Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) registered net profits attributable to the shareholders worth AED 2.67 billion in the first half (H1) of 2023, versus AED 3.14 billion in H1-22.
Revenues stood at AED 12.72 billion as of 30 June 2023, up 5.40% year-on-year (YoY) from AED 12.07 billion, according to the income statements.
The basic and diluted earnings per share (EPS) amounted to AED 0.05 in the first six months (6M) of 2023, an annual decline from AED 0.06.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the net profits attributable to the owners of DEWA hit AED 1.93 billion, compared to AED 2.41 billion in the year-ago period.
The revenues climbed to AED 7.29 billion in Q2-23 from AED 7 billion in Q2-22, while the basic and diluted EPS went down to AED 0.03 from AED 0.04.
Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, commented: “In line with our strategy, we continue to maintain a robust infrastructure and services to keep pace with rapid developments in Dubai driven by the sustainable economic growth, execution of the ambitious Dubai 2040 Urban Master Plan and the associated increase in population.”
“Today we provide world-leading services to over 1.18 million customers at the highest standards of availability, reliability, efficiency, and safety, and we are committed to future-proofing the same,” Al Tayer added.
He concluded: “DEWA’s strategy is focused on delivering consistent returns, upholding highest environmental, social, and governance (ESG) standards, sustainable growth, and compounding of our growth value over time for our investors.”
During the January-March 2023 period, the DFM-listed company posted YoY higher net profits attributable to the owners at AED 743.76 million, compared to AED 734.51 million.
