DEWA Posts Record Q1 2026 Revenue as Net Profit Nears AED 1 Billion
DEWA posts record Q1 2026 results with AED 6.45bn revenue and AED 0.94bn net profit; clean energy share rises as desalination capacity and customer numbers expand.
Dubai Electricity and Water Authority (DEWA) reported a strong start to 2026, announcing record quarterly revenue of AED 6.45 billion for Q1 2026 and a near doubling of net profit to approximately AED 940 million. The authority said its EBITDA rose to AED 2.88 billion, while operating profit climbed to AED 1.29 billion, underscoring improved margins and operational performance. DEWA also highlighted growth in production, clean energy contribution and water desalination capacity as key drivers of the results.
Record financial performance in Q1 2026
DEWA’s consolidated revenue of AED 6.45 billion marked an 8.18% increase year‑on‑year, driven by higher demand and tariff recoveries. EBITDA rose 18.44% to AED 2.88 billion, and operating profit surged 53.58% to AED 1.29 billion. Net profit for the quarter increased by 89.87% compared with Q1 2025, reflecting both top‑line growth and operational efficiencies.
Energy production and capacity expansion
Total energy output for the quarter reached 11.09 terawatt‑hours, up 5.65% from the same period last year, supporting the revenue gain. DEWA reported an installed generation capacity of 17,979 megawatts at the end of Q1 2026, including 3,860 MW from clean energy sources. That clean capacity represents 21.5% of the authority’s generation mix, a figure DEWA said it is poised to increase.
Clean energy contribution rises to nearly one‑fifth
Clean energy production in Q1 2026 totalled 2.06 terawatt‑hours, equivalent to 18.5% of total energy output for the period. DEWA noted the rising share of renewables and low‑carbon sources as part of its strategy to decarbonise Dubai’s power system. The authority emphasized that the expansion of clean capacity is being pursued alongside conventional generation to ensure reliability while reducing emissions.
Desalination output and reverse‑osmosis rollout
DEWA’s desalinated water production set a new quarterly record of 37.57 billion imperial gallons, an increase of 5.51% year‑on‑year. The authority commissioned Unit A of the Hassyan reverse‑osmosis (RO) desalination plant during the quarter, adding 60 million imperial gallons per day to capacity. DEWA said RO technology now represents 23% of its desalination throughput and that an additional 120 million gallons per day of RO capacity is expected to be brought online during 2026.
Customer growth and demand trends
Customer accounts rose sharply, with 19,803 new accounts added in Q1 2026 and 65,086 new accounts over the trailing 12 months, bringing the total to 1.347 million accounts. That represents a year‑on‑year increase of 5.08%, reflecting continued population growth and business activity across Dubai. DEWA linked the rise in accounts and energy consumption to broader economic momentum in the emirate.
Dividends and shareholder returns
DEWA disclosed that it paid dividends of AED 3.1 billion in April 2026 for the second half of 2025, and it expects to distribute a further AED 3.1 billion in October 2026 for the first half of 2026, subject to required approvals. The authority framed the dividend policy as part of efforts to maximise long‑term shareholder value while funding capital projects that expand capacity and sustainability initiatives. Management said the balance between returns and investment underpins DEWA’s financial strategy.
Saeed Mohammed Al Tayer, DEWA’s managing director and CEO, described the quarter as an “exceptional start” to 2026, pointing to record revenues, higher EBITDA and sharply improved net profit. He attributed the results to rising demand, operational excellence and a focus on sustainability, while noting that the performance also reflects the resilience of Dubai’s economy amid a challenging geopolitical backdrop.
DEWA’s Q1 2026 figures show simultaneous growth across revenue, profitability, production and customer base, supported by investments in clean energy and modern desalination technology. The authority’s guidance for further RO capacity additions and planned dividend distributions will be watched closely by investors and by stakeholders tracking Dubai’s infrastructure development.
