Dubai Electricity and Water Authority (DEWA) expects 2022 profit of 7.3 billion dirhams ($1.99 billion), Chief Executive Saeed Al Tayer told CNBC Arabia on Friday, after listing as a public company this month, Trend reports with reference to Reuters.
He added that state utility DEWA has strong cash flows and will not need to take on debt.
DEWA this month raised $6.1 billion in the region's biggest initial public offering (IPO) since Saudi Aramco.