2.1 billion dirhams net income "energy" During the first quarter of 2026
Abu Dhabi, May 15, 2026 – Abu Dhabi National Energy Company (TAQA) recorded revenues amounting to 13.7 billion dirhams during the first quarter of the current year 2026, according to the financial statements issued by the company today.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 5.5 billion dirhams, compared to 5.3 billion dirhams during the first quarter of 2025, driven by an increase in contributions from joint ventures and associate companies, in addition to stabilizing revenues from the group’s business in the regulated utilities sector. Net income attributable to Taqa shareholders also stabilized at 2.1 billion dirhams.
TAQA continued to invest in basic infrastructure, as capital spending rose to 3.2 billion dirhams, an increase of 45.5% year-on-year, reflecting the acceleration of investments in the electricity, water, and transportation networks sectors.
Free cash flows reached AED 4.8 billion, in line with the previous year, as higher operating cash flows offset increased spending on capital projects.
During the first quarter of 2026, TAQA shareholders elected a new Board of Directors, with His Excellency Jassim Mohammed Bu Ataba Al Zaabi appointed to the position of Chairman of the Board of Directors.
Shareholders also approved an updated dividend distribution policy for the period 2026-2028, so that the new policy maintains the formation of annual profits from two components of the total annual profits: fixed profits and variable profits, with the expectation that fixed profits will continue to grow year after year.
Jassim Hussein Thabet, Group CEO and Managing Director of Abu Dhabi National Energy Company (TAQA), said that during the first quarter of 2026, TAQA continued its stable operations and achieved flexible results.
He added that TAQA’s priorities, as a leading utility company at the national and global levels, during this period were to ensure the safety and health of its employees, in addition to ensuring the continuity of providing basic electricity and water services to millions of people who depend on them.
He pointed out that, relying on stable returns from the company’s regulated business and long-term supply contracts for contracted work, the company continued to invest with discipline locally and internationally to achieve long-term growth. In the UAE, TAQA has made progress in implementing strategic projects that support industrial growth, contribute to the transformation process in the energy sector, and enhance the readiness of its infrastructure for the future.
He said that on the international level, TAQA continues to make progress in completing the planned acquisition of GS Enema, in addition to developing TAQA projects in both the Kingdom of Morocco and the Kingdom of Saudi Arabia, in addition to supporting the continued growth of Masdar Company, as we are its largest shareholder.
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