Dewa posts record $8.43bn revenue for 2024
DUBAI, 28 days ago
Dubai Electricity and Water Authority (Dewa), the Emirate of Dubai’s exclusive electricity and water services provider, reported a full year 2024 revenue of AED30.98 billion ($8.43 billion), a 6.18% increase on 2023 revenue.
Dewa posted an EBITDA of AED15.70 billion and net profit after tax of AED7.24 billion ($1.97 billion).
For Q4, 2024, Dewa Group reported a revenue of AED7.45 billion, EBITDA of AED3.95 billion and net profit after tax of AED1.76 billion.
The substantial increase in revenue was 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% to AED7.98 billion.
Annual operating performance
In 2024, Dewa generated 59.19 TWh of power, marking a 5.42% 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% increase over the previous year. This clean power accounted for 11.2% of the total power generated in 2024.
Dewa experienced a noteworthy 3.4% 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% 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% 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% increase over previous year, Dewa said. -TradeArabia News Service
