Taqa assets rise 69% to Dh52.7b

Dubai: The Abu Dhabi National Energy Company PJSC (Taqa) yesterday reported a 69 per cent jump in total assets to Dh52.7 billion as of March 31, climbing from Dh31.2 billion as of the same date last year, the company said in an e-mailed statement.

The company's earnings before interest and taxes (EBIT) increased 78 per cent to Dh680 million from Dh383 million a year ago. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 59 per cent to Dh942 million. Funds from operations and retained cash flow rose 54 per cent to Dh911 million from Dh591 million last year.

A cash dividend of Dh207.5 million, amounting to five per cent of the share capital, was approved at the AGM held on April 22.

First-quarter revenue reached Dh1.05 billion from Dh698 million for the same period in 2006, representing an 44 per cent rise.