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

Dubai, United Arab Emirates, 12 May 2025:

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.