Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Abu Dhabi Future Energy Company (Masdar) reported a major expansion in its financial position for the year ended December 31, 2024, with total assets rising to Dh59.79 billion, a 228% increase from Dh18.25 billion in 2023.
According to the company’s audited consolidated financial statements posted on its website, the company delivered a strong return to profitability, posting a net profit of Dh412 million, compared to a loss of Dh45 million in the previous year.
Revenue for 2024 totalled Dh3.42 billion, representing a slight decline of 3.8% from Dh3.56 billion in 2023.
Total liabilities climbed to Dh30.78 billion, a 265% increase from Dh8.44 billion at the end of 2023, in line with the company’s expansion efforts. Meanwhile, total equity attributable to the equity holders of the Group surged to Dh29.01 billion, up 196% from Dh9.81 billion a year earlier.
Masdar’s 2024 performance reflects the company’s accelerating momentum in the clean energy sector and its continued investment in sustainable infrastructure worldwide.
