Dubai - Mubasher: National Central Cooling Company (Tabreed)recorded higher net profits after tax at AED 291.06 million in the first half (H1) of 2025, compared to AED 283.83 million in H1-24.
Revenue grew by 3% to AED 1.10 billion in H1-25 from AED 1.07 billion in H1-24, according to the financial results.
Basic and diluted earnings per share (EPS)attributable to the shareholders stood at AED 0.097 in the first six months (6M) of 2025, up year-on-year (YoY) from AED 0.095.
Financials for Q2
In the second quarter (Q2) of 2025, the net profits of Tabreed reached AED 169.55 million, an annual increase from AED 164.52 million.
The revenues surged to AED 642.68 million in Q2-25 from AED 611.44 million in April-June 2024, while the basic and diluted EPS went up to AED 0.056 from AED 0.055.
Bakheet Al Katheeri, Tabreed’s Chairman, said: “Tabreed continues to demonstrate the strength and scalability of its platform, delivering solid financial results while advancing its long-term growth agenda.”
“The record capacity additions in H1 2025, following landmark transactions, including the Palm Jebel Ali development and strategic acquisition of PAL Cooling, reinforce our position as a cross-regional operator and infrastructure partner with a clear mandate for value creation,” Al Katheeri highlighted.
Moreover, Tabreed made significant progress on its refinancing during the six-month period, strengthening its balance sheet and enhancing financial flexibility.
In Q1, the company issued a $700 million green Sukuk under its Green Finance Framework, successfully refinancing near-term maturities at a competitive profit rate and improving its liquidity profile.
Dividends Proposal
The board proposed an interim dividend of 6.50 fils per share for H1-25, or a 67% payout based on the recorded net profits. This marks the first interim dividend in the company’s history.
It is subject to shareholders' approval at the general assembly meeting expected to be convened in September 2025.
