DEWA posts record H1 profit of Dh3.33b, revenue of Dh14.86b
DEWA said it expects to distribute another Dh3.1 billion dividend in late October 2026
Dubai: Dubai Electricity and Water Authority (DEWA) reported record first-half revenue and profit for 2026 as rising demand for electricity, water and cooling services and continued customer growth supported its financial performance.
Get updated faster and for FREE: Download the Gulf News app now - simply click here.
“DEWA delivered record results in the first half of 2026, achieving its highest-ever first-half revenue, EBITDA, operating profit and net profit,” said Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA.
The utility posted net profit of Dh3.33 billion for the first six months of 2026, up 15.02%, while revenue reached a record Dh14.86 billion.
DEWA reported EBITDA of Dh7.32 billion and operating profit of Dh4.07 billion, with all four measures — revenue, EBITDA, operating profit and net profit — reaching their highest levels for a first half.
The Dubai-listed utility said sustained demand across its electricity, water and cooling businesses, an expanding customer base and operational performance supported the results.
Clean power nears 20%
DEWA generated 15.78 terawatt-hours (TWh) of electricity during the second quarter. Clean energy sources produced 3.14 TWh, accounting for 19.9% of total electricity generation during the period.
Desalinated water production reached 40.25 billion imperial gallons in the second quarter.
DEWA added 18,220 customer accounts during the quarter. Its total customer base increased by 72,718 accounts in the 12 months to June 30, representing year-on-year growth of 5.63%.
“During the second quarter, clean energy accounted for 19.9 percent of total power generated. These results reflect the continued strength of Dubai’s economy, the resilience of DEWA’s business model and our commitment to sustainability, operational excellence and long-term shareholder value,” Al Tayer said.
By the end of the first half, DEWA's installed electricity generation capacity had reached 17,979 megawatts, including 3,860MW from clean energy sources. Clean energy therefore represented 21.5% of installed generation capacity.
Water capacity expands
DEWA also commissioned Block A of the Hassyan Sea Water Reverse Osmosis plant, adding 60 million imperial gallons per day (MIGD) to its water production capacity.
Sea water reverse osmosis now accounts for 23% of DEWA's total desalination capacity. The utility expects to add another 120 MIGD of SWRO capacity during 2026.
The expansion forms part of a wider investment programme to meet Dubai's growing electricity and water requirements while increasing the contribution from renewable energy and reverse-osmosis desalination.
By the end of 2030, DEWA plans to have more than 23 gigawatts of installed power generation capacity, of which about 8.3GW, or 36.1%, is expected to come from renewable sources.
The utility is also targeting desalinated water production capacity of 735 MIGD by 2030. About 308 MIGD is planned to use seawater reverse-osmosis technology powered by renewable energy.
Al Tayer said DEWA was continuing its journey towards its Net Zero by 2050 target while supporting Dubai's expansion.
Dh3.1b dividend expected
DEWA said it expects to distribute another Dh3.1 billion dividend in late October 2026 for the first half, subject to the necessary approvals.
The company distributed Dh3.1 billion to shareholders on April 20 for the second half of 2025.
Under its dividend policy, DEWA expects to pay a minimum annual dividend of Dh6.2 billion during the first five years starting from October 2022, with payments made semi-annually in April and October.
“Subject to the necessary approvals, we expect to distribute a further Dh3.1 billion in October 2026,” Al Tayer said.
