Dubai utility firm Dewa announces record quarterly revenue of Dh5.96 billion

Dubai Electricity and Water Authority (Dewa), listed on the Dubai Financial Market, has announced its financial results for the first quarter of 2025. The company earned revenue of Dh5.96 billion, with an operating profit of Dh838 million and a net profit of Dh496 million.

It also reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Dh2.43 billion. Dewa generated a record Dh3.85 billion in net cash from operations, bringing its total cash and cash equivalents to Dh8.17 billion — Dh2.07 billion more than at the end of 2024.

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“We are progressing in our journey to Net Zero by 2050 and will continue to play a decisive role in Dubai’s rapid progress. With consistent growth in demand for electricity, water and cooling services, our revenue grew by 2.83 per cent to Dh5.96 billion in the quarter and more notably our net cash flow from operations grew to Dh3.85 billion, which is 17.86 per cent higher than the amount in the same period of the previous year.

"Our financials reflect a healthy operating profit of Dh838 million in the quarter, and an EBITDA of Dh2.43 billion. We invested Dh2.26 billion in infrastructure during the quarter, mainly related to our energy transition strategy,” said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of Dewa.

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In Q1 2025, Dewa generated 10.50 TWh, a 2.83% increase over the same period in 2024. During this quarter clean power generated was 1.86 TWh, contributing 17.7% to the overall power generation. Simultaneously, desalinated water production in Q1 reached 35.61 BIG, a 4.56% increase. Dewa increased its customer base by an impressive 11,614 customer accounts during the quarter. In the last twelve months, ending with the first quarter of 2025, the total number of customer accounts increased by 57,339, representing yearly growth of 3.7 per cent.

By the first quarter of 2025, the Company’s system installed generation capacity was 17,579 MW, with 3,460 MW of this capacity coming from clean energy sources, which represents 20 per cent of the energy mix. By 2030 we expect total installed generation capacity to reach 22 GW, out of which 7.5 GW, representing 34 per cent of generation mix, will be sourced from clean energy sources.