Abu Dhabi – Mubasher: The net profits attributable to the shareholders of Abu Dhabi National Energy Company (TAQA) reached AED 6.51 billion in the first nine months (9M) of 2022, versus AED 4.25 billion in 9M-21.

Revenues amounted to AED 38.66 billion in January-September 2022, higher by 14% than AED 34.04 billion during the same period in the previous year, according to the income statements.

Additionally, the basic and diluted earnings per share (EPS) attributable to the equityholders stood at AED 0.06 in 9M-22, up from AED 0.04 in 9M-21.

During the third quarter (Q3) of 2022, TAQA generated AED 2.23 billion net profits attributable to the owners, compared to AED 1.40 billion in the year-ago period

The revenues jumped to AED 13.69 billion in Q3-22 from AED 11.98 billion in Q3-21, while the basic and diluted EPS attributable to the shareholders rose to AED 0.02 from AED 0.01.

In line with TAQA’s dividend policy, the company’s board announced interim cash dividends worth AED 675 million, equivalent to 0.60 fils per share, for Q3-22.

Jasim Husain Thabet, Group CEO and Managing Director of TAQA, commented: “The 9M-22 saw TAQA deliver another set of strong financial results, reflecting strong performance across all our businesses.”

Thabet noted: “Other highlights during Q3-22, include, announcing the successful financial close of a $3.80 billion strategic first-of-its-kind project to power and significantly decarbonise ADNOC’s offshore production operations.”

He added: “We also signed agreements to invest, alongside Mubadala, in the privatization of two gas-fired power generation plants in the Talimarjan complex in Uzbekistan, representing another credible milestone towards our commitment to deliver 15 gigawatts (GW) of new international capacity by 2030.”

The CEO mentioned: “We also refinanced our $3.50 billion revolving credit facility allowing us to extend the final maturity date of the facility from 2024 to 2027 whilst also reducing cost, as well as completing the $1.09 billion long-term refinancing of the MIRFA InternationalPowerand Water Plant (Mirfa IWPP).”

In the first half (H1) of 2022, TAQA witnessed a hike in net profit attributable to the owners to AED 4.28 billion, compared to AED 2.85 billion in H1-21.