TradeArabia
Summary
UAE-based National Central Cooling Company (Tabreed) has reported a net profit of Dh427.6 million ($116.4 million) for the full year 2018, up 7 per cent over Dh400.1 million ($108.9 million) the previous year, adding 39,061 Refrigeration Tonnes (RTs) of new connections across the GCC during the year thus resulting in the delivery of over 1.1 million RTs of cooling capacity.
Announcing the financial results for 2018. Tabreed said the group revenue increased by 3 per cent to Dh1.45 billion, compared to Dh1.39 billion last year, while core chilled water revenue increased by 3 per cent to Dh1.36 billion, compared to Dh1.31 billion in 2017.
Ebitda increased by 10 per cent to Dh694.2 million, compared to Dh628.4 million last year. Share of results of associates and joint ventures decreased by 30 per cent to Dh90.3 million, while it was Dh128.8 million in 2017, due to the impact of new accounting standards.
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