Abu Dhabi (WAM) The National Central Cooling Company “Tabreed” achieved an increase in its net profit to reach 585.2 million dirhams during the year 2021. The company’s board of directors recommended distributing dividends for the year 2021 at a value of 12 fils per share, of which 50% will be paid in cash and the remaining will be paid through the issuance of additional bonus shares at the rate of one share for every 40 shares owned. These distributions come in line with the growth of the company’s business and the increase in profits achieved, while maintaining the availability of capital to develop the company’s future business.
Tabreed continued to implement its long-term plans for sustainable growth during the year 2021, as it consolidated its operations and expanded within the United Arab Emirates, adding new connections through the network of cooling plants in the downtown area of Dubai, in addition to obtaining full ownership of the cooling plant located on an island Al Maryah, Abu Dhabi, which has a capacity of 80,000 refrigeration tons from Mubadala Infrastructure Company (MIP). Group revenues increased to 1.95 billion dirhams, compared to 1.7 billion dirhams in 2020, while chilled water revenues increased to 1.88 billion dirhams, compared to 1.69 billion dirhams in 2020. One billion dirhams, compared to 970.1 billion dirhams in the year 2020. The company’s consolidated net profit increased by 6%, to 585.2 million dirhams, compared to 550.3 million dirhams in 2020. The company achieved operational achievements during the year 2021, as the total amount of cooling capacity increased to 1,210,096 tons Tabreed, following the adjustment related to the company’s liquidation of its shares in Qatar Cool, while the amount of extensions for new customers amounted to 40,495 refrigeration tons, in addition to recording 14,738,690 working hours without loss of time incidents, the last of which was in July 2015. The company also saved 2.33 billion kilowatt-hours of the company’s operations across the GCC; enough to power 132,590 homes annually in addition to reducing the emission of more than 1.39 million metric tons of carbon dioxide into the atmosphere; The equivalent of removing 302,592 vehicles annually.
