Dubai Water and Electricity Authority - DEWA announced its preliminary and unaudited financial results for 2024 on Monday. The authority recorded consolidated annual revenue of AED 30.98 billion, EBITDA of AED 15.70 billion and net profit after tax of AED 7.24 billion.
Publish dateTuesday 11 February 2025 - 22:29
According to Amac News, For the fourth quarter of 2024, DEWA reported revenue of AED 7.45 billion, EBITDA of AED 3.95 billion and net profit after tax of AED 1.76 billion.
According to DEWA’s dividend policy, the company expects to pay a minimum annual dividend of AED 6.2 billion for the first five years from October 2022. Dividends will be paid semi-annually in April and October.
On 31 October 2024, DEWA distributed to its shareholders AED 3.1 billion as dividend for the first half of 2024, based on the record date of 18 October 2024. The next dividend of AED 3.1 billion for the second half of 2024 is expected in April 2025, subject to DEWA shareholders’ approval at the Annual General Meeting.
“For 2024, our record revenue of approximately AED 31 billion and EBITDA of AED 16 billion is the result of implementing sustainability and quality across all our programs and activities,” said Saeed Mohammed Al Tayer, CEO and Chairman of DEWA.
The company also announced that its consolidated annual revenue increased by 6.18% to AED 30.98 billion in 2024, mainly driven by increased demand for electricity, water and cooling services.
On a like-for-like basis, DEWA Group delivered an increase in annual pre-tax profit of 1.81% to AED 7.98 billion.
DEWA remains focused on its core strategic objective of delivering sustainable growth, staying at the forefront of smart and innovative operational excellence, and optimizing returns for all stakeholders while reducing environmental impacts.
According to DEWA’s dividend policy, the company expects to pay a minimum annual dividend of AED 6.2 billion for the first five years from October 2022. Dividends will be paid semi-annually in April and October.
On 31 October 2024, DEWA distributed to its shareholders AED 3.1 billion as dividend for the first half of 2024, based on the record date of 18 October 2024. The next dividend of AED 3.1 billion for the second half of 2024 is expected in April 2025, subject to DEWA shareholders’ approval at the Annual General Meeting.
“For 2024, our record revenue of approximately AED 31 billion and EBITDA of AED 16 billion is the result of implementing sustainability and quality across all our programs and activities,” said Saeed Mohammed Al Tayer, CEO and Chairman of DEWA.
The company also announced that its consolidated annual revenue increased by 6.18% to AED 30.98 billion in 2024, mainly driven by increased demand for electricity, water and cooling services.
On a like-for-like basis, DEWA Group delivered an increase in annual pre-tax profit of 1.81% to AED 7.98 billion.
DEWA remains focused on its core strategic objective of delivering sustainable growth, staying at the forefront of smart and innovative operational excellence, and optimizing returns for all stakeholders while reducing environmental impacts.
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Source : news agency wam
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