Dubai utility posts highest-ever first-half revenue, EBITDA and profit as customer growth, rising demand and clean energy expansion drive performance
Dubai: Dubai Electricity and Water Authority (DEWA) reported record financial results for the first half of 2026, with net profit rising 15.02% to AED3.33 billion, supported by sustained demand for electricity, water and cooling services, continued customer growth and strong operational performance.
The utility recorded its highest-ever first-half results, with:
- Revenue: AED14.86 billion
- Operating profit: AED4.07 billion
- Net profit: AED3.33 billion
Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, said the results reflect the strength of Dubai’s economy and the utility’s resilience.
“DEWA delivered record results in the first half of 2026, achieving its highest-ever first-half revenue, EBITDA, operating profit and net profit.”
He added that net profit growth was driven by increasing demand, customer expansion and disciplined operational execution.
Clean energy contribution rises
During the second quarter of 2026, DEWA generated 15.78 terawatt-hours (TWh) of electricity.
Clean energy generation reached 3.14 TWh, contributing 19.9% of total electricity production during the quarter.
By the end of the first half, DEWA’s installed generation capacity had reached 17,979 megawatts (MW), including 3,860MW from clean energy sources, representing 21.5% of the energy mix.
Customer base continues to expand
DEWA added 18,220 customer accounts during the second quarter.
Over the 12 months ending 30 June 2026, total customer accounts increased by 72,718, representing annual growth of 5.63%.
Water capacity expansion
The utility also commissioned Block A of the Hassyan Sea Water Reverse Osmosis (SWRO) plant, adding 60 million imperial gallons per day (MIGD) to water production capacity.
SWRO facilities now account for 23% of DEWA’s total desalination capacity.
DEWA expects to add a further 120 MIGD of SWRO capacity during 2026.
2030 growth plans
By 2030, DEWA plans to increase:
- Total power generation capacity to more than 23GW
- Desalinated water production capacity to 735 MIGD
Of the planned power capacity, approximately 8.3GW will come from renewable energy sources, representing 36.1% of total generation capacity.
For water production, 308 MIGD is expected to be produced using seawater reverse osmosis technology powered by renewable energy.
Dividend distribution
Under its dividend policy, DEWA expects to distribute a minimum annual dividend of AED6.2 billion during the first five years following its 2022 listing.
The company distributed AED3.1 billion to shareholders in April 2026 for the second half of 2025.
Subject to approvals, DEWA expects to distribute a further AED3.1 billion dividend for the first half of 2026 in October 2026.
Source: Emirates 24|7