Taqa, the Abu Dhabi National Energy Company, has released its financial results for the first half of 2025.
The group achieved a 4.5 per cent year-on-year revenue increase for H1 2025, totalling AED28.4 billion ($7.7 billion), primarily driven by higher pass-through costs in the Transmission & Distribution (T&D) segment.
While revenue growth remained solid, profitability in the first half of the year was impacted by an expected decline in Oil & Gas production following the cessation of production from four UK assets and weaker oil prices, as well as higher financing costs and non-recurring items.
As a result, EBITDA declined 11 per cent year-on-year to AED 10.2 billion and net income fell 19.7 per cent to AED 3.7 billion.
Nonetheless, underlying profitability in Taqa’s core utilities businesses remained strong.
Mohamed Hassan Alsuwaidi, Chairman of Taqa, said: “Taqa continues to deliver across its core businesses and new growth markets, reflecting the strength of its long-term strategy. In the first half of the year, the Group advanced its position as a critical enabler of infrastructure development, both within the UAE and internationally. Alongside sustained investment in domestic power and water infrastructure, our growing international presence, including our plans to increase our footprint in Morocco, reinforces Taqa’s commitment to providing reliable, efficient power and water supply at scale. As the business evolves, our focus remains on disciplined execution and creating lasting value for shareholders, while supporting the broader energy transition and economic diversification goals of the UAE and the markets we operate in.”
Jasim Husain Thabet, Taqa’s Group Chief Executive Officer and Managing Director, said: “Taqa’s performance in the first half of 2025 reflects the strength of our integrated utility model and ability to consistently deliver value in dynamic market conditions. Despite headwinds, we continued to make tangible progress on priority projects across generation, water and transmission, increasing system flexibility and expanding our global portfolio. These are important steps that reinforce Taqa’s position as a reliable partner for large-scale power and water solutions, regionally and globally.”-OGN / TradeArabia News Service
