Utilities Middle East

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


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


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).

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