Emirates Central Cooling Systems Corporation PJSC (EMPOWER), the world's largest district cooling services provider, announced robust financial results for the first half of 2024, with total revenues reaching AED 1,352 million and EBITDA at AED 693 million.
This represents a growth of 10.3% and 6.0%, respectively, compared to the same period last year. The company reported a net profit of AED 390 million, a 6.3% increase year-on-year.
Empower attributes its strong financial performance to the rising demand for environmentally friendly cooling systems, driven by real estate developers and building owners seeking to optimize energy use and reduce costs. The company's customer base spans residential, commercial, healthcare, hospitality, retail, education, and other sectors.
In the first half of 2024, Empower signed 56 new contracts, increasing its total connected capacity to over 1.53 million refrigeration tons (RT). Notable projects include supplying the Al Habtoor Tower with 7,200 RT and expanding services in areas like Jumeirah Village and Sheikh Zayed Road.
Empower also participated in international conferences, signed key agreements, and received multiple awards, including the LEED Gold Certification for its Business Bay 5 plant. The company's efforts to promote energy efficiency and sustainability continue to garner recognition, underscoring its commitment to enhancing Dubai's infrastructure and environmental conservation.
News Source: Dubai Media Office
