Abu Dhabi – Mubasher Abu Dhabi National Energy Company (TAQA) recorded net profits attributable to the owners valued at AED 16.64 billion in 2023, an annual leap from AED 8.03 billion.
Revenues witnessed an annual growth of 3% to AED 51.71 billion in 2023, compared to AED 50.05 billion, according to the interim consolidated income statements.
TAQA registered basic and diluted earnings per share (EPS) attributable to the shareholders valued at AED 0.15 as of 31 December 2023, up year-on-year (YoY) from AED 0.07.
Total assets amounted to AED 194 billion last year, higher than AED 181.62 billion in 2022.
Mohamed Hassan Alsuwaidi, Chairman of TAQA, said: “TAQA’s strategic positioning across its markets, particularly in Abu Dhabi as a fully integrated local utilities champion, remains key to our robust results.”
“Our achievements in 2023 serve as a foundation for further growth, which will include organic and inorganic expansion as well as substantial investment into power and water capacity and UAE-based transmission and distribution networks over the coming years,” Alsuwaidi underlined.
He stated: "The significant upward revision of our production targets is testament to our confidence in being able to deliver on our ambitions and strategic goals for 2030 and beyond.”
Dividends
The board of TAQA proposed a final cash dividend of 2 fils per share (approximately AED 2.20 billion), including variable dividend of 0.70 fils per share (around AED 800 million).
The dividends mark the fourth and final payment planned for 2023, bringing total dividends for the full year to 3.95 fils per share (nearly AED 4.40 billion).
In the first nine months (9M) of 2023, the group achieved net profits worth AED 15.19 billion, an annual jump from AED 6.57 billion.
