DEWA announces record quarterly revenue of AED 5.96 billion and quarterly Cash from Operations of AED 3.85 billion

Dubai, United Arab Emirates - Monday, 12. May 2025

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, listed on the Dubai Financial Market (DFM), reported its first quarter 2025 consolidated financial results, recording quarterly revenue of AED 5.96 billion, EBITDA of AED 2.43 billion, operating profit of AED 838 million and net profit of AED 496 million. The company also generated a record net cash from operations of AED 3.85 billion resulting in closing cash and cash equivalents of AED 8.17 billion, which is AED 2.07 billion higher than the balance as at year-end 2024.

“We are progressing in our journey to Net Zero by 2050 and will continue to play a decisive role in Dubai’s rapid progress. With consistent growth in demand for electricity, water and cooling services, our revenue grew by 2.83% to AED 5.96 billion in the quarter and more notably our net cash flow from operations grew to AED 3.85 billion, which is 17.86% higher than the amount in the same period of the previous year. Our financials reflect a healthy operating profit of AED 838 million in the quarter, and an EBITDA of AED 2.43 billion. We invested AED 2.26 billion in infrastructure during the quarter, mainly related to our energy transition strategy,” said HE Saeed Mohammed Al Tayer, Vice Chairman and MD & CEO of DEWA.

In Q1 2025, DEWA generated 10.50 TWh, a 2.83% increase over the same period in 2024. During this quarter clean power generated was 1.86 TWh, contributing 17.7% to the overall power generation. Simultaneously, desalinated water production in Q1 reached 35.61 BIG, a 4.56% increase. DEWA increased its customer base by an impressive 11,614 customer accounts during the quarter. In the last twelve months, ending with the first quarter of 2025, the total number of customer accounts increased by 57,339, representing yearly growth of 3.7%

By the first quarter of 2025, the Company’s system installed generation capacity was 17,579 MW with 3,460 MW of this capacity coming from clean energy sources which represents 20% from the energy mix.  By 2030 we expect total installed generation capacity to reach 22 GW, out of which 7.5 GW, representing 34% of generation mix, will be sourced from clean energy sources.

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Contacts

DEWA

Shaikha Almheiri, +971552288228

shaikha.almheiri@dewa.gov.ae

Rochon Genova: Did You Purchase Shares of Aphria Inc. (“Aphria”) After January 29, 2018 and Hold Them Until March 23, 2018 and/or December 3, 2018?

 TORONTO - 

(BUSINESS WIRE) -- A Settlement has been reached in the global class action against Aphria and certain of its former officers and directors regarding alleged misrepresentations made in certain of Aphria’s public disclosures released between January 29, 2018 and December 3, 2018 (the “Class Action”). Aphria and the other Defendants have denied all allegations against them.

The Settlement provides for the payment by the Defendants of the total amount of CAD $30,000,000 to resolve the Class Action. The Settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by the Defendants.

The Settlement has been approved by the Ontario Superior Court of Justice. The Court has appointed RicePoint Administration, Inc., d/b/a Verita Global as the Administrator of the Settlement. To be eligible for compensation, Class Members must submit a completed Claim Form to the Administrator no later than August 26, 2025. If you do not file a claim by this deadline, you will be ineligible for compensation.

Some Class Members—investors who bought Aphria shares in transactions in the United States prior to December 3, 2018—also have rights in a certified parallel U.S. securities class action.

All Class Members should consult the Long-Form Notice available online at www.AphriaSettlement.com or call toll-free: 1-888-700-9930 for more information about your rights, and how to exercise them.

 

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Media Contact (press only): Jon Sloan, jsloan@rochongenova.com, 866-881-2292

 

LTIMindtree Secures $450 Million Multi-Year Deal with Global Agribusiness Leader

 WARREN, N.J. & MUMBAI, India 

(BUSINESS WIRE) -- LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today announced a strategic agreement with a leader in the global agribusiness sector. This is the largest deal in the history of LTIMindtree, valued at $450 million across seven years.

