Tabreed's Strategic Growth: Interim Dividend and Record Capacity Expansion
National Central Cooling Company PJSC (Tabreed) has announced its financial results for H1 2025, highlighting a strategic growth trajectory.
Summary
Tabreed's H1 2025 financial results show a 3% revenue increase to AED 1.11 billion and a 2.5% rise in net profit. The company proposes its first-ever interim dividend and reports significant capacity growth.
Tabreed's Financial Performance and Strategic Growth in H1 2025
National Central Cooling Company PJSC (Tabreed), a leader in district cooling, has reported its financial results for the first half of 2025, showcasing strategic growth and financial stability. The company reported a revenue increase of 3% year-on-year to AED 1.11 billion, driven by higher cooling demand and significant capacity additions. Net profit rose by 2.5% to AED 276 million, supported by business growth and robust EBITDA margins.
Key Performance Indicators (KPIs)
| KPI | H1 2025 | H1 2024 | Change |
|---|---|---|---|
| Revenue (AED) | 1.11 billion | 1.08 billion | +3% |
| Net Profit (AED) | 276 million | 269 million | +2.5% |
| EBITDA (AED) | 632 million | 602 million | +5% |
| EBITDA Margin | 57% | 56% | +1% |
| Earnings per Share (EPS) | 6.5 fils | N/A | N/A |
| Debt Ratio | N/A | N/A | N/A |
| Interest Coverage Ratio | N/A | N/A | N/A |
Capacity Expansion and Strategic Initiatives
Tabreed added a record 41.6k Refrigeration Tons (RT) in H1 2025, nearly double the full-year total in 2024, reaching a total connected capacity of 1.37 million RT. The company is set to acquire PAL Cooling, adding over 182k RT, securing a long-term growth pipeline of up to 600k RT across Abu Dhabi.
Reflecting its strong financial position, Tabreed's Board of Directors proposed an interim dividend of 6.5 fils per share for the first half of 2025, marking the first interim dividend in the company's history. This proposal underscores the Board's confidence in Tabreed's performance and long-term value creation.
Conclusion
Tabreed's H1 2025 results demonstrate its strategic momentum, with improved margins and sustained demand supporting continued growth. The company's ability to generate strong cash flows and its strategic capacity expansions position it well for future growth. The proposed interim dividend highlights Tabreed's commitment to delivering shareholder value. Investors should consider Tabreed's robust financial health and strategic initiatives as positive indicators for potential investment.
