Today's Edition
DUBAI (ALETIHAD)
Emirates Central Cooling Systems Corporation (Empower) announced its financial results for the first half of 2025. The company reported a net profit after tax of Dh403 million, marking a 3.4 per cent increase compared to the same period in 2024.
Empower reported a total revenue of Dh1,453 million, marking a 7.5 per cent increase compared to the same period in 2024.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) 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.
Ahmad bin Shafar, CEO of Empower, said, “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. Our sustained success is driven by the forward-looking strategy, operational excellence, and the ability to extract long-term value from the continued momentum in the real estate sector."
He added: "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.”
Bin Shafar noted Empower’s continued growth and development on all fronts, including the expansion of its infrastructure and project portfolio, and its consistent integration of innovation and digital transformation across operations.
He reaffirmed the company’s prominent presence in global district cooling forums, reflecting Empower’s international leadership and commitment to sharing expertise in sustainable cooling. He further emphasised Empower’s long-term commitment to creating added and sustainable value for all stakeholders, and to strengthening its position as a global benchmark in environmentally friendly district cooling.
Sustained Financial Performance
Empower reported consolidated revenues of Dh3.36 billion for the twelve months 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%. EBITDA for the same period reached Dh1.58 billion, compared to Dh1.50 billion previously, reflecting a growth of 5.1%.
Empower’s Annual General Meeting, which was held in March with a quorum of 89.9%, 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% of the company’s paid-up capital, which was paid in April, 2025
Business Growth in H1 2025
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 tons (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.
Customers and Stakeholders
As part of its commitment to enhancing customer experience and addressing their service needs, Empower launched its Mobile Application in April 2025. The feature-packed mobile app, which is available to download on the Apple Store and Google Play Store, is a hassle-free solution for managing its customers’ District Cooling Services accounts right at their fingertips.
