Emirates Central Cooling Systems Corporation (Empower) has reported higher first-half profit and revenue supported by growing demand for cooling services across the emirate.
The Dubai's district cooling provider said its net profit after tax for the six months ended June 30 rose 16.2% year-on-year to AED468 million ($127.4 million), while the revenue increased 4.5% to AED1.52 billion ($413 million).
The earnings before interest, taxes, depreciation and amortisation (ebitda) rose 7.5% to AED773 million, while profit before tax increased 16.2% to AED514 million.
According to Empower, the first half witnessed notable growth in its contracted capacity, with the company signing 61 new contracts to supply 73,415 refrigeration tonnes (RT) to various developments and projects across Dubai.
This led to a significant increase in the company’s total contracted capacity, reaching 2.02 million RT, reflecting the growing demand from real-estate developers and building owners for environmentally friendly district cooling services, it stated.
Connected capacity increased by more than 51,000 RT to 1.71 million RT during the period, while the number of buildings served rose to 1,796, it added.
Over the 12 months from July 2025 to June 2026, consolidated revenue increased 3.7% to AED3.49 billion, while ebitdaA rose 8.2% to AED1.70 billion.
In March, shareholders approved a cash dividend of AED437.5 million for the second half of 2025, equivalent to 4.375 fils per share.
As part of its expansion strategy to strengthen infrastructure and extend its services in key locations, Empower announced during the first half the award of a contract for the design of its fifth district cooling plant in Business Bay, Dubai. The new plant will have a production capacity of up to 44,000RT, it stated.
On the solid performance, CEO Ahmad Bin Shafar said: "Empower’s record results during the first half reflect the strength of our business model, the resilience of our operational infrastructure, and our ability to keep pace with the accelerated growth across Dubai’s key sectors."
"These results further reaffirm that district cooling is no longer merely a supporting service for buildings and developments; it has become a strategic component of sustainable cities and a key enabler of resource efficiency, carbon reduction, and Dubai’s global competitiveness," he added.
