UAE district cooler Tarbeed’s net profit up 60.7% at Dh386.4 million in H1-2023
New projects take company’s total connected capacity to 1.3 million RT
Dubai: UAE district cooling company Tabreed reported a 60.7 per cent increase in half-yearly net profit until June at Dh386.4 million, it said in a stock market filing on Friday.
In the first-half of the year, Tabreed’s revenue increased by 9.4 per cent to Dh1.06 billion, from Dh975.7 million in H1-2022. The company also reported healthy EBITDA at Dh590.1 million compared Dh589.3 million same period last year.
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In May, Tabreed scored a major win with the successful acquisition of cooling infrastructure serving Intellion Park in Gurugram, India with the grant of a long term concession.
The addition of new capacity across the GCC and the launch of our first cooling services in India is not only supplying our growing international customer base with efficient and reliable cooling, but also having a significant impact on preventing carbon emissions.
Earlier this month, the district cooling company started operating the cooling infrastructure, officially commencing the company’s first operations in India, securing a key partner and entry into a strategic market for Tabreed as it expands its international portfolio.