Abu Dhabi National Energy Company TAQA achieved a net profit growth of 72.6% to reach 1.365 billion dirhams in the third quarter of this year, compared to 791 million dirhams during the same period last year.
According to Arabiya Net, the company's revenues also grew by 11.3% to reach 12.077 billion dirhams, compared to 10.8 billion dirhams during the same period last year.
During the first nine months of this year, the company achieved a net profit growth of 86.5% to reach AED 4.294 billion, compared to AED 2.3 billion during the same period of the year. the past.
During that period, the company's revenues increased to 34.268 billion dirhams, compared to 13.671 billion dirhams, with a growth rate of 150.7%.
Capital expenditure amounted to 3.4 billion dirhams, an increase of 25% compared to the same period last year as a result of spending on transmission and distribution, the largest business sector in TAQA.< /p>
The company recorded strong levels of free cash flows, which amounted to 11.4 billion dirhams, which supported the improvement in cash flow, after the full payment of the company's credit facilities during the first half. of the year.
Total debt reached 68.3 billion dirhams, down from 76.0 billion dirhams at the end of 2020, which further improved the group's credit metrics.
