DEWA revenue hits record Dh25 billion in nine months, profit surges 21% to Dh8.3 billion

Dubai: Dubai Electricity and Water Authority (DEWA) has reported the strongest financial performance in its history, with revenue climbing to Dh24.9 billion and operating profit rising 21.5% to Dh8.3 billion for the first nine months of 2025. Net profit for the period reached Dh6.8 billion, up 24.8% year-on-year.

The performance was underpinned by sustained demand growth in electricity, water, and district cooling, alongside improved operational efficiency and disciplined cost management. The utility also generated Dh15.2 billion in cash from operations, reflecting its continued financial strength.

In the third quarter alone, DEWA posted revenue of Dh10.3 billion and profit after tax of Dh3.9 billion, up 35% compared with the same period last year. EBITDA reached Dh6.2 billion, up more than 20% year-on-year.

Gross power generation during the quarter rose to 20.5 terawatt hours, while clean energy accounted for 13.5% of the total at 2.77 TWh. Peak power demand reached a record 11.4 gigawatts, up 5.8% on the year. Water demand also grew by nearly 7%, hitting a new quarterly high of 43.5 billion imperial gallons.

“This is our strongest year-to-date performance in DEWA’s history, with revenues growing to nearly Dh25 billion and operating profit exceeding Dh8.3 billion for the first nine months,” said Saeed Mohammed Al Tayer, Vice Chairman and Managing Director & CEO of DEWA. “These results underscore the resilience of Dubai’s utility model along with the disciplined execution of our strategy.”

DEWA invested Dh7.8 billion in capital expenditure during the nine-month period, focusing on renewable capacity, water desalination, and grid digitalisation. The company’s installed power generation capacity reached 17.979 gigawatts, of which 3.86 GW, or 21.5%, came from renewable sources.

Its total desalinated water production capacity now stands at 495 million imperial gallons per day (MIGD). DEWA aims to reach more than 23 GW of total power capacity and 735 MIGD of water capacity by 2030, with renewable sources accounting for over a third of generation and 308 MIGD of water output using reverse osmosis powered by clean energy.

The Group’s total investments in assets rose to Dh233.4 billion as of September 30, 2025, with shareholders’ equity at Dh89.1 billion.

DEWA paid Dh3.1 billion in dividends to shareholders on October 29, 2025, covering the first half of the year. The company reaffirmed its dividend policy, which targets a minimum annual payout of Dh6.2 billion for the first five years following its 2022 listing, distributed in April and October each year.

For the second half of 2025, the next dividend is expected to be paid in April 2026.