Emirates Central Cooling Systems Corporation PJSC (Empower) reported a 16.2 percent rise in first-half net profit after tax on Thursday, helped by higher demand for district cooling services as Dubai’s real estate sector continued to expand.
Net profit after tax rose to AED468 million ($127.4 million) in the six months ended June 30 from a year earlier, while revenue increased 4.5 percent to AED1.519 billion ($413.6 million), the company said.
EBITDA grew 7.5 percent year on year to AED773 million ($210.5 million), while profit before tax increased 16.2 percent to AED514 million ($140.0 million).
Chief Executive Ahmad bin Shafar said the results reflected the resilience of the company’s business model and the accelerated growth of Dubai’s economy and real estate sector, adding that Empower continued to expand its district cooling infrastructure to support urban development and improve energy efficiency.
Over the 12 months from July 2025 to June 2026, consolidated revenue rose 3.7 percent to AED3.49 billion ($950.2 million).
The company signed 61 new contracts during the first half to supply 73,415 refrigeration tonnes of district cooling capacity, lifting total contracted capacity to 2.02 million refrigeration tonnes.
Connected capacity increased by more than 51,000 refrigeration tonnes to 1.71 million refrigeration tonnes, while the number of buildings served rose to 1,796.
During the period, Empower opened a new Command Control Centre and a Customer Happiness Centre at its headquarters in Al Jadaf and awarded the design contract for its fifth district cooling plant in Dubai’s Business Bay, which will have a production capacity of up to 44,000 refrigeration tonnes.
The company also distributed AED437.5 million ($119.1 million) in cash dividends for the second half of 2025 following shareholder approval at its annual general meeting in March.
