Tabreed announces Dh233mn net profit for H1 2021

The National Central Cooling Company PJSC (DFM: Tabreed), headquartered in the UAE, has today released its consolidated financial results for the first six months of 2021, reporting a net profit of Dh233.5mn – an increase of 4% compared to its

2020 H1 performance. As Tabreed has remained focused on achieving its stated objectives, revenue has continued to grow, along with its portfolio of district cooling

networks.

Recent additions include a fourth plant in Downtown Dubai, along with additional connections to our existing concession areas. Capacity has also increased, in Bahrain and

Oman.

Group revenue increased by 22% to AED 869 million (H1 2020: AED 710 million). Core chilled water revenue increased by 22% to AED 832.1 million (H1

2020: AED 681.2 million). EBITDA increased by 25% to AED 517.6 million (H1 2020: AED 415.4 million). Profit from Operation increased by 40% to AED 326 million (H1 2020: AED

232.8 million)

Share of results of associates and joint ventures increased by 37% to AED 24.9 million (H1

2020: AED 18.2 million).

Net profit attributable to the parent increased by 4% to AED 233.5 million (H1 2020: AED

224.3 million).