DUBAI, 12th November, 2026 (WAM) -- 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 consolidated financial results for the first nine months of 2026, with revenue of AED 25.74 billion, EBITDA of AED 13.43 billion, operating profit of AED 8.52 billion, profit after tax of AED 7.63 billion and cash from operations of AED 14.59 billion.
“DEWA continues its efforts in line with its vision, “A globally leading sustainable innovative corporation committed to achieving Net-Zero by 2050” inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and the directives of H.H. 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 H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. With their guidance and support, we continue to advance our journey towards Net Zero by 2050, while strengthening our contribution to Dubai’s sustainable economic growth and global competitiveness,” said Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA.
“DEWA delivered record financial results in the first nine months of 2026, achieving its highest-ever revenue and profit after tax for the period. Revenue increased by 3.3% to AED25.74 billion, while profit after tax rose by an impressive 11.7% to AED7.63 billion. These results reflect the resilience of our business model, the efficiency of our operations and our ability to create sustainable long-term value for shareholders, while supporting Dubai’s economic growth and development.
Our operational performance was equally strong. In the third quarter, gross electricity generation reached 21.37 TWh, with clean energy contributing 3.22 TWh, an increase of approximately 16.3% year on year. This demonstrates our ability to keep pace with Dubai’s growing energy needs while steadily increasing the contribution of clean energy. By continuing to invest in world-class infrastructure, clean and renewable energy, innovation and operational excellence, DEWA remains firmly positioned to support Dubai’s ambitious growth trajectory and deliver sustainable value for our customers, shareholders and the wider community,” added Al Tayer.
DEWA delivered another period of record financial performance during the first nine months of 2026, reinforcing the strength of its business model and its ability to generate sustainable value for shareholders. Supported by growing demand for essential utility services across Dubai, Group revenue increased by 3.3% for the first nine months of 2026 to AED25.74 billion, compared with AED24.92 billion in the corresponding period of 2025. Revenue growth across the Group's electricity, water, district cooling and other businesses reflects the breadth of DEWA's operations and its integral role in supporting the emirate's continued development.
This positive momentum was also reflected in profitability, with EBITDA increasing by 2.1% to AED13.43 billion and operating profit rising by 2.3% to AED 8.52 billion. Profit before tax reached AED 8.37 billion, while profit after tax grew by 11.7% to AED7.63 billion, compared with AED 6.83 billion a year earlier. These results underline DEWA's capacity to deliver consistent financial performance while supporting Dubai's growing infrastructure requirements.
The third quarter further demonstrated the strength of underlying demand, with revenue increasing by 5.4% year on year to AED10.87 billion and profit after tax rising by 9.2% to AED4.30 billion. Quarterly EBITDA stood at AED6.11 billion, while operating profit reached AED4.45 billion. Together with the AED3.1 billion dividend distributed to shareholders in October 2026, DEWA's performance underscores its continued commitment to balancing long-term investment with shareholder returns.
DEWA's operating performance during the third quarter of 2026 reflected Dubai's continued growth, with rising electricity demand, increasing clean energy generation and improvements in operational efficiency. As the emirate continues to develop, DEWA remains committed to providing the essential power and water services and innovative smart & digital solutions needed to support households, businesses and economic activity.
Gross electricity generation increased by 4.13% year on year to 21.37 terawatt hours (TWh), compared with 20.53 TWh in Q3 2025. Clean energy generation rose by approximately 16.3% year on year to 3.22 TWh compared with 2.77 TWh in Q3 2025, representing 15.1% of total quarterly generation. This 16.3% increase in clean energy output demonstrates the growing contribution of sustainable energy sources to Dubai's electricity supply, and supporting DEWA's long-term clean energy ambitions. Operational efficiency also continued to improve.
Peak electricity demand reached 11.682 GW, an increase of 2.55% year on year, while the gross heat rate improved by 4.89% to 7,268 BTU/ KWh.
This improvement reflects increased efficiency in converting fuel into electricity and underscores DEWA's focus on optimising operational performance while meeting growing demand. In water services, DEWA produced 43.99 billion imperial gallons of desalinated water during the quarter, supporting the emirate's essential water requirements. Peak daily water demand stood at 483 million imperial gallons.
DEWA's expanding customer base provides further evidence of the scale of Dubai's development and the growing reach of its essential services. As of 30 September 2026, DEWA served 1,380,844 customer accounts, an increase of nearly 72,000 (5.5%) customer accounts, compared to the same period last year. This growth reinforces the importance of continued investment in resilient, efficient and sustainable utility infrastructure to serve Dubai's residents, businesses and future generations.
As of 30 September 2026, DEWA’s system installed electricity generation capacity stood at 19,029 MW, including 4,910 MW of clean energy capacity.
DEWA’s installed desalinated water production capacity stood at 615 million imperial gallons per day (MIGD) as of Q3 2026, compared with 495 MIGD in Q3 2025.
DEWA plans to exceed 23 GW of installed power generation capacity and reach 735 MIGD of desalinated water production capacity by the end of 2030. Around 8.3 gigawatts (GW) of the planned generation capacity is expected to come from renewable energy, while 308 MIGD of desalination capacity is planned to use seawater reverse osmosis powered by renewable energy.
As per DEWA’s dividend policy, the Company expects to pay a minimum annual dividend of AED6.2 billion during the first five years starting October 2022, with dividends paid semi-annually in April and October. DEWA paid AED3.1 billion to shareholders on 20 April 2026 in respect of H2 2025. The H1 2026 dividend of AED3.1 billion was paid on 28 October 2026. The next dividend payment in respect of H2 2026 is scheduled to be paid in April 2027, subject to all necessary approvals.