Empower’s profits to shareholders hit AED 1bn in 2022

Empower’s profits to shareholders hit AED 1bn in 2022

Dubai - Mubasher: The net profits attributable to the owners of Emirates Central Cooling Systems Corporation (Empower) totalled AED 1 billion in 2022, an annual leap from AED 935.86 million.

Empower, formerly known as Emirates Central Cooling Systems Corporation, generated revenues of AED 2.79 billion last year, higher than AED 2.46 billion in the January-December 2021 period.

The basic and diluted earnings per share (EPS) attributable to the equityholders went up to AED 0.10 in 2022 from AED 0.09 in 2021, according to the consolidated financial results.

Meanwhile, the total assets jumped to AED 9.65 billion as of 31 December 2022 from AED 9.54 billion a year earlier.

In the first nine months (9M) of 2022, the DFM-listed company achieved net profits attributable to the shareholders worth AED 731.96 million, compared to AED 660.10 million in the year-ago period.

Revenues enlarged to AED 2.07 billion in 9M-22 from AED 1.80 billion in 9M-21, whereas the basic and diluted EPS attributable to the owners surged to AED 0.73 from AED 0.66.