UAE district cooling firm Tabreed 9-month 2023 net profit weighs in at Dh605m

UAE district cooling firm Tabreed 9-month 2023 net profit weighs in at Dh605m

Tabreed is keeping its flag flying high, with project wins and deals in Saudi Arabia and India.

Image Credit: Ahmed Ramzan/ Gulf News







Dubai: The UAE district cooling company Tabreed’s 9-month revenue powered up by 10 per cent to Dh1.8 billion, with new projects locally and a growing portfolio of overseas contracts helping out.



During the period, Tabreed – whose stock is up more than 20 per cent on DFM year-to-date – added 41,319 RT (refrigeration tons) to its existing capacity, including, most notably, two district cooling plants in Saudi Arabia. It also completed the buyout of a facility in India (from Tata Realty).







India, Saudi Arabia and Egypt have been primed as ideal overseas territories for Tabreed to expand into.



All this is starting to be felt on the bottom-line too, with net profit before tax attributable to parent entity at Dh605 million against Dh400 million.



“Our new projects and capacity additions throughout the period continue to demonstrate the attractiveness of district cooling in Tabreed’s key markets, with the company on track to add 120,000 RT over 2023-24," said Khaled Al Qubaisi, Tabreed’s Chairman. "Equally important is