Dubai Electricity and Water Authority PJSC (DEWA) has reported record-breaking financial and operational results for the first quarter of 2026, driven by rising demand for electricity, water and cooling services across Dubai. The utility posted its highest-ever first-quarter revenue, EBITDA, operating profit and net profit in the company’s history.
DEWA recorded quarterly revenue of AED 6.45 billion, reflecting an 8.18% year-on-year increase compared to Q1 2025. EBITDA rose 18.44% year-on-year to AED 2.88 billion, while operating profit surged 53.58% to AED 1.29 billion. Net profit climbed nearly 90% year-on-year to AED 0.94 billion, highlighting the company’s strong operational performance despite ongoing geopolitical uncertainties.
The company also achieved record operational milestones during the quarter. Power generation reached 11.09 TWh, marking a 5.65% increase over the same period last year, while clean energy generation touched 2.06 TWh, contributing 18.5% of total electricity production. Desalinated water production rose 5.51% year-on-year to 37.57 billion imperial gallons (BIG).
According to Saeed Mohammed Al Tayer, the strong results reflect Dubai’s economic growth, sustained utility demand, and DEWA’s continued focus on sustainability, operational excellence and shareholder value. He noted that the company remains committed to supporting Dubai’s net-zero emissions target by 2050 through expansion of renewable energy and water infrastructure.
During the quarter, DEWA expanded its installed generation capacity to 17,979 MW, including 3,860 MW from clean energy sources, which now account for 21.5% of the total energy mix. The company also commissioned Block A of the Hassyan Sea Water Reverse Osmosis (SWRO) plant, adding 60 million imperial gallons per day (MIGD) to its desalination capacity and increasing total water desalination capacity to 555 MIGD.
DEWA further strengthened its transmission and distribution infrastructure by commissioning two 132kV substations and 400 substations in the 11-6.6kV network. Its EV Green Charger network also expanded to 2,223 charging points across Dubai.
The utility reaffirmed its dividend policy, under which it plans to distribute a minimum annual dividend of AED 6.2 billion during the first five years starting from October 2022. Following shareholder approval, DEWA distributed AED 3.1 billion in dividends for the second half of 2025 in April 2026 and expects to distribute another AED 3.1 billion for the first half of 2026 in October, subject to approvals.
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