Abu Dhabi National Energy Company, commonly known as Taqa, reported a decline in net profit for the first nine months of 2025, reflecting lower output in its oil and gas operations, a continuation of the trend seen in its half-year results.
The energy major’s net income fell nearly 4 percent year on year to AED6.1 billion ($1.7 billion).
Revenues increased 3 percent to AED42.7 billion, mainly supported by higher pass-through income in the transmission and distribution segment, according to a statement to the Abu Dhabi Securities Exchange.
Third-quarter revenue held steady at AED14.4 billion compared with the same period last year, while net profit rose 26 percent year on year to AED2.4 billion.
Oil and gas production declined to 92 million barrels of oil equivalent per day (mboe/d) in the first nine months of 2025, down from 102 mboe/d a year earlier, primarily due to the shutdown of four UK assets in late 2024.
Capital expenditure climbed 47 percent to AED9 billion, driven by upgrades to the transmission and distribution network, progress on the 1-gigawatt Al Dhafra Thermal project, work on special projects, and developments in the company’s Water Solutions unit.
Taqa reported total available liquidity of AED26.5 billion.
The company has secured an AED8.5 billion corporate term loan facility to fund future capital investments, the statement added.
During the nine-month period, debt repayments totalled AED5 billion, including AED2.8 billion for maturing corporate bonds and AED2.3 billion for scheduled project financing.
The board approved a third-quarter interim dividend of 0.75 fils per share.
State-owned Abu Dhabi Power Corporation holds a 90 percent stake in Taqa.
Shares of the company closed at AED3.37 on the Abu Dhabi Securities Exchange on Wednesday, marking a 2 percent rise year to date.
