Government of Dubai Media Office
Summary
Emirates Central Cooling Systems Corporation, the world's largest district cooling services provider, announced today its consolidated financial results for the third quarter of the current fiscal year, with total revenue of AED 2.451 billion and EBITDA of AED 1.124 billion for a period of nine months ending on September 30, 2024. During the nine-month period, Empower’s revenue and EBITDA grew by 8.0% and 4.7% respectively. The company’s profit before tax also grew by 5.0% to AED 719 million during the same period.
Empower stated that the exceptional growth in its revenues and EBITDA for the nine months is driven by increased demand for its services across Dubai. The real estate market is experiencing a significant rise in demand, accompanied by a surge in new development projects and the delivery of existing projects to their owners. These factors collectively contribute to the expansion of Empower's customer base and the growth of its capacity for environmentally friendly district cooling services.
His Excellency Ahmad bin Shafar, CEO of Empower, said: "Empower has become a model and benchmark for businesses that align their actions with expectations of its stakeholders (customers, shareholders, and partners) in a consistent manner”.
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