As a part of this deal, LTIMindtree will implement an AI-powered operating model to deliver application management, infrastructure support, and cybersecurity services. This comprehensive suite of future-ready IT services, built on platforms such as SAP S/4HANA, ServiceNow, Microsoft Azure, as well as proprietary AI frameworks, are aimed at enhancing the client’s operational efficiency, scalability, and global growth.

"Securing this large deal marks a pivotal milestone as we transform to an AI-driven business model, helping our clients enhance productivity," said Venu Lambu, Chief Executive Officer (Designate) and Whole-Time Director, LTIMindtree. "We are proud to be the trusted partner for one of the world’s most respected agribusiness companies.

"Winning this important deal underscores our strength in crafting innovative solutions and delivering with excellence," said Nachiket Deshpande, President - Global AI Services, Strategic Deals, LTIMindtree.

Samir Gosavi, Chief Business Officer – Retail and CPG, LTIMindtree, added, “This win marks a major breakthrough for our consumer services business. Our AI-driven operating model will drive measurable business impact in an industry that's evolving rapidly."

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 84,000+ talented professionals across more than 40 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit www.ltimindtree.com.

 

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Media Contact:

Michelle Kumar | Global Media Relations | Michelle.Nalinikumar@ltimindtree.com

S&P upgrades Hikma Pharmaceuticals PLC and its Senior Notes to ‘BBB’ on continued good business momentum; outlook stable

 S&P has announced on 8 May that it has raised its long-term issuer credit rating on Hikma Pharmaceuticals PLC (Hikma, Company) and its $500 million notes outstanding due July 9, 2025, issued out of Hikma Finance USA LLC, to ‘BBB’ from ‘BBB-‘ with a stable outlook. S&P said its rating action reflects Hikma’s good business momentum and ability to maintain healthy growth prospects and stable credit metrics.

Khalid Nabilsi, CFO of Hikma said: “I am pleased that S&P have upgraded Hikma, strengthening our investment grade rating and confirming our solid market position as well as our track record of profitability and cash generation.”

About Hikma

Hikma helps put better health within reach every day for millions of people around the world. For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, MENA and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com

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Contacts

 

Mona Abdallah

Senior Director, MENA Communications & Corporate Affairs

MBAbdallah@Hikma.com

+962 6 5802900

Les Émirats Arabes Unis organisent un sommet marquant, augurant une nouvelle ère en matière de gouvernance pour les technologies émergentes

 ABOU DHABI, Émirats Arabes Unis - lundi, 12. mai 2025

(GLOBE NEWSWIRE) --  Le Sommet sur la Gouvernance des Technologies Émergentes (GETS 2025) s’est clôturé cette semaine à Abou Dhabi par un appel à mobiliser la collaboration mondiale sur la gouvernance des technologies émergentes qui façonnent nos sociétés. Organisé par le Conseil de Recherche sur les Technologies Avancées (ATRC), en collaboration avec le Ministère Public des Émirats Arabes Unis comme partenaire stratégique, le sommet a rassemblé un large éventail de décideurs politiques mondiaux et des géants de la technologie, ainsi que des experts juridiques, des universitaires et de jeunes leaders de plus de 20 pays.

Le sommet de deux jours, placé sous le patronage de Son Altesse Cheikh Mansour bin Zayed Al Nahyan, a servi de plateforme pour favoriser les échanges significatifs dans les domaines du droit, de l'innovation et des politiques publiques. Les discussions, modérées par plus de 70 intervenants, ont souligné le besoin pressant et croissant d'aligner les technologies émergentes avec des normes éthiques et des structures de gouvernance prêtes pour l'avenir, inclusives et cohérentes à l'échelle internationale.

