DFM:DEWA Income Statement

Financials in millions AED. Fiscal year is January - December.

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	32,842	30,977	29,178	27,336	23,824
Revenue Growth (YoY)	6.02%	6.17%	6.74%	14.74%	7.02%
Operations & Maintenance	1,001	860.35	730.84	724.07	947.25
Selling, General & Admin	654.89	616.39	522.07	522.92	689.73
Depreciation & Amortization	236.14	295.09	240.69	301.33	335.59
Amortization of Goodwill & Intangibles	102.13	72.63	71.71	74.58	80.72
Provision for Bad Debts	-94.94	-97.94	47.24	144.53	77.87
Other Operating Expenses	20,121	20,287	19,123	17,406	15,481
Total Operating Expenses	22,020	22,033	20,735	19,174	17,612
Operating Income	10,822	8,944	8,443	8,162	6,212
Interest Expense	-1,825	-2,129	-1,617	-643.21	-380.9
Interest Income	400.66	351.49	414.47	201.08	136.02
Net Interest Expense	-1,424	-1,778	-1,203	-442.13	-244.88
Income (Loss) on Equity Investments	-	-	-	-	0.5
Other Non-Operating Income (Expenses)	475.37	436.17	287.1	272.58	596.7
EBT Excluding Unusual Items	9,873	7,603	7,527	7,992	6,564
Gain (Loss) on Sale of Investments	-	-	-	-	-10.74
Gain (Loss) on Sale of Assets	1.82	4.68	0.4	0.31	-
Insurance Settlements	130.95	353.31	23.17	40.06	-
Other Unusual Items	-3.29	22.2	290.8	13.88	-
Pretax Income	10,003	7,983	7,842	8,046	6,553
Income Tax Expense	947.6	748.91	-91.9	-	-
Earnings From Continuing Ops.	9,055	7,234	7,934	8,046	6,553
Minority Interest in Earnings	-708.46	-221.53	-232.94	-323.54	-430.34
Net Income	8,347	7,013	7,701	7,723	6,123
Net Income to Common	8,347	7,013	7,701	7,723	6,123
Net Income Growth	19.03%	-8.94%	-0.29%	26.13%	20.18%
Shares Outstanding (Basic)	50,000	50,000	50,000	50,000	50,000
Shares Outstanding (Diluted)	50,000	50,000	50,000	50,000	50,000
EPS (Basic)	0.17	0.14	0.15	0.15	0.12
EPS (Diluted)	0.17	0.14	0.15	0.15	0.12
EPS Growth	19.03%	-8.94%	-0.29%	26.13%	20.19%
Free Cash Flow	11,260	8,168	9,713	5,602	-2,248
Free Cash Flow Per Share	0.23	0.16	0.19	0.11	-0.04
Dividend Per Share	0.124	0.124	0.124	0.124	-
Profit Margin	25.41%	22.64%	26.39%	28.25%	25.70%
Free Cash Flow Margin	34.29%	26.37%	33.29%	20.49%	-9.44%
EBITDA	17,411	15,421	14,468	13,536	11,428
EBITDA Margin	53.02%	49.78%	49.59%	49.52%	47.97%
D&A For EBITDA	6,589	6,477	6,025	5,374	5,216
EBIT	10,822	8,944	8,443	8,162	6,212
EBIT Margin	32.95%	28.87%	28.94%	29.86%	26.07%
Effective Tax Rate	9.47%	9.38%	-	-	-

Source: S&P Global Market Intelligence. Utility template. Financial Sources.