Tabreed reports 2022 net profit of Dhs600.2 million – Gulf Today

Tabreed reports 2022 net profit of Dhs600.2 million – Gulf Today

Picture used for illustrative purpose.

Tabreed, the UAE’s longest-established district cooling company, released its consolidated financial results for the year 2022, reporting an Ebitda of Dhs1.23 billion – a 19 per cent increase over 2021 and a net profit of Dhs600.2 million, representing an increase of 3 per cent.

Additionally, Tabreed’s Board of Directors announces it is recommending a dividend of 13.5 fils per share, to be paid fully in cash – an increase over last year, acknowledging growth of the business while retaining availability of capital for further expansion.

It was an exceptional year for Tabreed, as the company spent 2022 building on its already robust network of assets, spearheading expansion into existing and all-new markets, while investing heavily in its existing UAE infrastructure. In January, Tabreed practically doubled its concession capacity in Oman with the acquisition of a seventh district cooling plant, which services Al