Dubai Electricity & Water Authority PJSC

Dubai Electricity & Water Authority PJSC

DEWA

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Dubai Electricity & Water Authority PJSC

Logotype for Dubai Electricity & Water Authority PJSC
Ticker/ISIN
DEWA
AED001801011
Market/Country
Dubai Financial Market
United Arab Emirates

About Dubai Electricity & Water Authority PJSC

The Dubai Electricity and Water Authority was created in 1992 as a result of the merger of the Dubai Electricity Company (“DEC”) and the Dubai Water Department (“DWD”), which were each established in 1959 by H.H. Sheikh Rashid bin Saeed Al Maktoum, the then Ruler of Dubai. Since then, the Group has been the exclusive provider of electricity and potable water in Dubai and its business has grown along with Dubai’s expanding economy, population and infrastructure.

On 30 December 2021 pursuant to Law No. (27) of 2021 (which repealed Ruler of Dubai Law No. (1) of 1992), the Company was established in its current form, as a public joint stock company, to succeed to the Dubai Water and Electricity Authority.

Company's Activities are detailed in AOA and Listing Prospectus.

Latest Pressrelease Summaries from Dubai Electricity & Water Authority PJSC

Dubai Electricity and Water Authority (DEWA) reported its highest-ever financial results for the first nine months of 2024, with a record revenue of AED 23.5 billion, marking a 6.2% increase from the previous year. The company also achieved a record EBITDA of AED 11.8 billion, up 4.71%, and cash from operations of AED 11.6 billion, up 17.83%. DEWA paid AED 3.1 billion in dividends to shareholders in October 2024. The results reflect DEWA's commitment to operational excellence, innovation, and sustainability, in alignment with Dubai's strategic goals for clean energy and net-zero carbon emissions by 2050.
On 11 November 2024, the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) held a meeting at 9:00 am. During this meeting, they approved the company's financial statements for the third quarter ending on 30 September 2024. The Board also reviewed general business matters. The notification was issued by Aakash Nijhawan, Group Head of Investor Relations, on behalf of DEWA.
A notification has been issued regarding a meeting of the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA). The meeting is scheduled for Monday, 11th November 2024, at 9:00 am. The agenda includes reviewing and considering the company's financial statements for the third quarter ending 30 September 2024, along with other business matters. The notice is issued by Aakash Nijhawan, Group Head of Investor Relations, on behalf of DEWA.
Dubai Electricity and Water Authority PJSC (DEWA) announced record-breaking financial results for the first half of 2024. The company reported its highest-ever quarterly and half-year revenue of AED 13.7 billion, marking a 7.3% increase. EBITDA reached AED 6.6 billion, up by 8.9%, and operating profit was AED 3.3 billion, a 6.3% rise. The profit after tax stood at AED 2.6 billion. DEWA also approved a dividend payment of AED 3.1 billion to shareholders in October 2024. The growth in demand for power and water was 6.7% and 4.3% respectively. DEWA aims to expand its power capacity to 20 GW and water capacity to 735 MIGD by 2030, with a significant portion coming from renewable sources. The company remains committed to efficiency, outstanding customer service, and supporting Dubai's 2050 Net-Zero emissions goal.
Dubai Electricity and Water Authority PJSC and its subsidiaries have released their condensed consolidated interim financial information for the six-month period ending June 30, 2024. This information is unaudited.
On 1 August 2024, Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, was notified of a Board of Directors meeting for Dubai Electricity and Water Authority PJSC (DEWA) scheduled for Thursday, 8 August 2024 at 9:00 am. The meeting agenda includes reviewing the company's financial statements for the second quarter ending on 30 June 2024, discussing the distribution of AED 3.1 billion in cash dividends for the first half of 2024 to be paid in October 2024, and addressing other business matters. The notification was signed by Aakash Nijhawan, Group Head of Investor Relations at DEWA.
Dubai Electricity and Water Authority (DEWA) has commissioned a new water reservoir in Enkhali, which has been connected to Dubai’s water network. The reservoir, with a storage capacity of 120 million imperial gallons (MIG), cost AED 287.8 million. This project is part of DEWA’s initiative to enhance the infrastructure for electricity and water, aiming to increase Dubai's water storage capacity. The UAE Water Security Strategy 2036 supports sustainable water access and addresses future challenges. DEWA's strategy includes other reservoirs in Lusaily, Hassyan, and Hatta, which will increase the total storage capacity to 1121.3 MIG of desalinated water upon completion. Additionally, the Aquifer Storage and Recovery (ASR) project will store up to 6,000 MIG by 2025, making it the largest of its kind globally. The Enkhali reservoir adheres to the highest international standards.
Dubai Electricity and Water Authority PJSC (DEWA) announced that Moody's has upgraded its long-term issuer rating from Baa2 to A3 with a stable outlook. This upgrade reflects positive macroeconomic trends in Dubai, DEWA's strong market position, robust asset base, favorable tariff structure, and strong liquidity profile. DEWA's leadership attributed the upgrade to the visionary guidance of Dubai's leaders. The improved rating is expected to enhance DEWA's financial and operational performance, ensuring consistent dividends for shareholders. According to DEWA's dividend policy, the company plans to pay a minimum annual dividend of AED 6.2 billion for the first five years starting October 2022.

