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Empower reports 7.5% increase in revenue and 3.4% increase in net profit in H1
Consolidated revenues of Dh3.36 billion for the twelve-month period until 30, June 2025
- PUBLISHED: Tue 5 Aug 2025, 4:33 PM
Emirates Central Cooling Systems Corporation PJSC, the world’s largest district cooling services provider, on Tuesday announced that its revenue for the first half of 2025 reached Dh1.453 billion, marking a 7.5 per cent increase compared to the same period in 2024.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) reached Dh719 million, with a growth of 3.6 per cent and the pre-tax net profit amounted to Dh442 million marking 3.3 per cent growth compared to the first half of last year. The net profit after tax reached Dh403 million marking a 3.4 per cent increase compared to the same period in 2024.
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Empower reported consolidated revenues of Dh3.36 billion for the twelve-month period from July 2024 to June 2025, compared to Dh3.16 billion in the period from July 2023 to June 2024; an increase of 6.3 per cent. Ebitda for the same period reached Dh1.58 billion, compared to Dh1.50 billion previously, reflecting a growth of 5.1 per cent.
Empower’s Annual General Meeting, which was held in March with a quorum of 89.9 per cent, approved the Board of Directors’ recommendation to distribute cash dividends for the second half of 2024, amounting to Dh437.5 million in total, equivalent to 4.375 fils per share or 43.75 per cent of the company’s paid-up capital, which was paid in April, 2025
“Empower’s exceptional performance in the first half of 2025 reflects the strength of our integrated business model and the ability to efficiently adapt to changing market dynamics and customer needs. Through our ongoing efforts and commitment to innovation and latest technologies, Empower continues to support the sustainable development of Dubai, contribute to achieving global climate goals and the UAE’s Net Zero 2050 targets, while reinforcing the nation’s global leadership in climate action and green infrastructure,” said Ahmad Bin Shafar, CEO of Empower.
The first half of 2025 witnessed a significant growth in Empower’s business. The company signed 86 new contracts to supply over 99,000 refrigeration tonnes (RT) to various projects across Dubai. This boosted Empower’s total contracted capacity to 1.86 million RT, reflecting growing demand among developers and building owners for the environmentally friendly district cooling solutions. Empower signed two major agreements during the first half of 2025. The first one is with DMCC (Dubai Multi Commodities Centre), the leading international business district that drives the flow of global trade through Dubai, to supply district cooling services to the next phase of Uptown Dubai, for a capacity of 24,675 RT. The second one is for the Island project, by Wasl to supply environmentally friendly district cooling services for a total cooling capacity of 23,853 RT.
Moreover, the company’s total connected capacity exceeded 1.6 million RT following the addition of approximately 38,000 RT during the reporting period. Empower also reported a notable increase in its service footprint, with the total number of buildings it serves reaching 1,684 in the first half of 2025.
Expansion
Aligning with Empower’s strategy to strengthen the district cooling infrastructure and expand its services in strategically important areas of Dubai, the company announced a new district cooling plant in Al Sufouh 2 area during the reporting period. The foundation work has already started for the new plant, while construction is scheduled to begin in the fourth quarter of 2025. This plant will be the first in a series of three future plant rooms that Empower plans to build in the area. The new plant will have a cooling capacity of 23,400 RT (RT) to serve several buildings, including the “Innovation Hub,” one of the prominent landmarks in Al Sufouh.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.