- 11 May 2017
TAQA announces Q1 2017 Financial Results
11 May 2017ABU DHABI, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA), a leading global energy company headquartered in Abu Dhabi with operations in 11 countries, today announced its financial results and operational highlights for the period ended 31 March 2017.Commenting on the results, Saeed Al Dhaheri, acting Chief Operating Officer, said: “After the completion of our two-year transformation programme, I am pleased to announce a return to profit for the first quarter. The transformative cost reduction initiatives are now sustainably embedded across the organisation and with the balance sheet stabilised, we are now well positioned to secure future growth as market conditions stabilise and improve. Moving forward, we plan to maintain discipline in cost and operational efficiency while focusing investment to our most profitable assets to maximise cash flow.” Financial highlights:Operational Highlights: Power & WaterOperational Highlights: Oil & Gas.