Empower's 2024 Revenue Surges to AED 3.3 Billion Amid Robust Growth

Emirates Central Cooling Systems Corporation has reported a significant financial upturn for the fiscal year 2024, achieving an annual revenue of AED 3.3 billion, a 7.4% increase from the previous year. The company's net profit stood at AED 908 million, reflecting its strong market position and operational efficiency.

The profit before tax reached AED 998 million, marking a 5.9% rise compared to 2023. This financial performance underscores Empower's strategic expansion and its ability to capitalize on the growing demand for district cooling services in Dubai.

In line with its commitment to shareholder returns, Empower distributed cash dividends totaling AED 850 million in 2024. These were disbursed in two equal installments of AED 425 million each, in April and October, adhering to the company's pledge of annual payouts during the initial two fiscal years following its listing on the Dubai Financial Market. Looking ahead, Empower aims to maintain sustainable dividend distributions aligned with its business growth trajectory.

Operationally, 2024 was a landmark year for Empower. The company's contracted capacity expanded by 6.9%, reaching 1.78 million refrigeration tons after securing 111 new contracts. The distribution pipeline network extended beyond 418 kilometers across various regions of Dubai, and the number of district cooling plants increased to 88.