First published: 12-Nov-2025 14:25:32

• Revenue, earnings before deductions, and net profit for the first nine months all exceeded the same period last year by AED 1.3 billion.

• Cash flows from operations during the first nine months of the year exceeded AED 15 billion.

• The authority paid dividends to shareholders amounting to AED 3.1 billion on October 29, 2025

Dubai, United Arab Emirates – Dubai Electricity and Water Authority PJSC (DEWA), the exclusive provider of electricity and water services in Dubai and listed on the Dubai Financial Market under the symbol (DEWA) and International Standard Securities Number (ISIN: AED001801011), today announced its consolidated financial results for the first nine months of 2025, recording revenues of AED 24.9 billion, EBITDA (before deductions) of AED 13.1 billion, operating profit of AED 8.3 billion, net profit of AED 6.8 billion, and cash flow from operations of AED 15.2 billion.

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His Excellency Saeed Mohammed Al Tayer, Vice Chairman of the Board, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), said: “At DEWA, we are committed to being an innovative and sustainable corporation, inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, may God protect him, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence and Chairman of the Executive Council of the Emirate of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. With their guidance and support, we are steadily progressing towards achieving carbon neutrality by 2050, and we will continue our pivotal role in supporting Dubai’s rapid development.”

His Excellency Al Tayer added: “These are the strongest results in DEWA’s history, with revenues reaching nearly AED 25 billion in the first nine months of this year and operating profits exceeding AED 8.3 billion. These results underscore the resilience of Dubai’s utility sector business model and the sound execution of our strategy. As the emirate continues to grow, DEWA is expanding its portfolio of reliable, efficient, and future-ready systems, including clean energy production, water security, network digitization, and smart storage. We are also developing a reliable, efficient, intelligent, and sustainable infrastructure. With the strong results we achieved in the first nine months, we expect our 2025 financial results to surpass those of 2024, driven by strong demand for our services, our advanced infrastructure, and DEWA’s operational excellence. We will continue to invest in clean energy projects and digital transformation, further enhancing Dubai’s global leadership in the utilities sector. In October 2025, we paid out a dividend of AED 3.1 billion for the first half of 2025.”

Financial Performance Summary:

During the first nine months of 2025, Dubai Electricity and Water Authority (DEWA) achieved record revenues of AED 24.9 billion, compared to AED 23.5 billion during the same period last year, driven by continued growth in demand for electricity, water, and district cooling services. Gross profit increased to AED 9.9 billion, compared to AED 9.0 billion during the same period in 2024, reflecting sound operational efficiency and effective cost management across the Group’s operations.

Operating profit rose to AED 8.3 billion (compared to AED 6.9 billion in the first nine months of 2024), reflecting an increased contribution from regulated and unregulated activities, including the group’s district cooling company (Empower).

Net profit after tax reached AED 6.8 billion, compared to AED 5.5 billion during the same period last year, confirming the strength of the group’s financial position and its ability to withstand the volatility of global markets.

During the same period, the authority invested over AED 7.8 billion in capital expenditures to expand renewable energy projects, electricity and water networks, desalination plants, and district cooling systems. Long-term investments focus on the strategic energy transformation, including renewable energy, energy storage, smart grids, water security, and AI-powered digital transformation initiatives.

The Authority’s total investments in assets rose to AED 233.8 billion as of September 30, 2025, while shareholders’ equity reached AED 89.1 billion, with the Group maintaining strong liquidity and a solid balance sheet.

Operational Performance Summary

In the third quarter of 2025, the Authority's total electricity production rose to 20.5 terawatt-hours, an increase of 4.46% compared to 19.6 terawatt-hours during the same period in 2024. The share of clean energy in total production reached 2.77 terawatt-hours, equivalent to 13.5% of the total energy produced in the third quarter of 2025. The Authority affirms its commitment to increasing the share of clean energy in its production mix to ensure the sustainability of supplies and meet growing demand.

The authority recorded a 5.83% increase in peak energy demand compared to the third quarter of 2024, reaching 11.4 gigawatts. The total actual thermal rate (the amount of heat required to produce one kilowatt-hour) reached 7,642 British thermal units/kilowatt-hour, an improvement of 3.54% compared to the same period of the previous year. These achievements collectively highlight the authority's unwavering commitment to operational excellence in the face of strong demand for its services.

Total demand for desalinated water during the third quarter of 2025 increased by 6.74% compared to the same period of the previous year, reaching 43.5 billion gallons, while peak demand for desalinated water reached 487 million gallons per day, an increase of 6.96% compared to the same period last year.

By the end of the third quarter of 2025, the number of customer accounts reached 1,309,206, an increase of 4.71% compared to the same period last year.

Key Quarterly Achievements

During the third quarter of 2025, DEWA commissioned two 132 kV substations, three 33 kV substations, and 520 11 kV substations. The installed electricity generation capacity reached 17.979 GW, of which 3.86 GW (21.5%) was from renewable energy sources. Desalinated water production capacity reached 495 million gallons per day. By the end of 2030, DEWA’s total generation capacity will exceed 23 GW, with 8.3 GW (36.1%) coming from renewable energy sources. Desalinated water production capacity will reach 735 million gallons per day, including 308 million gallons per day using renewable energy-based reverse osmosis technology.

Corporate procedures: dividend distributions, and distribution policy

In accordance with its dividend policy, the Dubai Electricity and Water Authority (DEWA) expects to pay annual dividends of at least AED 6.2 billion for the first five years, starting in October 2022, distributed semi-annually in April and October. On October 29, 2025, DEWA distributed AED 3.1 billion in dividends for the first half of 2025 to shareholders registered as of October 17, 2025. The remaining AED 3.1 billion in dividends for the second half of 2025 is expected to be distributed in April 2026.

Audited financial statements

The audited financial statements can be viewed on the Dubai Electricity and Water Authority (DEWA) website: https://www.dewa.gov.ae/ar-AE/investor-relations

Or the Dubai Financial Market website : https://www.dfm.ae/ar/issuers/listed-securities/securities/company-profile-page?id=DEWA

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