Tabreed profit up on rising global presence
Tabreed on Tuesday said its nine-month net profit rose three per cent to Dh400 million as the company's total connected capacity reached 1,258,201 refrigeration tonnes.
For the first nine months of 2022, the UAE'S district cooling provider reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of Dh912 million – an 18 per cent increase over the same period last year.
The company also reported 13 per cent yearon-year growth in revenues to Dh1.66 billion as the company added new customer connections to its network. It added 48,106 refrigeration tonnes (RT) of new customer connections with load additions of 28,403RT in the UAE, 19,203RT in Oman and in Bahrain were increased by 500RT.
Khaled Abdulla Al Qubaisi, Tabreed's chairman, said:. “Throughout 2022, Tabreed has achieved important international growth, elevated public awareness, and accomplishment of long-term strategic goals.”