TAQA reported a decline in first-quarter revenue, driven by weaker oil and gas sales amid ongoing regional tensions.
The company’s revenue slipped 3 percent year-on-year to AED13.7B (USD3.7B) during the January to March period, compared with AED14.1B recorded in the same quarter last year, according to a filing on the Abu Dhabi Securities Exchange.
Net profit attributable to shareholders remained unchanged at AED2B.
Capital expenditure climbed 46 percent year-on-year to AED3.2B in the opening quarter of 2026, supported by increased investments in power generation, water infrastructure and transmission assets.
“We maintained stable operations despite the external environment,” said Jasim Husain Thabet.
He noted that the company continues to advance its planned acquisition of GS Inima, alongside project development efforts in Morocco and Saudi Arabia, while also expanding Masdar’s growth strategy.
Masdar is jointly owned by TAQA with a 43 percent stake, alongside Mubadala holding 33 percent and ADNOC owning 24 percent.
The board sanctioned an interim dividend payout of AED899M for the first quarter.
During the quarter, shareholders appointed a new board, naming Jassem Al Zaabi as chairman. They also endorsed a revised dividend policy covering 2026 to 2028, retaining both fixed and variable payout elements.
TAQA shares finished trading at AED2.30 on the Abu Dhabi Securities Exchange on Thursday, with the stock declining 32 percent since the start of the year.
State-owned Abu Dhabi Power Corporation holds a 90 percent stake in TAQA.
