DEWA reports record annual revenue of AED 30.98 billion for 2024

DUBAI, UAE, 10 February 2025: Dubai Electricity and Water Authority (DEWA) announced a record annual revenue of AED 30.98 billion, EBITDA of AED 15.70 billion and a net profit tax of AED 7.24 billion for 2024. Making the announcement through a Press Release, DEWA said it recorded revenues of AED 7.45 billion, EBITDA of AED 3.95 billion and net profit after tax of AED 1.76 billion for the fourth quarter of 2024.

According to DEWA, the primary reason behind the increase in revenue by 6.18% to AED 30.98 billion in 2024 is the rising demand for electricity, water and cooling services. DEWA said that on a like-for-like basis, it delivered an annual profit before tax increase of 1.81% to AED 7.98 billion.

DEWA said that in 2024 it generated 59.19 TWh of power, making a 5.42% annual increase from the 56.14 TWh recorded in 2023. At the same time, DEWA said, it generated 6.62 TWh of clean power in 2024, a 7.47% increase from 2023. The utility provider said clean power accounted for 11.2% of the total power generated in 2024. DEWA said it reached a peak demand growth of 10.76 GW, a 3.4% increase from 2023.

DEWA said it recorded a production of 150.48 billion imperial gallons of desalinated water in 2024, a five per cent increase compared to 2023. The peak demand for desalinated water reached 455 MIGD, a 4.92% increase over 2023, DEWA said.

At the end of 2024, DEWA said, it had 1,270,285 customer accounts, adding 58,810 accounts during the year, a 4.85% increase over the previous year.