Empower reported net profits of Dh468 million during the first half of this year, up 16.2 per cent compared to the same period last year, while its revenues increased 4.5 per cent to Dh1.5 billion.
The cooling services provider, the largest in the world, signed 61 new contracts in the first half of this year to deploy 73,415 refrigeration tons (TR) to various developments and projects across Dubai, which led to its overall contracted capacity reaching 2.02 million TR. TR is a standard unit of cooling, equivalent to 12,000 Btu, or 3.517 kW.
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The contracted capacity is the maximum amount of cooling power a provider makes available for a building owner and is approved by the building owner’s consultant and authorized by Dubai Municipality.
Meanwhile, Empower’s connected capacity, which is the total potential output connected to a cooling system, increased to 1.71 million RT after adding more than 51,000 RT during the first half of the year. The total number of buildings served by the company also increased to 1,796 over the same period.
EBITDA reached Dh773 million, a 7.5 year-on-year growth, while profit before tax amounted to Dh514 million, also an increase of 16.2 per cent compared to the first half of 2025.
The Dubai headquartered company held a quorum in March with of 85 per cent of the Empower’s paid-up share capital and approved the Board of Directors’ proposal to distribute cash dividends of Dh437.5 million (4.375 fils per share, or 43.75 per cent of the company’s paid-up capital). The dividends were subsequently distributed to shareholders in accordance with the approved timetable.
Financial performance for the period July 2025 to June 2026
Over the twelve-month period from July 2025 to June 2026, Empower’s consolidated revenue reached Dh3.49 billion, compared to Dh3.36 billion during the period from July 2024 to June 2025, a 3.7 per cent jump. EBITDA reached Dh1.70 billion, compared to Dh1.57 billion the previous financial year, representing an 8.2 per cent growth.
As part of its expansion strategy, Empower awarded a contract for the design of its fifth district cooling plant in Business Bay, Dubai during the first half of 2026. The new plant will have a production capacity of up to 44,000 RT.
Earlier this year Empower’s CEO was appointed a full-time board member at the International District Energy Association (IDEA), a global nonprofit with more than 2,500 from over 25 countries.
Ahmad Bin Shafar, the CEO will remain on the Board for a three-year term until 2029, an announcement made earlier this year during IDEA’s 117th Annual Conference and Exhibition.
Source: Khaleej Times