Dubai Electricity and Water Authority (DEWA) has announced its consolidated financial results for the first half of 2025, showcasing record operational and financial performance.
For the six-month period ending 30 June 2025, DEWA reported:
- Revenue: AED 14.6 billion (+6.9 percent YoY)
- EBITDA: AED 7.0 billion (+5.3 percent YoY)
- Operating profit: AED 3.7 billion
- Net profit: AED 2.9 billion (+13.2 percent YoY)
- Cash from operations: AED 9.2 billion
These results reflect robust demand growth for utilities, and continued expansion in district cooling through Empower. Enhanced operational efficiencies and disciplined cost control contributed to improved profitability, while net finance costs declined by 15.45 percent year-on-year.
Capital expenditure and strategic outlook
DEWA’s capital expenditure for the first half stood at AED 4.6 billion, supporting investments in generation capacity, transmission networks, and district cooling infrastructure.
DEWA expects stronger revenue and profit in the second half of the year due to seasonal business patterns. The utility remains committed to long-term growth through strategic investments in clean energy, water desalination, and digital infrastructure, aligned with Dubai’s Green Economy vision.
Operating highlights – Q2 2025
- Total energy generation, including energy imports from IPPs, reached 16.9 TWh, a 10.88 percent increase from Q2 2024 (15.3 TWh).
- Of this, 3.3 TWh was generated from clean energy, representing 19.46 percent of total generation in Q2.
- Hassyan Power Plant contributed 2.18 TWh, with the remaining generation portfolio delivering 11.46 TWh.
- Quarterly peak power demand rose 2.95 percent year-on-year to 10.545 GW.
- DEWA achieved a gross heat rate of 7,693 BTU/kWh, improving 7.01 percent compared to Q2 2024, underscoring enhanced efficiency.
Water desalination and customer growth
- Total desalinated water production in Q2 2025 reached 40.78 billion imperial gallons (BIG), up 9.55 percent year-on-year.
- Peak daily water demand hit 475 MIG, a 5.87 percent increase from the same period last year.
- DEWA served 1,292,487 customer accounts at the end of Q2 2025, marking a 4.81 percent increase year-on-year.
Infrastructure developments
In Q2 2025, DEWA commissioned:
- Two 132 kV substations
- 483 11kV substations
As of 30 June 2025, DEWA’s installed generation capacity reached 17.979 GW, of which 3.860 GW came from renewable energy. Installed water desalination capacity stood at 495 MIGD.
Looking ahead, DEWA aims to reach:
- 22 GW of total installed power capacity by 2030, including 7.5 GW from renewables (34 percent)
- 735 MIGD water desalination capacity, with 308 MIGD using reverse osmosis technology powered by renewable energy
Dividend policy and shareholder returns
DEWA remains committed to delivering value to shareholders through a clear and consistent dividend policy. The company plans to distribute a minimum annual dividend of AED 6.2 billion for the first five years following its listing in October 2022.
- On 10 April 2025, DEWA paid AED 3.1 billion in dividends for H2 2024, with a record date of 3 April 2025.
- For H1 2025, DEWA has secured the necessary approvals to distribute another AED 3.1 billion to shareholders, with a record date of 17 October 2025.
H.E. Saeed Mohammed Al Tayer, vice chairman, managing director, and CEO of DEWA, said: “DEWA is committed to be an innovative and sustainable corporation inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
“Under their guidance, we are progressing in our journey towards Net Zero Carbon by 2050 and will continue to play a decisive role in Dubai’s rapid progress.”
“We are proud to report DEWA’s strongest-ever financial results for both the 2nd quarter and first half of 2025 – a reflection of disciplined execution, growing demand, and our commitment to operational excellence. In H1 2025, we achieved AED 14.6 billion in revenue, AED 7.0 billion in EBITDA, and AED 2.9 billion in net profit – marking growth of 6.9 percent, 5.3 percent, and 13.2 percent, respectively.
“Operating cash flow reached a record AED 9.2 billion, up 61.3 percent year-on-year. Also, we approved a dividend of AED 3.1 billion for H1, 2025, which is payable in October, 2025. To date we have invested over AED 230 billion in state-of-the-art infrastructure,” Al Tayer added.
DEWA’s performance demonstrate the resilience of its model and the ability to generate strong returns while advancing Dubai’s sustainable development.
