Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) generated net profits attributable to the owners amounting to AED 2.15 billion in the first quarter (Q1) of 2025.
The recorded net profits were higher than AED 2.13 billion in Q1-24, according to the financial results
Basic and diluted earnings per share (EPS) attributable to shareholders hit AED 0.02 as of 31 March 2025.
TAQA delivered 3.80% year-on-year (YoY) higher revenues at AED 14.20 billion in the January-March 2025 period, primarily driven by higher pass-through items in Transmission and Distribution (T&D).
Jasim Husain Thabet, Group CEO and Managing Director of TAQA, said: “Our first-quarter performance demonstrates the resilience of our core utilities business and shows that we are continuing to make progress in the successful delivery of our growth strategy. TAQA delivered solid revenue growth and has laid strong foundations for the remainder of 2025.”
"TAQA’s leadership in the global low-carbon transition is reinforced by our continued expansion in renewables through Masdar and key international acquisitions,” he noted.
The CEO added: “With a strong balance sheet, robust cash flow, and a clear roadmap aligned with both national and global energy goals, we are well-positioned to drive sustainable growth and create long-term value for our stakeholders.”
In the 12-month period that ended on 31 December 2024, the group’s net profits dropped to AED 7.33 billion from AED 16.82 billion in 2023.
