Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) generated AED 13.53 billion in net profit after tax during the first half (H1) of 2023, versus AED 4.24 billion in H1-22.
Revenues stood at AED 26.80 billion as of 30 June 2023, up 5% year-on-year (YoY) from AED 25.42 billion, according to the income statements.
The basic and diluted earnings per share (EPS) attributable to the owners amounted to AED 0.12 in the first six months (6M) of 2023, an annual decline from AED 0.04.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, TAQA achieved net profits after tax worth AED 2.03 billion, compared to AED 2.35 billion in the year-ago period.
The revenues climbed to AED 13.66 billion in Q2-23 from AED 13.01 billion in Q2-22, while the basic and diluted EPS remained unchanged at AED 0.02.
Dividends for Q2-23
The board members of TAQA approved the distribution of interim dividends of 0.65 fils per share, equivalent to AED 731 million, for Q2-23.
The ex-dividend and payment dates will be 18 August and 1 September 2023, respectively.
Mohamed Hassan Alsuwaidi, Chairman of TAQA, mentioned: “The company delivered a strong and consistent financial performance, maintained its investment grade credit rating, and ensured good returns for its shareholders through its dividend policy.”
“Demonstrating its commitment to continued growth, the company announced the expansion of its portfolio through its plan to acquire SWS Holding,” Alsuwaidi said.
He elaborated: “This transaction will broaden the scope of TAQA’s activity in the regulated utility business by becoming a fully integrated water and wastewater treatment provider.”
The Chairman highlighted: “TAQA has also grown both domestically and internationally in 2023, as well as in the renewable energy sector where it has exceeded its 2030 target of having 30% of its generation portfolio coming from renewable sources through the growth of Masdar.”
As of 31 March 2023, the ADX-listed firm recorded net profits attributable to the shareholders valued at AED 11.57 billion, an annual leap from AED 1.97 billion.
