Abu Dhabi National Energy Co PJSC (ADX:TAQA)
د.إ 2.87 0 (0%) Market Cap: 322.69 Bil Enterprise Value: 369.38 Bil PE Ratio: 19.13 PB Ratio: 3.91 GF Score: 62/100
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Q1 2023 Abu Dhabi National Energy Company PJSC Earnings Call Transcript

May 15, 2023 / NTS GMT
Release Date Price: د.إ3.12 (+0.32%)
Asjad Yahya

Welcome, everyone, to TAQA's Q1 2023 results conference call. My name is Asjad Yahya, and I'm the Head of Investor Relations at TAQA. I am joined today by our CFO, Steve Ridlington. We posted our first quarter results earlier today, which are available on our website as well as the ADX website.

Today's call will start with prepared remarks by management followed by Q&A. With that, I ask Steve to officially kick off the call.

Stephen John Ridlington
Abu Dhabi National Energy Company PJSC - CFO

Thank you, Asjad, and good morning, good afternoon, good evening to everybody on the call today. It's good to be with you again. Let's turn to Slide 5 for a summary of the results. Thank you. So overall, the first quarter of 2023 saw solid underlying financial performance for TAQA, but with net income significantly boosted through TAQA's acquisition of 5% of ADNOC Gas.

In summary, revenues grew 6%, largely reflecting higher pass-through costs in our T&D and generation businesses. We'll return to that later. As such, this revenue improvement

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