Le partenariat stratégique avec le Ministère Public des Émirats Arabes Unis (EAU) a été au cœur de la vision du sommet et de sa mise en œuvre. En tant qu'institution engagée à promouvoir l’état de droit, le parquet des EAU a contribué à fonder les discussions sur l'intégrité juridique et la responsabilité, tout en appelant à cultiver l'innovation au sein du système judiciaire.

S.E. Faisal Al Bannai a déclaré : « GETS 2025 reflète la vision ambitieuse des Émirats Arabes Unis non seulement d'être leader mondial en matière des technologies de pointe, mais aussi de façonner la gouvernance mondiale de ces technologies. Nous sommes fiers d'avoir pu réunir une telle panoplie de points de vue et d'avoir pu susciter des conversations intéressantes qui façonneront les politiques et les systèmes dont dépend notre avenir. »

Le partenariat stratégique du ministère public des Émirats Arabes Unis (EAU) a permis d'ancrer le débat sur l'État de droit, la transparence et la responsabilité institutionnelle. Le sommet a démarré avec un message clair : l'innovation ne peut pas exister sans la gouvernance. Compte tenu de la croissance rapide de l'intelligence artificielle, l'informatique quantique et les applications Web3 à l'échelle mondiale, GETS 2025 a souligné la responsabilité commune des gouvernements et des leaders de l'industrie dans l’élaboration des principes, des politiques et des infrastructures qui permettent de protéger les droits tout en favorisant le progrès. Les thèmes abordés à l'ordre du jour du sommet comprenaient la réglementation de l'IA, les flux de données transfrontaliers, les "deepfakes" et autres médias synthétiques, les systèmes d'identité numérique, la sécurité quantique, les soins de santé, la réforme de l'éducation et l'utilisation de systèmes d’armes autonomes dans la défense civile.

Le sommet a été marqué par une étape majeure, avec le lancement par le parquet des Émirats Arabes Unis de sa Stratégie pour l'Intelligence Artificielle (IA) 2025-2030, qui met en lumière une approche proactive et axée sur les valeurs pour prôner l’intégration de l'IA dans les systèmes judiciaires du pays. Cette stratégie vise à améliorer l'accès à la justice, à réduire les délais de traitement des affaires judiciaires et à façonner un système juridique capable d'anticiper les enjeux juridiques plutôt que de simplement y remédier.

S.E. le Chancelier Dr Hamad Saif Al Shamsi, Procureur Général des Émirats Arabes Unis, a déclaré : « Cette stratégie que nous avons lancée constitue une déclaration d'intention. Nous sommes prêts à mettre l'IA au service de la justice, en privilégiant la transparence, l'efficacité et l'éthique. La transformationne consiste pas à adopter des technologies pour elles-mêmes, mais de créer un système juridique capable d'anticiper les enjeux, de protéger les droits et d’octroyer une justice équitable pour tous. D’ailleurs, ce sommet a également prouvé que le dialogue international n'est pas facultatif mais impératif. Les Émirats Arabes Unis se réjouissent d'accueillir cette plateforme mondiale et de collaborer avec des partenaires du monde entier pour élaborer des cadres communs et nécessaires pour assurer une gouvernance technologique responsable et éthique. »

Le sommet a également vu la signature de deux accords de coopération bilatérale entre TRENDS Research and Advisory et ExHub Holding, et entre le Ministère Public des Émirats Arabes Unis (EAU) et l’université MBZUAI.

Parmi les autres intervenants figuraient S.E. Omar Sultan Al Olama, ministre d'État des EAU chargé de l'Intelligence Artificielle, de l'Économie Numérique et des Applications de Télétravail ; S.E. Sarah bint Yousef Al Amiri, ministre de l'Éducation des EAU ; Changpeng Zhao, fondateur de Binance, et Najwa Aaraj, PDG du Technology Innovation Institute (TII) ; ainsi que S.E. Maryam Al Hammadi, secrétaire générale du Conseil des Ministres des EAU, et le juge Dr. Mohammed Al Kaabi, Directeur de l'Institut de Formation Judiciaire (Judicial Training Institute). Des conseils de la Jeunesse de Doubaï, Fujairah, Umm Al Quwain et Al Dhafra ont contribué au dialogue, offrant de nouvelles perspectives sur l'avenir de la littératie en matière de l’IA et l'élaboration de politiques intergénérationnelles.

