Empower Reports 4% YoY Increase In Net Profits To $255mn – MEP MiddleEast
- Date: 16-Feb-2022
- Source: MEP Middle East
- Sector:Financial Markets
- Country:UAE
Empower Reports 4% YoY Increase In Net Profits To $255mn – MEP MiddleEast
Emirates Central Cooling Systems Corporation (Empower), said to be the world’s largest district cooling services provider, has announced its total revenue for 2021 to be $670mn (AED 2.464bn), with a year-on-year growth of 9.3%.
It reported a net profit of $255mn (AED 936mn), resulting in a YoY increase of 4%, as per official statements. Empower provides district cooling services to more than 64% of the residential buildings and 15% of the commercial and office buildings in Dubai.
In 2021, the firm’s share in the hospitality sector rose to 14%, with YoY increase of 1%, and the health sector accounted for 3%, while the remaining 4% was distributed among education, entertainment, retail, and other sectors.
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