Tribune News Network
Doha
Under the chairmanship of HE Saad Sherida Al Kaabi, Minister of State for Energy Affairs, the Board of Directors of QEWC approved the financial results for the year ended on 31st December 2023.
QEWC recorded revenue of QR2,911 million in FY2023 (increase of 7% compared to FY2022) and net profit of QR1,551 million compared to a net profit of QR1,711 million for the same period in 2022.
During the year, QEWC market share in Qatar in the supply of electricity was 61% and desalinated water was 71%
QEWC remains to be in an excellent financial position with a strong credit rating of ‘A1’ with stable outlook from Moody’s
The board has recommended a dividend per share of QAR 0.86 to be approved at the Annual Shareholders General Assembly on 10 March 2024.
Total Dividend payment will be QR 946 Million, which is 61% of the Net Profit of the company.
Operating profits amounted to QR1,336 million compared to QR1,199 million during the same period in 2022.
