DEWA records higher net profits in 2022; special dividends unveiled

DEWA records higher net profits in 2022; special dividends unveiled

Dubai – Dubai Electricity and Water Authority (DEWA) announced consolidated net profits worth AED 7.96 billion in 2022, an annual increase of 22% from AED 6.55 billion.

The earnings per share (EPS) stood at AED 0.15 last year, compared with AED 0.12 in 2021, according to the financial results.

The consolidated revenues soared by 15% year-on-year (YoY) to AED 27.35 billion in 2022 from AED 23.82 billion.

Furthermore, DEWA’s total assets surged to AED 180.94 billion at the end of December 2022, compared to AED 169.40 billion as of 31 December 2021.

Full-Year Standalone Income Statements

As for the non-consolidated financial results of DEWA, the authority witnessed a YoY leap of 101% in net profit to AED 11.06 billion in 2022 from AED 5.49 billion.

The standalone EPS rose to AED 0.22 last year, compared to AED 0.11 in 2021.

The revenues also grew by 16% on an annual basis, reaching AED 25.16 billion during January-December 2022 from AED 21.74 billion.

DEWA’s total non-consolidated assets increased to AED 146.94 billion in 2022 from AED 141.61 billion in 2021.

Consolidated Financial Results for Q4

During the fourth quarter (Q4) of 2022, the UAE authority generated net profits worth AED 1.49 billion, a YoY jump of 25% from AED 1.19 billion.

The revenues