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Empower posts Dhs2.27 billion revenue for first 9 months of ’23

By District Energy posted 11-08-2023 06:35


Gulf Today


Emirates Central Cooling Systems Corporation announced its consolidated financial results for the third quarter of the current fiscal year, with EBITDA of Dhs1.07 billion and a total revenue of Dhs2.27 billion for a period of nine months ending on September 30, 2023.

For the last twelve months, Empower’s consolidated revenue was Dhs2.99 billion (Oct-22 to Sep-23) compared to Dhs2.73 billion (Oct-21 to Sep-22), showing an impressive growth of 9.5%. The EBITDA for the period was Dhs1.45 billion (Oct-22 to Sep-23) compared to Dhs1.32 billion (Oct-21 to Sep-22), with a growth of 9.5%.

For nine months period ending on September 30, 2023, Empower’s revenue and EBITDA grew by 9.5% and 7.5% respectively. For the same period, Empower’s pro forma Net Profit grew by 6.1% to Dhs777 million. This pro forma Net Profit comparison adjusts for pre IPO leverage to show comparable quarterly performance. On an absolute basis, Empower reported a net profit of Dhs685 million for the nine-month period ending September 2023.

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