Dubai – Mubasher: The net profits attributable to the equity holders of National Central Cooling Company (Tabreed) increased by 4% to AED 233.499 million during the first half (H1) of 2021 from AED 224.298 million in the same period of 2020, as per the consolidated interim financials for the six-month period ended 30 June 2021.
The company's revenues rose by 22% to AED 869.002 million in H1-21, compared to AED 710.015 million in the year-ago period.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) amounted to AED 517.6 million in H1-21, up 25% from AED 415.4 million during the corresponding period of 2020.
The basic and diluted earnings per share (EPS) settled at AED 0.084 in the first six months of 2021, versus AED 0.081 in the corresponding period of the earlier year.
Tabreed’s Chairman, Khaled Abdulla Al Qubaisi, said: "Our second quarter has proved we are on the right path for sustainable and meaningful growth, maintaining our unwavering focus on quality and customer service by means of careful expansion and commitment to operational excellence, which recently resulted in Tabreed being officially certified to three individual ISO standards on Health and Safety, Environment and Quality."
Meanwhile, Tabreed’s CEO, Khalid Abdullah Al Marzooqi, commented: "In the past six months we have increased cooling capacity in three different countries, most notably with the addition of a fourth district cooling plant in Downtown Dubai, which forms part of Tabreed’s acquisition deal with Emaar in April last year."
It is noteworthy to mention that in the first quarter (Q1) of 2021, the net profits attributable to the equity holders of Tabreed rose by 4% to AED 85.536 million, compared to AED 82.217 million in the corresponding quarter of 2020.
