Dubai Electricity and Water Authority PJSC announces record net profit of AED 3.33 billion for the first half of 2026

• Highest results in DEWA’s history for first-half 2026 consolidated financial results, recording record half-year revenue of AED 14.86 billion, EBITDA of AED 7.32 billion, operating profit of AED 4.07 billion and net profit of AED 3.33 billion
• Highest number of customer accounts at 1.36 million

*Figures are rounded. Ratios are based on actuals.

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, listed on the Dubai Financial Market (DFM), today reported its first-half 2026 consolidated financial results, recording record half-year revenue of AED 14.86 billion, EBITDA of AED 7.32 billion, operating profit of AED 4.07 billion and net profit of AED 3.33 billion.

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“DEWA is committed to being 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 of the UAE, 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 to Net Zero by 2050 and will continue to play a decisive role in Dubai’s rapid progress,” said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA.

“DEWA delivered record results in the first half of 2026, achieving its highest-ever first-half revenue, EBITDA, operating profit and net profit. Net profit increased by 15.02% to AED 3.33 billion, supported by sustained first-half demand for electricity, water and cooling services, continued customer growth and disciplined operational performance. During the second quarter, clean energy accounted for 19.9% of total power generated. These results reflect the continued strength of Dubai’s economy, the resilience of DEWA’s business model and our commitment to sustainability, operational excellence and long-term shareholder value. Subject to the necessary approvals, we expect to distribute a further AED 3.1 billion in October 2026,” added Al Tayer.

Quarterly Operational Performance Summary:

In the second quarter of 2026, DEWA generated 15.78 TWh of electricity. During this quarter, clean power generated reached 3.14 TWh, contributing 19.9% to total power generation.

Desalinated water production during the quarter reached 40.25 billion imperial gallons (BIG). DEWA increased its customer base by an impressive 18,220 customer accounts during the quarter. Over the last twelve months, ending 30 June 2026, the total number of customer accounts increased by 72,718, representing year-on-year growth of 5.63%

Delivering growth

By the first half of 2026, the Company’s system installed generation capacity had reached 17,979MW, of which, 3,860MW came from clean energy sources, representing 21.5% of the energy mix. 

In addition, DEWA commissioned Block A of the Hassyan Sea Water Reverse Osmosis (SWRO) plant, adding 60 MIGD to its water production capacity. DEWA’s SWRO capacity now represents 23% of its total desalination capacity. During 2026, DEWA expects to add an additional 120 MIGD of SWRO capacity.

By the end of 2030, DEWA plans to have a total installed power generation capacity exceeding 23GW and desalinated water production capacity of 735MIGD. Of the planned 23 GW, around 8.3GW will come from renewable sources, representing 36.1% and of the planned 735 MIGD of water production capacity, 308 MIGD will use seawater reverse osmosis technology powered by renewable energy.

Corporate Actions: Dividends, Dividend Policy and General Assembly

As per DEWA’s dividend policy, the Company expects to pay a minimum annual dividend of AED 6.2 billion during the first five years starting October 2022. The dividends are paid semi-annually in April and October. DEWA conducted its Annual General Assembly on 2 April 2026. On 20 April 2026, DEWA distributed AED 3.1 billion as dividend for H2, 2025 to its shareholders, based on a record date of 13  April 2026. The upcoming dividend of AED 3.1 billion for H1, 2026 is expected to be distributed in late October 2026, subject to all necessary approvals.

Audited Financials

DEWA’s audited financials can be found at DEWA’s website: https://www.dewa.gov.ae/en/investor-relations or on DFM’s website https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA

Contacts

For investor relations, please contact: dewainvestors@dewa.gov.ae

For media, please contact:

media@dewa.gov.ae

About Dubai Electricity and Water Authority PJSC

DEWA was created in 1992 as a result of the merger of the Dubai Electricity Company and the Dubai Water Department. DEWA is the exclusive electricity and water utility provider in Dubai. DEWA was listed on the Dubai Financial Market in April 2022. DEWA's attractive business profile, as viewed by investors, has led to the historic success of this public listing that attracted US$ 85 billion demand and 37 times oversubscription. The Group generates, transmits and distributes electricity and potable water to end users throughout Dubai. DEWA owns 80% of Empower, currently the world’s largest district cooling services provider by connected capacity, and owns, manages, operates and maintains district cooling plants and affiliated distribution networks across Dubai. The Group also comprises several other businesses including Mai Dubai, a manufacturer and distributor of bottled water, Digital DEWA, a digital business solutions company, and Etihad ESCO, a company focused on the development and implementation of energy efficient solutions. To learn more, visit http://www.dewa.gov.ae

Cautionary statements relevant to forward-looking information

This news release contains forward-looking statements relating to DEWA’s operations that are based on management’s current expectations, estimates and projections about the energy industry and other relevant industries that DEWA operates in. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” ”guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities,” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, DEWA undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.