TAQA Group reports a 12.3% increase in Jan-June 2024 net profit to Dhs4.4bn, with revenues rising 2% to Dhs27.2bn.

Abu Dhabi's TAQA Group reported a 12.3% increase in net profit for Jan-June 2024, reaching Dhs4.4bn, with revenues up 2% to Dhs27.2bn. The utility firm's EBITDA rose 4% to Dhs10.9bn, thanks to SWS Holding and growth in earnings. However, free cash flow decreased by Dhs2.1bn due to capital expenditure on desalination projects. Gross debt decreased to Dhs58.6bn, down from Dhs61.7bn in 2023. TAQA also announced strategic acquisitions in Europe and North America to enhance its renewable energy portfolio.

August 14, 2024
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