Empower posts Dhs494m revenues in Q1 – GulfToday – Gulf Today

Empower posts Dhs494m revenues in Q1 – GulfToday – Gulf Today

The company’s exceptional growth during the first quarter of 2023.

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, which is listed on the Dubai Financial Market (DFM), has reported its first quarter 2023 consolidated financial results, recording quarterly revenue of Dhs494 million and EBITDA of Dhs284 million.

For the last twelve months, Empower’s consolidated revenue was Dhs2.82 billion (Apr22 to Mar23) compared to Dhs2.53 billion (Apr21 to Mar22), showing an impressive growth of 11.5 per cent. The EBITDA for the similar periods was Dhs1.40 billion (Apr22 to Mar23) compared to Dhs1.26 billion (Apr21 to Mar22), with a growth of 11.1 per cent. The company’s first quarter 2023 revenue and EBITDA grew by 6.0 per cent and 8.2 per cent respectively. For the same period, Empower’s pro forma Net Profit grew by 5.7 per cent to Dhs191.6 million. This pro forma Net Profit