DEWA Reports Record Quarterly Revenue Of AED 5.96 Billion For First Quarter Of 2025

Dubai Electricity and Water Authority (DEWA), listed on the Dubai Financial Market, announced its financial results for the first quarter of 2025. The company reported a revenue of AED5.96 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were AED2.43 billion, while operating profit stood at AED838 million. DEWA's net profit reached AED496 million, with net cash from operations hitting a record AED3.85 billion.

Closing cash and cash equivalents amounted to AED8.17 billion, marking an increase of AED2.07 billion compared to the end of 2024. Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, stated that the company is committed to innovation and sustainability under the guidance of Dubai's leadership. He emphasised their role in Dubai’s progress towards Net Zero by 2050.

Al Tayer highlighted a 2.83% rise in revenue for the quarter, reaching AED5.96 billion, alongside a significant 17.86% increase in net cash flow from operations compared to the previous year. The operating profit was healthy at AED838 million for the quarter, with an EBITDA of AED2.43 billion.

DEWA invested AED2.26 billion in infrastructure during this period, focusing on energy transition strategies. By 2030, they aim to achieve a total installed generation capacity of 22 GW, with clean energy sources contributing 7.5 GW or 34% of the mix.

The first quarter saw DEWA generating a record 10.50 TWh of power, reflecting a 2.83% increase from the same period in 2024. Clean energy contributed 1.86 TWh or 17.7% to total power generation during this time.

Desalinated water production also hit a record high at 35.61 BIG, showing a growth of 4.56%. The customer base expanded by adding 11,614 new accounts in the quarter, leading to an annual growth rate of 3.7%, with a total increase of 57,339 customer accounts over twelve months.

Future Capacity Enhancements

By early 2025, DEWA's installed generation capacity reached 17,579 MW, with clean energy sources accounting for 3,460 MW or 20% of this capacity mix. Looking ahead to 2030, DEWA plans to add desalination capacity using seawater reverse osmosis technology.

This will bring total installed desalinated capacity to 735 MIGD by then. In addition to these efforts, DEWA commissioned two new substations at 132kV and four hundred forty-one substations at lower voltages during the quarter.

The company's strategic investments and operational achievements underscore its commitment to sustainable growth and long-term value creation for shareholders while supporting Dubai’s ambitious environmental goals.

With inputs from WAM