Empower posts 3.4% rise in 2020 net profit
Revenue during the same period grew by 3 per cent
Dubai: Emirates Central Cooling Systems Corporation (Empower) posted a net profit of Dh901 million on a revenue of Dh2.26 billion in 2020.
Empower’s revenues grew by 3 per cent with a net profit increase of 3.4 per cent year-over-year (YoY).
“2020 has been another successful year for Empower, with growth in its financial as well as operational performance,” said Ahmad Bin Shafar, CEO of Empower, in a statement.
The number of buildings that Empower provides with its district cooling services exceeded 1,252 and the customer base reached more than 140,000. The total cooling capacity has reached 1,640,000 Refrigeration Tons (RT) during 2020 that covered various projects, including Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, and Dubai International Financial Centre.
“We are proud of our achievements in terms of increased number of district cooling plants that has reached 84 plants across Dubai,” said Bin Shafar.
Bin Shafar also stated that Empower had reduced its fuel surcharge rates by about 25 per cent effective December 1, 2020 in line with the initiative of Dubai’s Supreme Council of Energy.
“We will continue our endeavors in 2021 to increase the number of district cooling plants and expand our district cooling network across Dubai,” said the company head.