The Dubai Electricity and Water Authority announced yesterday its initial and unintended financial results for the year 2024, as the revenues of the Dubai Electricity and Water Authority group for the entire year amounted to 30.98 billion dirhams, profits before interest, taxes, depreciation and debt consumption 15.70 billion dirhams, and net profits of 7.24 billion dirhams after taxes .
In the fourth quarter of 2024, the group’s revenues amounted to 7.45 billion dirhams, profits before benefits, taxes, depreciation, debt consumption 3.95 billion dirhams, and net profits 1.76 billion dirhams, after taxes.
The Managing Director, CEO of the Dubai Electricity and Water Authority, Saeed Mohammed Al -Tayer, said: “We adhere to the highest standards of excellence and sustainability, 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, may God bless him, and the directives of His Highness Sheikh Hamdan bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense and Chairman of the Executive Council of the Emirate of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Governor of Dubai and Deputy Prime Minister and Minister of Finance, and thanks to their directives, Dubai Electricity and Water Authority continues its role The actor in the rapid development witnessed in the Emirate of Dubai.
Al -Tayer added: “In the formulation of our long -term strategy by seeing our wise leadership, which aims to achieve carbon neutrality by 2050, and for 2024, our standard revenues that amounted to about 31 billion dirhams and profits before benefits, taxes, destruction and debt consumption of about 16 billion dirhams, As a result of our commitment to sustainability and excellence in all of our activities and plans, and today, about 17.8% of the energy -based production capacity in the authority is from clean energy sources, and we are determined to maintain our leadership during the process of transformation in the field of energy ».
He continued: «We provide our services to more than 1.27 million customer accounts, and we have achieved global results in the lowest incomplete percentage of the electricity network (2%), the lowest lost in the water network (4.5%) and the lowest period of power outages for each subscriber with an average of less than one minute annually, and we seek To take advantage of the possibilities of digital transformation and artificial intelligence techniques to achieve more achievements in operating efficiency. ”
The annual revenues collected for the Dubai Electricity and Water Authority for 2024 increased by 6.18%, to reach 30.98 billion dirhams, driven mainly by increasing the demand for electricity, water and refrigeration services, and the Dubai Electricity and Water Authority group has achieved an increase in annual profits before the tax by 1.81%, to reach 7.98 billion dirhams during 2024.
In 2024, the commission produced 59.19 Tira, an hour of energy, compared to 56.14 Tero -hour in 2023, an increase of 5.42%. The Authority produced 6.62 Taewat hours of clean energy during the past year, an increase of 7.47% compared to the previous year, and clean energy constituted 11.2% of the total energy produced by the Dubai Electricity and Water Authority during the year 2024.
According to the profit distribution policy for the Dubai Electricity and Water Authority, the company expects to pay annual profits with a minimum of 6.2 billion dirhams during the first five years starting in October 2022, and the profits are distributed semi -annually in April and October, and on October 31, 2024, the Dubai Electricity and Water Authority distributed profits At a value of 3.1 billion dirhams on its shareholders for the first half of the year 2024, for the shareholders registered in the shareholders record on October 18, 2024, and the next batch of profits is expected to be distributed by 3.1 billion dirhams for the second half of 2024 in April 2025 after obtaining approval Dubai Electricity and Water Authority shareholders in the annual general assembly, and sending invitations to the upcoming annual general assembly holding the authority to the approval of the Securities and Commodities Authority in the UAE.
Increased annual demand for energy
The Dubai Electricity and Water Authority witnessed a noticeable increase in the annual atomic demand for energy during the year 2024, which amounted to 10.76 GB, an increase of 3.4% compared to 2023, and the authority’s production of desalinated water in 2024 increased to a record number of 150.48 billion imperialism, an increase of its amount 5.0% compared to the previous year.
By the end of 2024, Dubai Electricity and Water Authority had 1,270 million dealer accounts, as the number of customers’ accounts increased by 58,810 thousand accounts during the year, a significant increase of 4.85% compared to the previous year.
. 7.24 billion dirhams, net profits, after the tax, last year.
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