Dubai Electricity and Water Authority PJSC (DEWA) has announced its financial results for the first half of 2025, reporting a record revenue of AED 14.6 billion, which marks a 6.9% increase compared to the same period last year. Profit after tax reached AED 2.9 billion, up by 13.2% year-on-year, while operating cash flow rose sharply by 61.3% to AED 9.2 billion.
For the second quarter of 2025, DEWA posted revenue of AED 8.6 billion and profit after tax of AED 2.4 billion, representing increases of 9.8% and 25.8%, respectively, over the previous year’s figures for the same period.
The Board has approved a dividend payment of AED 3.1 billion for the first half of the year, scheduled for distribution in October 2025.
HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA, stated: “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.”
He added: “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%, 5.3%, and 13.2% respectively. Operating cash flow reached a record AED 9.2 billion, up 61.3% 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.Our results demonstrate the resilienceof our modelandthe abilityto generate strong returns while advancing Dubai’s sustainable development.Looking ahead,we expect consistent value creationfor our stakeholders,supportedbyDubai’seconomicgrowthour robust business modelandour sector leadingoperational benchmarksthat are acknowledgedtobe No1 globally.”
The company attributes its increased revenue primarily to continued growth in electricity and water demand as well as expansion in district cooling services through Empower—of which DEWA owns a majority stake—and improved operating efficiencies across core segments.
Capital expenditure during this period was reported at AED 4.6 billion; investments were made into generation capacity enhancements as well as transmission networks upgrades.
During Q2 2025 alone,the total energy generated including imports from independent power producers reached16 .9TWh,a10 .88 %increaseoverQ22024.DEWAgenerated3 .3TWhofcleanenergyinQ22025,makingup19 .46 %ofthetotalenergyoutputfor thatquarter.DEWAdeliveredenergyfromvariousplantsincludingHassyanpowerplant(2 .18TWh)anditsremaininggenerationportfolio(11 .46TWh).
Water production also saw significant growth.Total desalinated water output climbedby9 .55 %year-over-yeartoreach40 .78billionImperialGallonsinthequarter.Thecompany’scustomerbasegrewto1 ,292 ,487accounts—an increaseof4 .81 %comparedtothepreviousyear’sfigures.
In terms ofinfrastructuredevelopment,Q22025sawthecommissioningoftwo132kVsubstationsand48311kVsubstations.Bymid-year,totalinstalledgenerationcapacitystoodat17 ,979MWwithrenewableenergysourcesaccountingfor3 ,860MW.Installeddesalinatedwaterproductioncapacitywas495MIGD.
Looking ahead,the company aimsfora total installed power generation capacityof22GWby2030—withapproximately34 %fromrenewables—and735MIGDwaterproductioncapacity,outofwhich308MIGDwilluserenewable-poweredreverseosmosistechnology.
DEWA’s current dividend policy expects minimum annual payments totalingAED6 .2billionoverthefirstfiveyearsstartingOctober2022,payablesemi-annually.DividendsforH12025havebeenapprovedbasedonarecorddateof17October2025,andfullfinancialstatementsareavailableon https://www.dewa.gov.ae/en/investor-relations or on https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA .
Establishedin1992afterthemergeroftheDubaiElectricityCompanyandDubaiWaterDepartment,andlistedontheDubaiFinancialMarketinApril2022(DEWAattractedUS$85billiondemandwith37timesoversubscription),theutilityprovideselectricityandpotablewatertoendusersacrossDubai.Besidesowninga56%stakeinEmpower,itmanagesotherbusinessessuchasMaiDubai(bottledwater),DigitalDEWA(digitalservices),andEtihadESCO(energyefficiencysolutions).Moreinformationisavailableat http://www.dewa.gov.ae .
