{"id":87919,"date":"2024-11-12T00:00:00","date_gmt":"2024-11-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/12\/dewas-revenue-rises-profits-dip-in-3q-2024\/"},"modified":"2024-11-12T00:00:00","modified_gmt":"2024-11-12T00:00:00","slug":"dewas-revenue-rises-profits-dip-in-3q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/12\/dewas-revenue-rises-profits-dip-in-3q-2024\/","title":{"rendered":"Dewa\u2019s revenue rises, profits dip in 3Q 2024"},"content":{"rendered":"

Dubai Electricity and Water Authority saw its net income decline 14% y-o-y to AED 2<\/strong>.9 bn in 3Q 2024,<\/strong> according to the company's consolidated financial statements (pdf)<\/a>. The company's revenues climbed 4.8% y-o-y to AED 9.9 bn.<\/p>\n

On a 9M basis:<\/strong> Dewa reported a 10.7% decline y-o-y in net income to AED 5.5 bn. The authority booked a 6.2% y-o-y increase in its revenues to AED 23.5 bn on the back of an increase in demand for electricity, water and cooling services, according to a separate earnings release (pdf)<\/a>. <\/p>\n

Dewa has been busy this quarter: <\/strong>Dewa generated a record 19.6 TWh of electricity, marking a 3.98% increase from Q3 2023. Green energy contributed 1.8 TWh (9.18%) of the total, according to a statement (pdf)<\/a>. Dewa's peak demand reached 10.76 GW, a 3.41% y-o-y increase, while its quarterly gross heat rate of 7,923 BTU\/kWh set a new performance record.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company was recently acquired by Adnoc<\/p>\n","protected":false},"author":1,"featured_media":87920,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[106],"tags":[105,11,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseclimate","tag-uae","wpautop","entry"],"acf":{"mongo_id":"dfd7dba9-45b5-479f-a165-324dce73d244","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1047.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dewa\u2019s revenue rises, profits dip in 3Q 2024","related_issue":[87907],"teaser":"The company was recently acquired by Adnoc","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.ed8bbcda-4a89-4620-9533-4aeb0410a280.mp3"},"yoast_head":"\nDewa\u2019s revenue rises, profits dip in 3Q 2024 - 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