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Summary
Emirates Central Cooling Systems Corporation PJSC (DFM: EMPOWER) (ISIN: AEE01134E227), the world's largest district cooling services provider, announced its financial results for the fiscal year 2022, with a total revenue of 2.8 billion dirhams, and with a remarkable growth of 13.3% compared to 2021. The company has recorded a net profit of 1.001 billion dirhams, representing an increase of 7% compared to the previous year. The company has also proposed a dividend amount of AED 425 million for the second half of the year 2022, as stated in the Prospectus. This outstanding performance reflects the great and continuous confidence in Empower by its satisfied customers and stakeholders, and the economic boom of Dubai.
On this occasion, Ahmad bin Shafar, CEO of Empower, said: "The year 2022 marks an important milestone in the history of Empower and a significant event in its journey towards growth and prosperity, especially following its listing on the Dubai Financial Market. The successes achieved during 2022 are unprecedented, as the company’s portfolio is growing at an accelerated pace serving a diversified portfolio of projects. He further stated that Empower is committed to distributing a total dividend of AED 850 million per annum for the first two years, subject to the Board of Directors and General Assembly approval.
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