Taqa profit rises despite sharp drop in oil and gas income

Abu Dhabi National Energy Company (Taqa) said net profit rose in 2025, supported by lower expenses and finance costs, as well as a decline in net foreign exchange losses.

Taqa’s bottom line rose nearly 6 percent year on year to AED7.5 billion ($ billion).

Revenue remained steady at AED55 billion, primarily driven by a 5 percent year-on-year growth in the transmission and distribution of power and water business. 

However, revenue from the oil and gas business declined 28 percent year on year, driven by lower commodity prices and continued production declines following the planned cessation of several UK North Sea fields.

Capital expenditure jumped by about half to almost AED15 billion, driven by investments in power, water and transmission infrastructure, including in the 1 gigawatt Al Dhafra thermal power plant and the execution of other projects.

The company’s board proposed a fixed dividend of 1.5 fils per share for the fourth quarter of 2025 and a variable dividend of 0.7 fils per share, bringing the proposed 2025 dividend to 4.45 fils per share.

Taqa’s share price closed 2.8 percent lower at AED3.07 on the Abu Dhabi Securities Exchange on Wednesday. The stock is down 9 percent in the year to date.

State-run Abu Dhabi Power Corporation owns 90 percent of Taqa.

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