Emirates Central Cooling Systems Corporation (Empower) announced on Tuesday its financial results for the first half of 2025. The company reported a net profit after tax of AED403 million ($109.72 million), marking a 3.4 percent increase compared to the same period in 2024
Total revenue reached AED1,453 million, marking a 7.5 percent increase compared to the same period in 2024. Meanwhile, EBITDA reached AED719 million, with a growth of 3.6 percent and the pre-tax net profit amounted to AED442 million, marking 3.3 percent growth compared to the first half of last year.
“Empower’s exceptional performance in the first half of 2025 reflects the strength of our integrated business model and the ability to efficiently adapt to changing market dynamics and customer needs. Our sustained success is driven by a forward-looking strategy, operational excellence and the ability to extract long-term value from the continued momentum in the real estate sector,” said HE Ahmad Bin Shafar, CEO of Empower.
Consolidated revenues hit AED3.36 billion
Empower reported consolidated revenues of AED3.36 billion for the twelve-month period from July 2024 to June 2025, compared to AED3.16 billion in the period from July 2023 to June 2024; an increase of 6.3 percent. EBITDA for the same period reached AED1.58 billion, compared to AED1.50 billion previously, reflecting a growth of 5.1 percent.
Bin Shafar noted Empower’s continued growth and development on all fronts, including the expansion of its infrastructure and project portfolio, and its consistent integration of innovation and digital transformation across operations. He reaffirmed the company’s prominent presence in global district cooling forums, reflecting Empower’s international leadership and commitment to sharing expertise in sustainable cooling.
He further emphasised Empower’s long-term commitment to creating added and sustainable value for all stakeholders, and to strengthening its position as a global benchmark in environmentally friendly district cooling.
The Annual General Meeting, which was held in March with a quorum of 89.9 percent, approved the Board of Directors’ recommendation to distribute cash dividends for the second half of 2024, amounting to AED437.5 million in total, equivalent to 4.375 fils per share or 43.75 percent of the company’s paid-up capital, which was paid in April, 2025.
86 new contracts signed in H1 2025
The first half of 2025 witnessed a significant growth in Empower’s business. The company signed 86 new contracts to supply over 99,000 refrigeration tons (RT) to various projects across Dubai. This boosted Empower’s total contracted capacity to 1.86 million RT, reflecting growing demand among developers and building owners for the environmentally friendly district cooling solutions.
Empower signed two major agreements during the first half of 2025. The first one is with DMCC, the leading international business district that drives the flow of global trade through Dubai, to supply district cooling services to the next phase of Uptown Dubai, for a capacity of 24,675 RT. The second one is for the Island project, by Wasl, to supply environmentally friendly district cooling services for a total cooling capacity of 23,853 RT.
Moreover, the company’s total connected capacity exceeded 1.6 million RT following the addition of approximately 38,000 RT during the reporting period. Empower also reported a notable increase in its service footprint, with the total number of buildings it serves reaching 1,684 in the first half of 2025.
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New district cooling plant in Al Sufouh 2 area announced
Aligning with Empower’s strategy to strengthen the district cooling infrastructure and expand its services in strategically important areas of Dubai, the company announced a new district cooling plant in Al Sufouh 2 area during the reporting period. The foundation work has already started for the new plant, while construction is scheduled to begin in the fourth quarter of 2025.
This plant will be the first in a series of three future plant rooms that Empower plans to build in the area. The new plant will have a cooling capacity of 23,400 RT (RT) to serve several buildings, including the “Innovation Hub,” one of the prominent landmarks in Al Sufouh.
