DOHA, QATAR – Qatar Electricity & Water Co. disclosed its net profit of US$426 million (QR 1,551,436,000) for the twelve-month period ending December 31, 2023.
This is a fall in the compared to the annual net profit of US$470 million (QR 1,710,809,000) for the same period of the previous year.
The earnings per share (EPS) amounted to US$0.38 (QR 1.41) as of December 31, 2023 versus QR 1.56 for the same period in 2022.
Cash dividend proposal will be presented to the general assembly meeting to distribute QR 0.86 per share compared to QR. 0.95 for the previous year.
QEWC reported revenue of US$799 million (QR 2,911 million) compared to US$747 million (QR 2,721 million) during the same period in 2022.
During the year, QEWC market share in Qatar in the supply of electricity was 61 percent and desalinated water was 71 percent.
It remains to be in an excellent financial position with a strong credit rating of A1 with stable outlook from Moody’s.