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News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press Release

The Dubai Electricity and Water Authority (DEWA) has received the ISO 37301:2021 certification in Compliance Management, making it one of the first local and international entities to achieve this. The certification recognizes DEWA's adherence to all relevant laws, legislation, and requirements in its operations. The certificate was awarded to DEWA's CEO, Saeed Mohammed Al Tayer, by the Bureau Veritas team. DEWA aims to enhance a culture of compliance among its employees and stakeholders, and is committed to achieving net-zero by 2050. The company has been following governance standards since 2008 and has won three Global Good Governance Awards in 2022.

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FinanceBroAED

FinanceBroAED

Commented on RealEstateKings Transaction regarding Dubai Electricity & Water Authority PJSC

Hey RealEstateKing, I see you're diversifying into Utilities. Nice! Just remember, even if DEWA doesn't light up your portfolio, at least they'll keep your lights on! 😂 #PowerPlay
DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

The CEO of Dubai Electricity and Water Authority (DEWA), Saeed Mohammed Al Tayer, met with a delegation from the US Consulate General in Dubai and representatives from major American auto makers including General Motors, Ford, Tesla, and Stellantis. The meeting aimed to exchange knowledge and best practices regarding electric car infrastructure and to discuss DEWA’s Green Charger initiative. The initiative, launched in 2014, supports Dubai's strategies to increase renewable energy use and reduce carbon emissions. It has led to the installation of over 380 Green Chargers, providing access to over 700 charging points throughout Dubai. The US delegation commended DEWA's commitment to sustainable development and expressed interest in enhancing cooperation in sustainable transportation solutions and electric vehicle charging infrastructure.

1. Attached Document

DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

1. Attached Document

DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

1. Attached Document

DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

1. Attached Document

DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

1. Attached Document

DFM News

DFM News

News Update From Dubai Electricity & Water Authority PJSC

Disclosure: Press release

1. Attached Document

FinanceBroAED

FinanceBroAED

Commented on RealEstateKings Transaction regarding Dubai Electricity & Water Authority PJSC

Hey RealEstateKing, I see you're diversifying into Utilities. Bold move! But remember, even DEWA can't generate profits out of thin air! Let's hope your portfolio doesn't get a 'shock'! #PowerPlay
FinanceBroAED

FinanceBroAED

Commented on RealEstateKings Transaction regarding Dubai Electricity & Water Authority PJSC

Hey RealEstateKing, I see you're diversifying into Utilities. I hope DEWA lights up your portfolio like a Dubai skyline! Remember, even the Burj Khalifa had to start from the ground up. #PowerPlay
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