Dubai Electricity and Water Authority reports nine-month profit of AED 7.63 billion on revenue of AED 25.74 billion, with equity down to AED 94.10 billion.
Dubai Electricity and Water Authority PJSC (DEWA) reported nine-month profit of AED 7.63 billion to September 30, up from AED 6.83 billion a year earlier, on revenue of AED 25.74 billion, the authority said on Thursday.
Revenue was 3.3 per cent higher than the AED 24.92 billion booked in the same period of 2025. The unaudited interim statements, reviewed by KPMG Lower Gulf, put profit attributable to the owners of the company at AED 7.11 billion, against AED 6.37 billion.
Basic and diluted earnings per share were AED 0.142, compared with AED 0.127 a year earlier.
In the three months to September 30, revenue was AED 10.87 billion, against AED 10.32 billion in the third quarter of 2025.
Quarterly profit was AED 4.30 billion, compared with AED 3.94 billion, and earnings per share were AED 0.078, up from AED 0.072.
Cost of sales for the nine months was almost flat at AED 15.05 billion, against AED 15.00 billion. Gross profit rose to AED 10.69 billion from AED 9.91 billion.
Administrative expenses grew faster, to AED 2.94 billion from AED 2.41 billion. Operating profit was AED 8.52 billion, compared with AED 8.33 billion.
A swing in net finance items accounts for much of the profit gain. DEWA recorded net finance income of AED 136.9 million, against a net finance cost of AED 625.3 million in the first nine months of 2025.
The segment breakdown shows electricity sales of AED 16.18 billion and water sales of AED 4.72 billion after eliminations. District cooling contributed AED 2.67 billion.
DEWA reports Empower as its district cooling business. The ownership table shows the group’s stake in Empower at 68 per cent at September 30, against 48 per cent at the end of 2025.
Total equity stood at AED 94.10 billion at September 30, down from AED 97.77 billion at the start of January.
Changes in ownership interest that did not alter control reduced equity by AED 5.19 billion. That is the same amount shown as a cash outflow in financing activities.
Dividends of AED 6.20 billion to owners were recognised in both 2026 and 2025. Cash dividends paid to owners were AED 3.10 billion in each period.
Net cash from operating activities was AED 14.59 billion, compared with AED 15.22 billion a year earlier. Cash and cash equivalents were AED 8.65 billion at the end of the period.
The Dubai Investment Fund (DIF) holds 82 per cent of DEWA, with the remaining 18 per cent held by other shareholders.
DEWA’s shares began trading on the Dubai Financial Market (DFM) on April 12, 2022, after an initial public offering of 18 per cent of the shareholding.
Revenue is weighted to the second half of the year. In 2025, 44 per cent of revenue was recorded in the first six months and 56 per cent in the second.
The statements say the nine-month results are not necessarily indicative of the results expected for the year ending December 31, 2026.
