Dubai Electricity and Water Authority reported an 11.7 per cent year-on-year increase in profit after tax to a record Dh7.63 billion during the first nine months of 2026, supported by growing demand for electricity, water and district cooling services across the emirate.
The Dubai-listed utility said revenue rise 3.3 per cent to Dh25.74 billion, compared with Dh24.92 billion in the corresponding period last year, marking its highest nine-month revenue on record.
Earnings before interest, taxes, depreciation and amortization increased 2.1 per cent to Dh13.43 billion, while operating profit rose 2.3 per cent to Dh8.52 billion.
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Profit before tax reached Dh8.37 billion, while cash generated from operations stood at Dh14.59 billion.
Third-quarter profit rises 9.2%
During the third quarter of 2026, Dewa reported a 9.2 per cent increase in profit after tax to Dh4.30 billion, while revenue grew 5.4 per cent to Dh10.87 billion.
Quarterly Ebitda stood at Dh6.11 billion, with operating profit reaching Dh4.45 billion.
Saeed Mohammed Al Tayer, Vice Chairman and Managing Director and CEO of Dewa, said the results reflected the resilience of the authority’s business model and its operational efficiency.
“Dewa delivered record financial results in the first nine months of 2026, achieving its highest-ever revenue and profit after tax for the period,” he said.
He added that the utility continued investing in electricity and water infrastructure to support Dubai’s economic growth and rising demand.
Nearly 72,000 new customer accounts
Dewa ‘s customer base grew 5.5 per cent year-on-year to 1,380,844 accounts by the end of September 2026, an increase of nearly 72,000 accounts.
The expansion reflects continued growth in Dubai’s residential and commercial sectors, increasing demand for essential utility services.
Gross electricity generation rose 4.13 per cent year-on-year to 21.37 terawatt hours during the third quarter, compared with 20.53 terawatt hours a year earlier.
Clean energy generation increased 16.3 per cent to 3.22 terawatt hours, accounting for 15.1 per cent of total electricity generation during the quarter.
Peak electricity demand reached 11.682 gigawatts, up 2.55 per cent compared with the same period last year.
Meanwhile, Dewa produced 43.99 billion imperial gallons of desalinated water during the quarter, with peak daily water demand reaching 483 million imperial gallons.
Expanding electricity and water capacity
By the end of September Dewa ‘s installed electricity generation capacity reached 19,029 megawatts, including 4,910 megawatts of clean energy capacity.
Its desalinated water production capacity increased to 615 million imperial gallons per day, compared with 495 million imperial gallons per day a year earlier.
The utility plans to exceed 23 gigawatts of installed electricity generation capacity and increase desalinated water production capacity to 735 million imperial gallons per day by the end of 2030.
Around 8.3 gigawatts of its planned generation capacity is expected to come from renewable energy.
Dh3.1 billion dividend paid
Dewa distributed Dh3.1 billion in dividends to shareholders on October 28, 2026, relating to the first half of the year.
Under its dividend policy, the company expects to pay a minimum annual dividend of Dh6.2 billion during the first five years starting October 2022.
Its next dividend payment, relating to the second half of 2026, is scheduled for April 2027, subject to the necessary approvals.
Source: Khaleej Times