Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Tabreed's H1 2018 Net Profit Increases 10% To AED 211.9 Million
 
2 August, 2018 – Abu Dhabi, United Arab Emirates:   National Central Cooling Company PJSC (DFM: Tabreed), the leading regional district cooling utility company, today released its consolidated financial results for the first half of 2018. The company continues to meet the region’s growing demand for district cooling and deliver solid performance and growth.
 
Financial highlights – six months ended 30 June 2018:
  • Net profit attributable to the parent increased by 10 per cent to AED 211.9 million (H1 2017: AED 192.7 million)
  • Group revenue increased by 2 per cent to AED 650.7 million (H1 2017: AED 639.2 million)
  • Core chilled water revenue increased by 2 per cent to AED 617.3 million (H1 2017: AED 602.3 million)
  • EBITDA increased by 6 per cent to AED 326.1 million (H1 2017: AED 308 million)
  • Share of results of associates and joint ventures decreased by 26 per cent to AED 46 million (H1 2017: AED 62.4 million)
Operational highlights – six months ended 30 June 2018:
  • Total Group connected capacity across the GCC increased to 1,113,906 Refrigeration Tons (RT), with 21,588 RT of new customer connections added in the first half of the year across the GCC 
Environmental highlights – six months ended 30 June 2018:
  • Contributed to saving 600 million kilowatt/hour across the GCC – enough energy to power approximately 20,000 homes in the UAE every year
  • These power savings prevented the release into the atmosphere of 300,000 tons of carbon dioxide – the equivalent of eliminating the emissions of 60,000 vehicles annually
Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “We remain committed to returning consistent and positive financial results, which is exemplified in our first half earnings, with net profits increasing by 10 per cent over the same period last year. Tabreed remains the partner of choice across the GCC for providing energy-efficient, cost effective, and environmentally friendly cooling solutions. We are confident that we will further expand our operations whilst continuing to deliver stable returns to our shareholders.”
 
Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “We are now in our 20th year of operation and, year after year, we have demonstrated consistent robust results underpinned by Tabreed’s unwavering focus on growing our core chilled water business which provides sustainable, reliable and cost-effective energy solutions. We continue to strengthen our regional presence and deliver operational excellence by building strategic partnerships with leading government and private entities, resulting in the addition of more landmark projects to our portfolio.”
 
Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions that support the region’s energy sustainability. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region, including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.


Posted by : Dubai PR Network Editorial Team
Viewed 7283 times
PR Category : Energy and Industry
Posted on : Thursday, August 2, 2018  12:45:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Barakah Unit 2 Successfully Completes Significant Pre-Operat...
Next Story : Nawah Energy Company Celebrates the Graduation of 195 ‘Energ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
The FW18 Trend Report From Weill Paris [20807-Views]
Climax Mascara Never Fake It [13774-Views]
Discover the Secret to Younger-looking, Radiant Skin [13640-Views]
Keep your skin looking healthy and hydrated, naturally [13536-Views]
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Natural Skinc... [10858-Views]
Brow Contour Pro 4-in-1 defining & highlighting brow pencil [10419-Views]
LOOTAH Perfumes brings a collection of delicate scents to fulfill the needs of the fragran... [10260-Views]
The Balmain Haute Elegance Oval mirrors the brand's soul [9595-Views]
BodyO launches officially its AiPod for a full body check-up during the Gitex Future Stars [9217-Views]
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of the precisio... [8924-Views]
Get flawless skin with Rodial's new Booster Drops [8570-Views]
The World of Aigner Wunderkammer [8381-Views]
Lexus Design Award 2019 open for entries [8003-Views]
Elegant and feminine new Mini Bubble set to make a big splash [7436-Views]
Trend Alert! Giddy up on the best platform with your new horse-inspo ensemble from kate sp... [7290-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology [7125-Views]
Introducing the GUESS Jeans Fall 2018 Collection' [6826-Views]
Curate your perfect Autumn Winter wardrobe, with Robinsons [6722-Views]
Dubai Shopping Festival Returns With Much-awaited Mega Raffles [6618-Views]
Mohammad Abdullah, President of Dubai Institute of Design and Innovation (DIDI) [6454-Views]
Corum Heritage Eleganza- Dedicated to the stylish woman [6344-Views]
Daniel Craig Brings the Diver 300m to the Surface [6252-Views]
DS Podium Chronograph 1/100 sec [6210-Views]
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch' [5941-Views]
OMEGA gets set to time the Youth Olympic Games Buenos Aires 2018 [5868-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories