Dubai Electricity and Water Authority PJSC 9M-2022 profit rises 21% to AED 6.47 billion
10.11.2022 17:30:00 EET | Business Wire | Press release
Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), has reported its third quarter 2022 financial results, recording quarterly revenue of AED 8.55 bn and net profit of AED 3.17 bn. Year to date, DEWA’s revenue is AED 20.63 bn and net profit is AED 6.47 bn.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221110005703/en/
Dubai Electricity and Water Authority PJSC 9M-2022 profit rises 21% to AED 6.47 billion (Graphic: AETOSWire)
Demand driven robust financial performance
DEWA’s first 9 month revenue increase of 15% to AED 20.63 bn was mainly driven by an increase in demand and a transition to normalized tariff structure. Energy demand in Dubai during the first 9 months of 2022 increased by 5% compared to the same period in 2021. Similarly, water demand in the same period grew by 6.4%.
“In line with the vision of the wise leadership to strengthen Dubai’s position as a leading global financial and economic hub we achieved a profit for the first 9 months of 2022 which is nearly at par with our full year net profit of 2021. These record results are a testament to our steadfast focus on delivering our strategic priorities of sustainable and innovative growth. We are well positioned to deliver the best full year financial performance in our history. Moreover, we have made sustained progress towards unlocking shareholder value by paying our first dividend of AED 3.1bn in Oct, 2022, by announcing the intention to float our 70% owned subsidiary EMPOWER and by recommending the payment of a one-time special dividend of AED 2.03bn to be paid to our shareholders in December. For the financial year 2022, we expect to return AED 8.23bn in dividends to our shareholders,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.
Demand for energy in the first 9 months of 2022 reached 40.7 TWh compared to 38.6 TWh in the first 9 months of 2021. Further, DEWA’s peak demand in the first 9 months of 2022 was 9.5 GW, which represents a 3.3% increase over the same period of last year.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005703/en/
Contact information
Dubai Electricity and Water Authority
Khuloud Al Ali, +971563974965
Media@dewa.gov.ae
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Royal London Asset Management Expands Relationship with SS&C to Service New Australian Funds27.5.2026 01:00:00 EEST | Press release
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Royal London Asset Management, a leading U.K. fund management company, has extended its relationship with SS&C. SS&C Global Investor & Distribution Solutions will provide fund administration and unit registry services for its new range of Australian active funds, including: Royal London Global Equity Diversified Fund Royal London Global Equity Enhanced Fund Royal London Global Equity Select Fund Royal London Short Duration Global High Yield Bond Fund RLAM is part of Royal London, the U.K.’s largest mutual life, pensions and investment company. SS&C services approximately £72bn in assets under management across its U.K. fund range. Equity Trustees will serve as the Responsible Entity for RLAM’s new funds, which have launched with around AUD $1 billion in AUM. The unit trusts are structured as feeder funds, providing investors with indirect exposure to RLAM’s range of Dublin-domiciled Undertakings for Collective Investm
SLB Announces Date for Second-Quarter 2026 Results Conference Call26.5.2026 20:00:00 EEST | Press release
SLB (NYSE: SLB) will hold a conference call on July 24, 2026, to discuss the results for the second quarter ending June 30, 2026. The conference call is scheduled to begin at 9:30 a.m. U.S. Eastern time and a press release regarding the results will be issued at 7:00 a.m. U.S. Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 715-9871 within North America or +1 (646) 307-1963 outside of North America approximately 10 minutes prior to the start of the call and the access code is 3440360. A webcast of the conference call will be broadcast simultaneously at https://events.q4inc.com/attendee/157027565 on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until July 31, 2026, and can be accessed by dialing +1 (800) 770-2030 within North America or +1
Alipay Launches Next-Generation AI Payment Infrastructure, Debuts AI Wallet and Token Pay to Power Agentic Economy26.5.2026 18:20:00 EEST | Press release
Alipay today introduced its full-stack AI payment solution to partners across industries, ranging from AI companies to traditional retailers, and debuted two new services — the world’s first AI Wallet and Token Pay — to support the agentic economy’s rapid growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526337824/en/ Alipay Unveils Next-generation AI Payment Infrastructure This launch extends Alipay's next-generation AI payment infrastructure, building on its consumer-facing product Alipay AI Pay and its business-facing AI payment processing product. “While the essence of commerce remains unchanged in the age of AI, the emergence of AI agents is reshaping everything. Drawing on 22 years of technological expertise and commercial know-how, Alipay is building a new generation of AI payment services to accelerate the growth of the agentic commerce ecosystem,” said Cyril Han, CEO of Ant Group. AI Wallet: Giving Users Vis
Daiichi Sankyo Europe Reaffirms Commitment to Patient-Centred Care with Extensive Data Showcase at EAS Congress 202626.5.2026 18:00:00 EEST | Press release
Daiichi Sankyo Europe (DSE) is pleased to announce its extensive scientific presence at the European Atherosclerosis Society (EAS) Congress 2026. The presentation of 15 abstracts, comprising both clinical trial analyses and real-world evidence, underscores the company's sustained investment in cardiovascular health and its mission to care for every heartbeat. The 15-abstract showcase provides a comprehensive look at the role of bempedoic acid in lipid management. This includes post-hoc analyses in collaboration with Esperion Therapeutics from the Phase 3 CLEAR Outcomes trial exploring its impact on stroke and venous thromboembolism (VTE) incidence.5,6 There are also real-world findings from the MILOS registry, including a dedicated sub-analysis investigating the effectiveness of bempedoic acid across various background therapies.1,2,3,4 Results reinforce consistent effectiveness and safety profile of bempedoic acid across various EU countries and regardless of patients’ existing treatm
OpenRouter Raises $113 Million CapitalG-led Series B as Weekly Volume Explodes to 25T Tokens26.5.2026 16:15:00 EEST | Press release
OpenRouter, the AI model exchange, today announced a $113 million Series B led by Alphabet’s independent growth fund, CapitalG, with participation from investors including NVentures (NVIDIA’s venture capital arm), ServiceNow Ventures, MongoDB Ventures, Snowflake Ventures, Databricks Ventures, alongside existing investors including Andreessen Horowitz and Menlo Ventures. OpenRouter’s volume has surged to 25 trillion tokens per week (100 trillion tokens per month), representing a 5X increase from the 5 trillion tokens processed per week just six months ago. The explosion in token demand illustrates how quickly enterprises are deploying agents and scaling AI across multiple models and providers. OpenRouter’s infrastructure manages and optimizes inference and provides access to 400+ models across leading AI providers, including Anthropic, Google, OpenAI, xAI, and DeepSeek, among others. The platform is used by over 8 million global users, including AI-native startups and large enterprises,
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom