Yesterday, Dubai Electricity and Water Authority (DEWA) announced its financial results for the first quarter of this year, recording revenues of 5.44 billion dirhams, an increase of 7.3% compared to the same period last year, while achieving a net profit of 763 million dirhams, a growth of 10.4%, while The authority’s total revenues during the past 12 months amounted to 27.7 billion dirhams, and net profits amounted to 8.1 billion dirhams.
increasing of demands
The authority stated in a statement that the increase in consolidated annual revenues for the first quarter was mainly driven by an increase in demand for electricity, water and cooling services, as well as an increase in the revenues of the authority’s other assets portfolio, as the quarterly revenue growth for electricity services increased by 7.2%, and for water services by 7.0%. And for cooling services by 4.6%, while revenues from other assets of the Authority increased by 11.2%.
energy
The volume of energy demand during the first quarter of this year reached 9.66 TWh, compared to 9.17 TWh during the same period in 2022, an increase of 5.3%.
The average energy consumption of customers during the first quarter of 2023 was higher than the average energy consumption during the same period of 2022.
water
During the first quarter of this year, the demand for water reached 32.3 billion imperial gallons, compared to 30.4 billion gallons last year, a growth of 6.25%.
The average consumption of water by customers during the first quarter of this year was higher than the average consumption in the same period of 2022.
Interactors
By the end of the first quarter of 2023, DEWA provided its services to 1,169,713 customers, an increase of 12,212 customers compared to the last quarter of last year, and 51,22 customers compared to the first quarter of last year.
optimism
Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, said, “The authority’s results in the first quarter of 2023 exceeded our expectations, reflecting the strong growth witnessed by the Emirate of Dubai.”
He added, “We are all confident and optimistic about DEWA’s operational and financial performance for the year 2023 and beyond, as the authority’s strategy focuses on achieving sustainable returns, sustaining growth and doubling the value of growth in the future, which forms the cornerstone of the basic value proposition for the shareholders of the authority.”
to support
Al Tayer stressed, “The authority’s efforts support the Dubai Economic Agenda (D33), which aims to double the size of Dubai’s economy over the next decade, as our strategies, growth pillars, and capital commitments are well positioned to achieve our ambitions in the field of energy transition within the framework of the Dubai Clean Energy Strategy.” 2050 and the carbon neutrality strategy 2050 for the Emirate of Dubai, to provide 100% of the energy production capacity from clean energy sources by 2050, while meeting the strong demand for the authority’s portfolio of exclusive services and products.
5.44
Billions of dirhams, the Authority’s revenues within 3 months.
2023-05-08 22:06:20
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