UAE-based Masdar swings to profit in 2024, triples assets

Abu Dhabi state-owned renewables company Masdar reported a 2024 profit of 412 million dirhams ($112.18 million) on Thursday, reversing a 44-million-dirham net loss recorded the previous year.

The company's total assets more than tripled in the year ending December 31, reaching 59.8 billion dirhams, up from 18.2 billion dirhams in 2023.