GETS 2025 a été soutenu par des partenaires, notamment le Technology Innovation Institute (TII), ASPIRE, TRENDS Research and Advisory, la UAE Space Agency, le Conseil de Cybersécurité (Cybersecurity Council), la Mohamed bin Zayed University of Artificial Intelligence et une panoplie d’institutions de premier plan telles que Microsoft, Cisco, Honeywell, BP, Byteplus, PwC, OCDE, INTERPOL et l'ONUDC.

 

Contacts :

Marianne.moller@manaraglobal.com

UAE Hosts Landmark Summit to Chart a New Era in Emerging Tech Governance

 More than 2,000 participants from over 20 countries gathered in Abu Dhabi for two days of high-level discussions

ABU DHABI, United Arab Emirates - Monday, 12. May 2025

 

(GLOBE NEWSWIRE) -- The Governance of Emerging Technologies Summit (GETS 2025) concluded this week in Abu Dhabi with a powerful call for collective global action to govern the technologies shaping our societies. Hosted by the Advanced Technology Research Council (ATRC) in strategic partnership with the UAE Public Prosecution, the summit convened a diverse community of policymakers, technologists, legal experts, academics, and youth leaders from more than 20 countries.

Held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the United Arab Emirates and Chairman of the Presidential Court, the summit welcomed over 70 speakers contributing, discussions tackled the growing need to align emerging technologies with ethical standards and governance structures that are future-ready, inclusive, and internationally coherent.

The strategic partnership of the UAE Public Prosecution was central to the summit’s vision and execution. As an institution committed to advancing the rule of law, its role helped anchor the summit’s discussions in legal integrity and accountability, while championing innovation within the justice system.

HE Faisal Abdulaziz Al Bannai, Advisor to the UAE President for Strategic Research and Advanced Technology Affairs and Secretary General of ATRC, said: “GETS 2025 reflects the UAE’s ambition to not only lead in advanced technologies, but to shape how it is governed. We are proud to have convened such a wide range of perspectives and to have sparked conversations that will shape the policies and systems our future depends on.”

The UAE Public Prosecution’s strategic partnership in the summit was instrumental in grounding the conversation in the rule of law, transparency, and institutional accountability. Their leadership underscored the role of justice systems in keeping pace with technological change while safeguarding public trust.

The summit opened with a clear message: innovation cannot exist in isolation from governance. As artificial intelligence, quantum computing, and Web3 applications accelerate globally, GETS 2025 underscored the responsibility of both governments and industry leaders to develop principles, policies, and infrastructure that protect rights while enabling progress.

A major milestone of the summit was the UAE Public Prosecution’s launch of its Artificial Intelligence Strategy 2025–2030. The strategy outlines a proactive and values-led approach to integrating AI into the country’s judicial ecosystem. It aims to enhance access to justice, reduce case resolution time, and build a legal system that can anticipate rather than simply respond to challenges.

HE Chancellor Dr Hamad Saif Al Shamsi, Attorney General of the UAE, said: “The strategy we launched is a statement of intent. We are ready to harness AI in service of justice, built on transparency, efficiency, and ethics. It is about creating a legal system that can anticipate challenges, protect rights, and deliver justice more effectively for all. At the same time, this summit has proven that international dialogue is not optional but essential. The UAE is proud to host this global platform and to work with partners around the world to build shared frameworks for responsible and ethical technology governance.”

The summit also witnessed the signing of two cooperation agreements: one between TRENDS Research and Advisory and ExHub, and another between the UAE Public Prosecution and MBZUAI.

