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

Last updated: July 28, 2023 | 10:47

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International expansion continues into second half of the year as Tabreed begins commercial operations in India.

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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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UAE's Tabreed lands its first major district cooling deal in India, with Tata Realty UAE district cooler Tabreed's 2022 net profit at Dh600.2m, helped by capacity gains, deals Saudi wealth fund to buy stake in UAE Tabreed’s local venture At district cooling firm Tabreed, all those new connections swell Q1-2023 net profit to Dh236m

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.

Khaled Abdulla Al Qubaisi Tabreed’s Chairman

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.

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