Emaar Development approves Dh2.7 billion dividend for 2024
Emaar Development on Thursday announced that its shareholders have approved the board of directors' proposal to distribute a dividend of Dh2.7 billion ($740 million), representing 68 per cent of the share capital. During the company's annual general meetings, shareholders approved the board's report on the company's activities and financial position, as well as the auditor's report, were also approved. Emaar Development reported property sales of Dh65.4 billion in 2024, reflecting a 75 per cent increase compared to the previous year. The company's revenue backlog reached Dh90.9 billion, supporting future revenue growth. Total revenue for the year amounted to Dh19.1 billion, up 61 per cent from 2023, while net profit before tax increased by 20 per cent to Dh10.2 billion. Throughout 2024, Emaar Development launched 62 projects across its master plans, further strengthening its presence in the market and reinforcing its commitment to shaping high-quality communities. The company also acquired 141 million square feet of prime development land, with a total development value of Dh96 billion. Mohamed Alabbar, founder of Emaar, commented: 'Our 2024 results are a testament to our focus on excellence, innovation, and customer satisfaction. Every project we launch is about more than just real estate—it's about building communities that enhance the lives of residents and contribute to Dubai's global appeal.' He added: 'By embracing technology and sustainability, we aim to redefine modern living while ensuring lasting value for our customers and stakeholders. Looking ahead to 2025, we will further strengthen our commitment to introducing new developments that align with our vision for sustainable urban growth, while supporting economic growth and nurturing the next generation of talent.'
