- Taqa’s net income for Q1 2024 equalled 2.12 billion dirhams, showing a significant decrease of 82% compared to the same period in the previous year.
- The company’s revenue saw a positive change, amounting to 13.68 billion dirhams, marking a 5.3% increase year over year.
- The gross profit slightly improved as well, being 3.46 billion dirhams, representing a small 1% increase year over year.
- The board of Taqa approved a dividend of 0.70 fils per share for this quarter.
- A rise in revenues became possible owing to the contribution made by SWS Holding.
- The increase in capital expenditure was mainly fueled by construction progress in two key projects: the Mirfa 2 and Shuweihat 4 Reverse Osmosis desalination projects.
- The company disclosed that it has increased investments into Masdar as part of its finance strategy for renewable energy projects, capital expenditure, and working capital movements.
- As per existing ratings, there’s 1 buy, 0 holds, and 2 sell recommendations for Taqa.
A look at Abu Dhabi National Energy Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 2.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Abu Dhabi National Energy Company, a global energy player, is positioned for long-term growth based on the Smartkarma Smart Scores. With a promising score of 4 in Growth, the company seems poised to expand its operations steadily over time. Although scores in Value, Dividend, Resilience, and Momentum stand at 2 each, indicating moderate performance, the strong focus on growth suggests an optimistic outlook for the company’s future development.
Through its diverse operations in power generation, water desalination, upstream oil/gas, pipelines, gas storage, and LNG regas, Abu Dhabi National Energy Company demonstrates a wide-reaching presence in the energy sector. This broad portfolio, coupled with the encouraging Growth score of 4, hints at potential opportunities for the company to further solidify its position in the market and drive future success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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