Dubai Electricity and Water Authority (DEWA) has announced its preliminary and unaudited consolidated financial results for 2024, reporting a revenue of AED 30.98 billion, an EBITDA of AED 15.70 billion, and a net profit after tax of AED 7.24 billion.
In Q4 2024 alone, the company recorded AED 7.45 billion in revenue, AED 3.95 billion in EBITDA, and AED 1.76 billion in net profit after tax.
As per its dividend policy, DEWA has committed to distributing a minimum annual dividend of AED 6.2 billion for the first five years starting October 2022. On October 31, 2024, the company paid AED 3.1 billion in dividends for H1 2024, with another AED 3.1 billion expected to be distributed in April 2025, pending shareholder approval.
Saeed Mohammed Al Tayer, MD & CEO of DEWA, emphasized the company’s commitment to sustainability and operational excellence, aligned with Dubai’s leadership vision. He highlighted DEWA’s role in Dubai’s Net Zero 2050 strategy, with 17.8% of its installed generation capacity coming from clean energy sources. The company has also been recognized for achieving the lowest electricity (2%) and water (4.5%) line losses globally, with customer minutes lost averaging less than one minute per year.
DEWA continues to lead in digital transformation and AI-driven efficiency, ranking first globally in 12 KPIs. The company also became the first utility in the MENA region to win the Energy Infrastructure Award at the 2024 S&P Global Platts Energy Awards for the Mohammed bin Rashid Al Maktoum Solar Park.
With a 6.18% rise in annual revenue driven by increased demand for electricity, water, and cooling services, DEWA remains focused on sustainable growth and optimizing stakeholder returns while reducing environmental impact.
News Source: Emirates News Agency
