Dubai: Dubai Electricity and Water Authority (DEWA), listed on the Dubai Financial Market (DFM), today reported its first quarter 2025 consolidated financial results, recording quarterly revenue of AED5.96 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to AED2.43 billion, with an operating profit of AED838 million and a net profit of AED496 million. The company also generated a record net cash from operations of AED3.85 billion, resulting in closing cash and cash equivalents of AED8.17 billion, which is AED2.07 billion higher than the balance at year-end 2024.
According to Emirates News Agency, DEWA Vice Chairman and MD and CEO, Saeed Mohammed Al Tayer, stated that the company is committed to being an innovative and sustainable corporation. Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, DEWA aims to progress towards Net Zero by 2050. The company reported a 2.83% growth in revenue for the quarter and a 17.86% increase in net cash flow from operations compared to the same period in the previous year.
DEWA's financials for the first quarter of 2025 reflect an operating profit of AED838 million and an EBITDA of AED2.43 billion. The company invested AED2.26 billion in infrastructure, focusing on its energy transition strategy. By 2030, DEWA expects total installed generation capacity to reach 22 GW, with 7.5 GW sourced from clean energy, representing 34% of the generation mix, up from the original target of 25%. DEWA is confident in delivering results that exceed historical performance, creating long-term value for shareholders.
In the first quarter of 2025, DEWA generated a record 10.50 TWh of energy, a 2.83% increase over the same period in 2024. Clean power generation was 1.86 TWh, contributing 17.7% to the overall power generation. Desalinated water production reached a record 35.61 BIG, a 4.56% increase. DEWA increased its customer base by 11,614 accounts during the quarter, with a total yearly growth of 3.7%.
By the first quarter of 2025, DEWA's system installed generation capacity was 17,579 MW, with 3,460 MW from clean energy sources, representing 20% of the energy mix. By 2030, DEWA plans to add 240 MIGD of desalination capacity using seawater reverse osmosis technology, bringing total installed desalinated capacity to 735 MIGD. The company also commissioned two 132kV substations and four hundred forty-one 11-6.6 kV substations in the quarter.