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What to expect for DEWA Q2 2026

Dubai Electricity and Water Authority (DEWA) headquarters building
Argaam provides an outlook on the expected results for Dubai Electricity and Water Authority (DEWA) for Q2 2026. The report also covers quarterly revenue and profit development as well as performance and profitability indicators.
|
Quarterly revenue development – AED mln |
|||||
|
Item |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
|
Revenue |
8,637.5 |
10,316.0 |
7,924.2 |
6,451.8 |
8,979.6 |
|
YoY change (%) |
+9.8% |
+4.5% |
+6.5% |
+8.2% |
+4.0% |
|
Quarterly net income development – AED mln |
|||||
|
Item |
2Q 2025 |
3Q 2025 |
4Q 2025 |
1Q 2026 |
2Q 2026 |
|
Net income |
2,257.6 |
3,611.0 |
1,980.5 |
904.7 |
2,402.8 |
|
Exceptional items* |
12.1 |
577.0* |
259.0** |
72.2 |
0.0 |
|
Net income before exceptional and non-recurring items |
2245.5 |
3034.0 |
1721.5 |
832.5 |
2402.8 |
|
EPS excluding non-recurring items (fils/share) |
4.49 |
6.07 |
3.44 |
1.66 |
4.81 |
*Includes financial compensation, insurance claims, disposal of properties and equipment, and scrap sales.
Key events in Q2 2026:
Shareholders approved an interim cash dividend of AED 3.1 billion (6.2 fils/share) for H2 2025.
The company inaugurated ‘Al Shera’a, the new headquarters of the Dubai Electricity and Water Authority (DEWA), in Al Jaddaf. The iconic landmark, which reflects Dubai’s global leadership in innovation and sustainability, is the world’s tallest, largest and smartest net-positive government building.
The company announced the establishment of "DEWA Global," a wholly owned and independent subsidiary of the authority, with a mandate covering the energy and water sectors. DEWA Global will focus on developing traditional and clean energy projects using the latest technologies, in partnership with leading organizations to execute joint projects worldwide.
Average forecasts for Q2 2026
The company is estimated to generate a net profit of AED 2,402.8 million, up 7% YoY, according to averae estimates by six research houses.
|
Consensus (research houses) |
|
|
Research house |
Forecasts (AED mln) |
|
Al Mal Capital |
2,529.0 |
|
United Securities |
2,500.0 |
|
Goldman Sachs |
2,500.0 |
|
Morgan Stanley |
2,500.0 |
|
First Abu Dhabi Securities |
2,302.0 |
|
Citi Group |
2,086.0 |
|
Consensus |
2,402.8 |
|
Net income before exceptional and non-recurring items (Q2 2025) |
2,245.5 |
|
Variance (%) |
+7% |
|
Stock performance |
||
|
Item |
Company |
Market |
|
Change YTD |
(1.81%) |
(4.26%) |
|
Change (last 12 months) |
(2.51%) |
(6.13%) |
|
Previous close |
2.72 |
5,789.73 |
|
Recurring P/E (x) |
17.36 |
9.22 |
|
Trailing 12-month EPS excluding exceptional and non-recurring items (fils/share) |
15.67 |
-- |
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