Abu Dhabi National Energy Company incurred losses of 1.93 billion dirhams during the first half of 2020, compared to profits of 214 million dirhams in the same period in 2019.
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According to the company's financial statements, these losses are due to a 19% decline in revenues, and an 8% increase in public expenses, to reach 307 million dirhams, compared to 283 million dirhams during the same period. Period from last year.
It also refers to the recording of provisions for depreciation in the value of property, machinery, equipment and intangible assets at a value of 2004 million dirhams, as a result of the decline in oil and gas prices that the group witnessed in early 2020 This resulted in a pre-tax fee drop.
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