Other key speakers included H.E. Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, H.E. Sarah bint Yousef Al Amiri, UAE Minister of Education, Changpeng Zhao, Founder of Binance; Dr. Najwa Aaraj, CEO of the Technology Innovation Institute, as well as HE Maryam bint Ahmed Al Hammadi, UAE Minister of State and Secretary General of the UAE Cabinet, and HE Judge Dr Mohammed Obaid Al Kaabi, Head of Sharjah Judicial Department. Youth councils from Dubai, Fujairah, Umm Al Quwain, and Al Dhafra contributed to the dialogue, offering perspectives on the future of AI literacy and intergenerational policymaking.

GETS 2025 was supported by partners, including the TII, ASPIRE, TRENDS Research and Advisory, the UAE Space Agency, the Cybersecurity Council, MBZUAI, and leading institutions such as Microsoft, Cisco, Honeywell, BP, Byteplus, PwC, OECD, INTERPOL, and UNODC.

 

Contacts :

Marianne.moller@manaraglobal.com

Kinaxis Supercharges BayWa r.e. Solar Trade’s Supply Chain with AI-Powered Orchestration

 (BUSINESS WIRE) -- Kinaxis® (TSX:KXS), a global leader in end-to-end supply chain orchestration, announced that BayWa r.e. Solar Trade, one of the world’s largest distributors of photovoltaic components, has implemented its AI-powered orchestration platform Maestro™ to enhance decision-making, improve resilience and scale operations. As global supply chains face increasing disruptions, BayWa r.e. Solar Trade needed a more agile, data-driven solution to maintain efficiency, meet growing demand and adapt to increasing complexities all while ensuring long-term scalability.

BayWa r.e. Solar Trade was looking for a supply chain planning solution that could keep pace with its rapid expansion and growing operational complexity. Traditional Enterprise Resource Planning (ERP) systems couldn’t provide the agility required, leading to visibility gaps and slower decision-making. To scale efficiently and stay ahead of disruptions, the company turned to Maestro to accelerate planning, reduce complexity, and improve responsiveness. With Maestro, BayWa r.e. Solar Trade can make faster decisions, mitigate risks, and ensure its supply chain masters volatilities in a fast-changing market environment.

“BayWa r.e. Solar Trade is embracing Maestro’s advanced planning functionality and supply chain orchestration to enhance agility, close visibility gaps, and drive smarter, faster decision-making for its operations," said Dominik Dohr, Global Head of Supply Chain and Operations at BayWa r.e. Solar Trade. "Maestro gives us real-time insights, automation, and flexibility, allowing us to adapt quickly to market changes and respond to supply chain events efficiently. With Kinaxis, we can strengthen our operations today while ensuring we have the right foundation for a sustainable future."

"BayWa r.e. Solar Trade is reinforcing its commitment to innovation by leveraging AI-powered supply chain orchestration to enhance agility, drive smarter decisions, and create long-term value for its business," said Fabienne Cetre, executive vice president of EMEA sales at Kinaxis. "With Maestro, they gain the intelligence to anticipate disruptions and adapt to market dynamics efficiently. We’re excited to support BayWa r.e. Solar Trade in setting a new benchmark for supply chain orchestration."

For more information about Kinaxis and its cutting-edge supply chain orchestration solutions, please visit kinaxis.com.

About Kinaxis

Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them, in service of humanity. Our powerful, AI-infused supply chain orchestration platform, Maestro™, combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain — from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today’s volatility and disruption. For more news and information, please visit kinaxis.com or follow us on LinkedIn.

Source: Kinaxis Inc.

 

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Contacts

Media Relations

Matt Tatham | Kinaxis

mtatham@kinaxis.com

+1 917.446.7227

Investor Relations

Rick Wadsworth | Kinaxis

rwadsworth@kinaxis.com

+1 613-907-7613