Tabreed reports $23.28m net profit in Q1 21
ABU DHABI, 5 days ago The National Central Cooling Company (Tabreed), headquartered in the UAE, reported a net profit of AED85.5 million ($23.28 million) in the first quarter of 2021, a YoY growth of 4%. Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks, a WAM report said. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar – a deal financially closed in April 2021.
Tabreed reports Dhs85.5 million net profit
10 May 2021 Tabreed’s revenue has continued to grow along with its portfolio of district cooling networks. The National Central Cooling Company (Tabreed), headquartered in the UAE, on Monday released its consolidated financial results for the first three months of 2021, reporting a net profit of Dhs85.5 million, a YoY growth of 4 per cent.
Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar - a deal financially closed in April 2021.
Tabreed reports AED85.5 million net profit in Q1 21
ABU DHABI, 9th May, 2021 (WAM) The National Central Cooling Company PJSC (DFM: Tabreed), headquartered in the UAE, today released its consolidated financial results for the first three months of 2021, reporting a net profit of AED 85.5 million, a YoY growth of 4 percent.
Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar – a deal financially closed in April 2021.
Digital transformation of ME’s $8 billion cooling industry on track
02 May 2021 Officials of Tabreed, SAP and Deloitte during the partnership signing ceremony.
Global technology company SAP has announced its partnership with The National Central Cooling Company (Tabreed), the leading UAE-based international district cooling developer, in a move that will contribute to the digital transformation of the district cooling industry.
In the Middle East, population growth, diversified economic growth, the hot climate and government visions for environmental sustainability all favor the growth of district cooling. As a result, the Middle East’s district cooling market is valued at $8 billion, according to Global Market Insights, and poised for an 8 per cent year-on-year growth between 2021 and 2027.