Empower’s net profit up 3.4% – GulfToday

Empower’s net profit up 3.4% – GulfToday

Empower posts increase in customer base as well as in the number of buildings connected to the company's district cooling services.



Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, reported a net profit of Dhs901 million with a total revenue of Dhs2.26 billion in 2020. Empower's revenues grew by 3.0 per cent with a net profit increase of 3.4 per cent year-over-year (YoY), a commendable performance given the difficult economic conditions resulting from the global pandemic.

Commenting on Empower's financial results at the annual press conference, Ahmad Bin Shafar, CEO of Empower, said: “2020 has been another successful year for Empower, with growth in its financial as well as operational performance, which is clearly evident from increase in revenues and net profit, additions in the number of district cooling plants, expansion of district cooling pipeline network, increase in customer base and