Dubai Electricity and Water Authority (DEWA) has reported its highest-ever first-quarter revenue and cash from operations in its 33-year history.
Established as Dubai’s utilities provider in 1992, DEWA clocked revenue of AED5.96 billion (US$1.62 billion) and cash from operations of AED3.85 billion (US$1.05 billion) in Q1 2025.
DEWA’s highest quarterly results
DEWA also recorded its highest first-quarter power generation of 10.50 TWh, its highest first-quarter clean power generation of 1.86 TWh, and its highest first-quarter desalinated water production of 35.61 BIG (British Imperial Gallon).
DEWA’s EBITDA stood at AED2.43 billion (US$660 million), operating profit of AED838 million (US$228.2 million) and net profit of AED496 million (US$135 million).
During the quarter, DEWA invested AED2.26 billion (US$620 million) in infrastructure, mainly related to its energy transition strategy. The company expects total installed generation capacity to reach 22GW, out of which 7.5GW, representing 34 per cent of generation mix, will be sourced from clean energy. This is much higher than the original target of 25 per cent.
Commenting on the result, Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, said: “DEWA is committed to be an innovative and sustainable corporation inspired by the vision of our leaders. Under their guidance, we are progressing in our journey to Net Zero by 2050 and will continue to play a decisive role in Dubai’s rapid progress.
“With consistent growth in demand for electricity, water and cooling services, our revenue grew by 2.83 per cent to AED5.96 billion in the quarter and more notably, our net cash flow from operations grew to AED3.85 billion, which is 17.86 per cent higher than the amount in the same period of the previous year.
“Overall, we are confident of continuing to deliver results exceeding our historical performance, which will translate into long-term value creation for our shareholders.”
The 10.50 TWh generated in the first quarter represents a 2.83 per cent increase over the same period in 2024. The clean power generated (1.86 TWh), was 17.7 per cent of the overall power generation. There was a 4.56 per cent increase in the generation of desalinated water.
DEWA increased its customer base by 11,614 customer accounts during the quarter. In the last 12 months, the total number of customer accounts increased by 57,339, representing yearly growth of 3.7 per cent.
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