- Net Income: Taqa reported a net income of 2.33 billion dirhams for Q2 2024, marking an 18% increase year-over-year (YoY) compared to 1.98 billion dirhams in Q2 2023.
- Revenue: The company’s revenue for Q2 2024 was 13.50 billion dirhams, down by 1.2% YoY from 13.82 billion dirhams (based on 2 estimates).
- Gross Profit: Taqa achieved a gross profit of 3.42 billion dirhams, an increase of 2.3% YoY.
- Earnings Per Share (EPS): The EPS for Q2 2024 remained constant at 0.020 dirhams, compared to the same period last year.
- Adjusted EBITDA: The adjusted EBITDA for Q2 2024 was 5.38 billion dirhams, showing a YoY growth of 2.4%.
- Dividends: Taqa will pay a dividend of 0.7 fils per share for Q2 2024.
- 1H Revenue Increase: The increase in half-year (1H) revenue is attributed to contributions from SWS Holding.
- Capital Expenditure: The rise in 1H capital expenditure is due to the progress in construction activities at the Mirfa 2 Reverse Osmosis and Shuweihat 4 Reverse Osmosis desalination projects.
- Analyst Ratings: Taqa has received 1 buy, 1 hold, and 1 sell rating from analysts.
A look at Abu Dhabi National Energy Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 2.6 |
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 firm with diverse operations, has received a mixed outlook according to Smartkarma Smart Scores. While the company’s growth potential has been rated as high with a score of 5, other key factors such as value, dividend, resilience, and momentum have scored moderately at 2. This indicates that the company is expected to experience strong growth in the long term, but may have some challenges in terms of value, dividend payouts, resilience to market fluctuations, and momentum in stock performance.
Overall, Abu Dhabi National Energy Company’s future outlook appears promising in terms of growth potential, aligning with its wide array of operations in power generation, water desalination, oil/gas exploration, pipelines, gas storage, and LNG regas. Investors may need to carefully consider the various factors contributing to the company’s Smart Scores to make informed decisions regarding their investment in Abu Dhabi National Energy for the long term.
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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