600 million dirhams of “Tabreed” profits, with a growth of 3%.. and 13.5 fils as dividends

The National Central Cooling Company, “Tabreed”, announced its consolidated financial results for the year 2022, as it recorded profits before interest, taxes, depreciation and consumption amounting to 1.23 billion dirhams, an increase of 19% over 2021, while net profits amounted to 600.2 million dirhams, an increase of 3% compared to With 585.2 million dirhams in 2021.

The company’s board of directors announced its recommendation to distribute dividends of 13.5 fils per share, to be paid in full in cash.
Tabreed has added additional assets to its growing network of assets, with a policy of expanding into both existing and new markets, and investing heavily in its existing infrastructure in the UAE. In January, the company doubled its concession areas in Oman by acquiring the District Seven district cooling plant, which serves The Wave, the latest and most prestigious real estate project in the Sultanate.
During the past year, Tabreed added 34,454 RT of new connections in its projects in the UAE, 19,202 RT in its projects in the Sultanate of Oman, and 500 RT in Bahrain, raising the total capacity of the company to 1,264,252 RT.
Group revenues increased by 13% to reach 2.22 billion dirhams in 2022 compared to 1.95 billion dirhams in 2021, basic chilled water revenues increased by 14% to reach 2.14 billion dirhams, and EBITDA increased by 19% to reach to 1.23 billion dirhams.
In terms of operational achievements during the past year, the total connected capacity increased to 1,264,252 RT, 54,156 RT were added to new customers, and the company achieved a record of 17,039,729 working hours without time-wasting accidents.