The Emirates Central Cooling Systems Corporation (Empore) announced its financial results for the fiscal year 2024, where record revenues of 3.3 billion dirhams for the fiscal year 2024, with a remarkable growth of 7.4% compared to the revenues of 2023, and recorded net profits of 908 million dirhams during 2024.
“The Foundation succeeded during the past year in employing the economic movement of the Emirate of Dubai to achieve its goals and implement a part of its plans related to the maximum benefit from the escalation of the performance of residential and commercial real estate markets, the tourism and travel market, and the entertainment sector,” explaining that one of its plans related to the maximum benefit from the escalation of the performance of residential and commercial real estate markets, the tourism and travel market and the entertainment sector, explaining that “Imbauer” works with literal mechanisms and flexible executive plans, which ensure the growth and prosperity of its work, and achieve sustainable revenues and profits for their shareholders.
He pointed out that 2024 was another success station in the “Embower” march full of achievements, most notably the growth of its portfolio from the various iconic and useful iconic projects, and the increasing number of final users benefiting from the institution’s services, achieving a high level of customer satisfaction, as well as the development and increasing size of the institution’s assets, And achieve qualitative transfers in the use of modern technologies and solutions in its stations and networks of transporting and distributing the environmentally friendly regions, in addition to the excellence of their global participation in international forums, helping countries and governments in protecting the environment and preserving future generations resources, and developing a high -level social responsibility model.
The revenues of “Embower” and profits grew before deducting interest, taxes, depreciation and consumption by 7.4% and 6.2%, respectively, during the year 2024. The institution’s profits before the tax increased 5.9% compared to 2023 to reach 998 million dirhams, and thus the Foundation has achieved a total net profit yet The tax was 908 million dirhams for the year 2024.
During the year 2024, Imbauer distributed a cash profit of 850 million dirhams over two equal installments of 425 million dirhams each during April and October. This distribution comes in implementation of the Foundation’s commitment to distribute profits to its shareholders with a cumulative value of 850 million dirhams annually during the first two years, after its inclusion in the Dubai Financial Market.
After the dividends committed to the first two years after the public subscription, the institution expects to maintain sustainable profits in line with the growth of its business.
The year 2024 witnessed a distinguished performance in the “Embower” operations compared to 2023, as the contracted capacity increased 6.9% compared to 2023 to reach 1.78 million tons of cooling, after the signing of 111 contracts during 2024, while the length of the institution network exceeded the lines of transportation and distribution Cooling energy to various regions of Dubai is 418 km, and the total number of its stations was 88.
Embower showed a significant increase in its work, as the number of buildings provided by them with areas of cooling areas reached 1637 buildings, an increase of 7.2% compared to 2023.
The number of dealers at Embower exceeded 143 thousand dealers, and their consumption of regions cooling services increased by 10% (a cooling ton per hour) during the year 2024 compared to 2023, and the Foundation explained that the remarkable growth in its productivity and the consumption of its customers are Nagsan from joining many new projects with a portfolio. Empower », high occupancy rates in existing real estate projects.
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