Abu Dhabi National Energy Company (TAQA) achieved net profits attributable to the equityholders worth AED 8.03 billion in 2022, higher than AED 5.96 billion in 2021.

Revenues amounted to AED 49.96 billion during the January-December 2022 period, up 10.30% year-on-year (YoY) from AED 45.29 billion, according to the consolidated income statements.

The basic and diluted earnings per share (EPS) attributable to the owners from continuing operations reached AED 0.07 in 2022, versus AED 0.05 a year earlier.

Meanwhile, the total assets increased to AED 181.50 billion as of 31 December 2022, compared to AED 180.19 billion in 2021.

Dividends

The company’s board greenlighted dividends of 3.30 fils per share for the fourth quarter (Q4) of 2022. In line with the approved 2020–2023 dividend policy, the Q4-22 dividends comprise final and special dividends of 1.20 fils per share and 2.10 fils per share, respectively.

Subject to the approval of the shareholders, TAQA would pay out AED 3.71 billion on 4 April 2023.

In this regard, the ADX-listed firm unveiled total dividends worth 5.10 fils per share, equivalent to AED 5.73 billion, for 2022.

Mohamed Hassan Alsuwaidi, Chairman of TAQA, underlined: “TAQA’s record results in 2022 are a continuation of a positive trajectory that is anchored in compelling market opportunities, investment grade credit ratings, and higher ESG ratings from global agencies.”

Alsuwaidi elaborated: “As part of these efforts, the company acquired a controlling stake in national clean energy champion Masdar, which is set to allow TAQA to reach its 2030 objective of having more than 30% of its generation portfolio come from renewables ahead of target.”

“With an exceptional track record, a market-leading position, and a bright outlook, TAQA is ideally positioned to deliver on its strategic goals for 2030 and beyond,” the Chairman added.

In the first nine months (9M) of 2022, the UAE-based company logged net profits attributable to the equityholders worth AED 6.51 billion, a jump from AED 4.25 billion in 9M-21.

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