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
ARIS Announced as Exclusive Process Intelligence Launch Partner for AWS European Sovereign Cloud8.6.2026 10:00:00 EEST | Press release
ARIS, the process context foundation for enterprise AI deployment, today announced its collaboration with Amazon Web Services (AWS) to support organizations navigating increasingly complex digital sovereignty requirements while accelerating AI-driven transformation. Many European enterprises face growing pressure to ensure sensitive operational and business data remains under European governance and regulatory control. Through the AWS European Sovereign Cloud (ESC), they will be able to combine advanced cloud and AI capabilities with enhanced operational separation, EU-based governance, and strict data residency controls. ARIS will support customers looking to operationalize AI safely and at scale within these boundaries by providing the process intelligence, governance, and operational context required for trusted enterprise AI deployment. “AI is moving rapidly from experimentation to operational execution, but organisations cannot scale AI without trust, visibility, and control,” sai
Cosylab Launches PlanOne™ Treatment Planning System for Particle Therapy8.6.2026 09:00:00 EEST | Press release
Cosylab today announced the commercial launch of PlanOne™, a treatment planning system for particle therapy, bringing physics-accurate, radiobiologically informed planning and a unified clinical workflow into a single environment. PlanOne™ is FDA 510(k) cleared. "PlanOne™ began with listening. Over the years, our work on control systems in radiation oncology has put us in direct, ongoing contact with medical physicists and clinical teams at some of the leading facilities in the world," said Mark Pleško, CEO of Cosylab. "Our partners have been clear on what matters most for particle therapy: physics accuracy they can defend, clinical confidence at the point of plan approval, and a platform built to grow with AI and adaptive workflows. We designed PlanOne™ around those three priorities, and we'll keep developing it together with the clinical community that helped shape it." Physics-accurate, radiobiologically informed planning PlanOne™ is built on a GPU-accelerated Monte Carlo dose engin
BitGo MENA Launches Regulated Electronic Trading, Delivering Full Suite Trading Services to the Region8.6.2026 07:00:00 EEST | Press release
BitGo MENA FZE (“BitGo MENA”), a subsidiary of BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”), the digital asset infrastructure company, today announced the launch of electronic trading in the Middle East and North African (MENA). With this launch, clients can now access a comprehensive trading solution combining BitGo MENA’s established over-the-counter (OTC) trading offering with institutional-grade electronic execution, all operating under BitGo MENA’s Broker-Dealer license from Dubai’s Virtual Assets Regulatory Authority (VARA). The launch further expands BitGo MENA’s regulated product suite under VARA’s oversight, marking another step in the region’s continued buildout of institutional digital asset infrastructure amid growing demand for integrated execution and custody solutions. “The Middle East and North Africa has quickly become one of the most exciting regions in the world for digital assets, with regulators, institutions, and innovators moving with real purpose,” said Mike Bels
Vertex Presents New Data on ALYFTREK ® at European Cystic Fibrosis Conference5.6.2026 19:00:00 EEST | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data demonstrating the potentially transformative impact of treating cystic fibrosis (CF) with ALYFTREK ® (vanzacaftor/tezacaftor/deutivacaftor) in children ages 2 to 5, as well as data from 96-week interim analyses of two open-label extension studies of ALYFTREK in children 6 to 11 years and people 12 years and older demonstrating the long-term safety and efficacy profile of the medicine. The data, presented at the European Cystic Fibrosis Conference, show children ages 2 to 5 with vanzacaftor/tezacaftor/deutivacaftor-responsive genotypes including those who are homozygous for the F508del mutation (F/F) and those who have F508del/minimal function mutations (F/MF)on ALYFTREK had further improvement in CFTR function from a TRIKAFTA ® baseline as measured by sweat chloride (SwCl), with 65% having achieved SwCl <30 mmol/L after treatment with ALYFTREK. Vertex also presented Phase 3 data of children ages 1 to <2 with TRIKAF
Owkin to Build AI Agents as Part of a Multi-Year K Pro Collaboration with Sanofi5.6.2026 14:00:00 EEST | Press release
Owkin, the agentic AI company pioneering Biological Artificial Superintelligence to transform drug discovery and development, today announced a multi-year collaboration with Sanofi to co-develop next-generation biopharma agents, to be backed by a five-year license for K Pro, Owkin’s AI Scientist. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260605704506/en/ K Pro, Owkin's AI scientist for biology, powered by multimodal patient data for smarter biopharma decision making. Owkin and Sanofi have collaborated since 2021 through a €90 million strategic partnership focused on target identification in oncology and patient subgrouping. The collaboration was later expanded to include drug positioning for Sanofi’s immunology pipeline. This new collaboration represents the next evolution in the partnership. During the five-year collaboration, Owkin will lead the end-to-end development of novel AI-driven biopharma agents purpose-built
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