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
Hyper Brings its Latest Range of Power, Connectivity and MacBook Accessories to IFA 20264.9.2026 08:00:00 EEST | Press release
Messe Berlin – IFA 2026 (Hall 5.2, Stand 179) – Hyper®, an innovator of mobile accessories for Apple users, creators and mobile professionals, will showcase its latest lineup at IFA 2026, designed to make everyday mobile setups more personal, portable and productive across work, creating and travel. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260903870923/en/ Discover Hyper's latest MacBook accessories, power and connectivity solutions debuting at IFA 2026 Building on essential MacBook Neo accessories, the range expands across portable charging, privacy, workspace connectivity and carry solutions, led by HyperJuice Flex, Hyper’s colourful and accessible collection designed to make everyday power more portable and personal. “At IFA, we’re introducing an everyday ecosystem built around how people actually use their devices to work, create and travel,” said Gabi Iorio, Director, Global Sales and Marketing, Hyper. “From MacBo
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)3.9.2026 23:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to thirty-one newly hired non-executive employees. The equity awards were granted on September 1, 2026 and consisted of options to purchase an aggregate of 280,600 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 133,500 shares. The options have an exercise price per share equal to $13.24, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restr
Mainstay Medical Announces Two-Year Outcomes from RESTORE Clinical Trial of ReActiv8®3.9.2026 23:30:00 EEST | Press release
Mainstay Medical Holdings plc today announced the publication of the two-year assessment results from the RESTORE randomized clinical trial of ReActiv8 for the treatment of intractable chronic low back pain. The data show continued improvements in back pain-related disability, pain and quality of life in the ReActiv8 treatment group, and improvements after one year of ReActiv8 therapy in the crossover group that were indistinguishable from the improvements shown by the treatment group at their one-year assessment. The results were published in The Spine Journal, and the article is available free of charge here: https://doi.org/10.1016/j.spinee.2026.07.006. The study included 203 patients, with 99 randomized into the treatment arm and 104 randomized into the control arm. Patient-reported outcomes were collected at regular intervals to the one-year primary endpoint assessment, at which time the patients in the control arm were offered implantation with the ReActiv8 system. Eighty-three p
Lenovo Advances Hybrid AI Across New Personal and Enterprise Technology3.9.2026 19:00:00 EEST | Press release
Today at Lenovo™ Innovation World during IFA 2026, Lenovo unveiled a new portfolio of personal and enterprise technology, showing how its Hybrid AI strategy is moving from vision to practical experiences across devices, infrastructure, services, and the everyday moments that connect them. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260903555953/en/ Lenovo Innovation World at IFA 2026 The announcements bring together Lenovo’s “one personal AI, multiple devices” approach with enterprise technology that helps organizations turn data into insights and value. They span personal AI across PCs, smartphones, tablets, and wearables; creator and consumer devices that adapt to different ways of working and expressing ideas; and business technology built for AI-enabled productivity, collaboration, security, and scale. Lenovo also demonstrated how design and form factor remain central to making technology more useful: from high-perfor
Kaltura and Verimatrix Partner to Strengthen Security for OTT and Cloud TV Services3.9.2026 18:45:00 EEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260903384589/en/ Kaltura (Nasdaq: KLTR), the Agentic Digital Experience company, and Verimatrix (Euronext Paris: VMX), a leading provider of security solutions for a safer connected world, today announced a strategic partnership designed to provide enhanced protection for OTT and Cloud TV services. The partnership brings together Kaltura's scalable Cloud TV platform and Verimatrix's Digital Rights Management (DRM) and security capabilities. The joint solution, as part of Kaltura’s Marketplace, helps Telco’s, broadcasters, and media companies securely deliver premium live and on-demand content across a wide range of devices and operating systems. Demand for advanced content protection has grown, and Kaltura's Cloud TV footprint has expanded across Telco’s, operators, broadcasters, and media companies. Partnering with Verimatrix, a recognized leader in content pro
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