Dubai Electricity And Water Authority PJSC Announces Record Annual Revenue Of AED 30.98 Billion
- Plus An Unprecedented EBITDA Of AED 15.70 Billion For The Year 2024
By Ron Chen, Bureau Chief, Asia
The Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), Dubai Electricity and Water Authority PJSC today reported its full year 2024 preliminary and unaudited consolidated financial results. DEWA Group recorded consolidated full year revenue of AED 30.98 billion(US$8.43billion), EBITDA of AED 15.70 billion and net profit after tax of AED 7.24 billion. For Q4, 2024, DEWA Group reported revenue of AED 7.45 billion, EBITDA of AED 3.95 billion and net profit after tax of AED 1.76 billion.
DEWA’s strategy delivers record financial performance
DEWA’s consolidated annual revenue increased by 6.18 per cent to AED 30.98 billion in 2024 primarily driven by rising demand for electricity, water and cooling services. On a like-for-like basis, DEWA Group delivered an annual profit before tax increase of 1.81 per cent to AED 7.98 billion.
Annual Operating Performance Summary:
In 2024, DEWA generated 59.19 TWh of power, marking a 5.42 per cent annual increase from the 56.14 TWh recorded in 2023. Notably, DEWA generated 6.62 TWh of clean power during the year, a 7.47 per cent increase over the previous year. This clean power accounted for 11.2 per cent of the total power generated in 2024. DEWA experienced a noteworthy 3.4 per cent increase in its annual peak demand compared to 2023, reaching 10.76 GW in 2024. The system desalinated water production in 2024 grew by 5.0 per cent compared to the previous year, reaching a record of 150.48 billion imperial gallons. The daily peak desalinated water demand reached 455 MIGD, a 4.92 per cent increase over the previous year. At the end of 2024, DEWA had 1,270,285 customer accounts, adding 58,810 accounts during the year, an impressive 4.85 per cent increase over previous year.
