{"id":89574,"date":"2025-04-11T00:00:00","date_gmt":"2025-04-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/04\/11\/masdar-back-in-the-black-as-bottomline-swings-positive-for-fy-2024\/"},"modified":"2025-04-11T00:00:00","modified_gmt":"2025-04-11T00:00:00","slug":"masdar-back-in-the-black-as-bottomline-swings-positive-for-fy-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/04\/11\/masdar-back-in-the-black-as-bottomline-swings-positive-for-fy-2024\/","title":{"rendered":"Masdar back in the black as bottomline swings positive for FY 2024"},"content":{"rendered":"

\n

MASDAR-<\/p>\n

Masdar <\/strong>turns to the black in 2024: <\/strong>UAE\u2019s Masdar reported a net income of 412.5 mn in 2024, reversing a AED 44.7 mn loss from the previous year, according to its financials (pdf)<\/a>. The turnaround came despite a 3.9% y-o-y drop in revenues to AED 3.4 bn.<\/p>\n

ICYMI- Masdar\u2019s rebound hasn\u2019t gone unnoticed:<\/strong> Earlier this week<\/a>, Moody\u2019s upgraded the renewables giant to an A1 credit rating with a stable outlook, up from A2. The upgrade came on the back of strong backing from the Abu Dhabi Government and shareholders as the company pursues its 100 GW renewable energy capacity target by 2030.<\/p>\n

Accounting for FX losses and swings in derivative valuation<\/strong>, Masdar recorded a total comprehensive loss of AED 31.4 mn for the year, widening slightly from an AED 22.9 mn loss in 2023.<\/p>\n

\n

TADWEEER-<\/p>\n

National Environmental Recycling<\/a><\/strong> (Tadweeer) <\/strong>saw <\/strong>its net income grow 40.2% y-o-y in 2024 <\/strong>to SAR 36.2 mn<\/strong> on the back of improved production efficiency, tighter cost controls, and lower operational expenses from replacing rental assets with owned assets, according to a disclosure to Tadawul<\/a>. Meanwhile, the company recorded a 27.6% y-o-y growth in revenues during the year to SAR 806 mn, supported by the launch of a new production line and better utilization of existing lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Tadweeer sees a 40.2% y-o-y bottomline jump in 2024<\/p>\n","protected":false},"author":1,"featured_media":89575,"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":[105,11,160,159,496,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseclimate","tag-masdar","tag-saudi-arabia","tag-tadweeer","tag-uae","wpautop","entry"],"acf":{"mongo_id":"9691a064-5e94-455a-85f3-291e57da6f8a","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/605.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar back in the black as bottomline swings positive FY 2024","related_issue":[89557],"teaser":"PLUS: Tadweeer sees a 40.2% y-o-y bottomline jump in 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.93da712e-e208-477c-9e2e-f4e53fdd5501.mp3"},"yoast_head":"\nMasdar back in the black as bottomline swings positive for FY 2024 - 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