Dubai – Mubasher: The net profits attributable to the owners of Dubai Electricity and Water Authority (DEWA) amounted to AED 5.36 billion in the first nine months (9M) of 2024.
The recorded net profits were compared with AED 5.99 billion in 9M-23, according to the consolidated interim financial results.
Revenues hit AED 23.53 billion as of 30 September 2024, marking an annual rise of 6.20% from AED 22.16 billion, mainly driven by an increase in demand for electricity, water, and cooling services.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 4.71% year-on-year (YoY) to AED 11.80 billion in 9M-24. Basic and diluted EPS dropped to AED 0.10 from AED 0.12.
Financials for Q3-24
In the third quarter (Q3) of 2024, DEWA posted net profits valued at AED 2.85 billion, compared to AED 3.32 billion in Q3-23.
The revenues jumped by 4.75% to AED 9.87 billion in July-September 2024 from AED 9.42 billion in Q3-23, while the basic and diluted EPS plummeted to AED 0.05 from AED 0.06.
As of 30 June 2024, DEWA’s net profits after tax hit AED 2.55 billion, down YoY from AED 2.73 billion.
