Electricity and Water Authority of Dubai Achieves Record Results in First Half of 2024 Financial Year

The Dubai Electricity and Water Authority (DEWA), the exclusive provider of electricity and water services in the Emirate of Dubai, has recently announced its financial results for the first quarter of the 2024 fiscal year. The company, listed on the Dubai Financial Market (DFM) under the symbol DEWA and ISIN AED001801011, reported a revenue of 13.7 billion AED, an EBITDA of 6.6 billion AED, an operating profit of 3.3 billion AED, and a net profit after tax of 2.6 billion AED.

These impressive financial results highlight DEWA’s strong performance and continued success in providing essential services to the residents and businesses of Dubai. The company’s revenue growth and profitability underscore its position as a key player in the energy and water sectors in the region.

DEWA’s solid financial performance is a testament to its commitment to operational excellence, innovation, and sustainability. The company has been at the forefront of technological advancements in the energy sector, implementing smart grids, renewable energy projects, and energy efficiency programs to ensure a reliable and sustainable supply of electricity and water to its customers.

In addition to its financial success, DEWA has also been recognized for its efforts in promoting environmental sustainability and reducing carbon emissions. The company has implemented various initiatives to reduce its carbon footprint, including the development of solar power plants, energy efficiency programs, and water conservation measures.

DEWA’s strong financial results have been well-received by investors and stakeholders, reflecting confidence in the company’s management and strategic direction. The company’s transparent reporting and commitment to corporate governance have contributed to its strong reputation in the financial markets.

Looking ahead, DEWA remains focused on driving innovation, efficiency, and sustainability in its operations. The company continues to invest in technology and infrastructure to enhance its service delivery and meet the growing demand for electricity and water in Dubai.

Overall, DEWA’s financial results for the first quarter of 2024 demonstrate its resilience and adaptability in the face of evolving market conditions. The company’s strategic focus on sustainability, innovation, and customer service has positioned it as a leader in the energy and water sectors, paving the way for continued success in the future.

In conclusion, DEWA’s strong financial performance in the first quarter of 2024 reaffirms its position as a key player in the energy and water sectors in Dubai. The company’s commitment to sustainability, innovation, and customer service sets it apart as a model of excellence in the industry, driving its continued success and growth in the years to come.