Yesterday, the Emirates Central Cooling Systems Corporation (Empower) announced its financial results for the first nine months of this year, recording total revenues amounting to 2.451 billion dirhams, a growth of 8% compared to the same period last year, while achieving profits before interest, taxes, depreciation and amortization of $ 1.124 billion dirhams, an increase of 4.7%, while profits before tax amounted to 719 million dirhams, an increase of 5%.
Empower confirmed in a statement that the exceptional growth in its revenues and profits during the first nine months of 2024 is due to the significant increase in demand for the organization’s services in various regions of Dubai, whose real estate market is witnessing a growth in demand on the one hand, and an increase in the number of new development projects. On the other hand, which in turn led to the growth of the organization’s operations and the increased spread of its environmentally friendly services.
Empower CEO, Ahmed Bin Shafar, said: “The organization has become a role model for companies that fulfill their promises to their customers and shareholders, and it also has a significant positive impact on all partners.”
He added that Empower is working to enhance its operations to meet the increasing demand resulting from the economic development in Dubai, the positive performance of its real estate market, and growth rates in the hospitality and entertainment sectors.
During the past 12 months, Empower’s consolidated revenues amounted to 3.217 billion dirhams (from October 2023 to September 2024), compared to 2.989 billion dirhams (from October 2022 to September 2023), a growth of 7.6%.
Earnings before interest, taxes, depreciation and amortization for the same periods amounted to 1.512 billion dirhams (October 2023 – September 2024), compared to 1.451 billion dirhams (October 2022 – September 2023), a growth rate of 4.2%.
Empower distributed dividends worth 425 million dirhams to shareholders for the first half of the current year in October 2024. Thus, Empower has committed to distributing dividends to shareholders twice annually, with a total value of 850 million dirhams during the first two financial years after its listing on the Dubai market. Financial.
After distributing committed dividends for the first two financial years after the IPO, the Corporation plans to continue distributing sustainable dividends in line with the growth of its business.
• A significant increase in demand for the organization’s services in Dubai
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Empower’s Financial Results: The Cooling System That’s Heating Up!
Yesterday, the Emirates Central Cooling Systems Corporation, known as Empower, unveiled its financial results for the first nine months of this year. With a total revenue of 2.451 billion dirhams, they’ve experienced a rather cool growth of 8% compared to last year. It’s safe to say they’re cooling down their competition, one chilly dirham at a time!
Imagine raking in 1.124 billion dirhams in profits, before interest, taxes, depreciation, and other boring stuff no one really cares about; that’s a growth of 4.7% right there! Who knew that keeping things cool could be so profitable? I guess when it comes to business, it’s not just about keeping your cool, but about cashing in on it too!
Now, what’s the secret behind this icy hot success? According to Empower, the dramatic increase in services is attributed to a surge in demand across various regions of Dubai. It seems like amidst all the skyscrapers, real estate developments, and people needing to feel like they’re living in an actual Ice Age, Empower is just chilling and cashing in. Who says Dubai is all about the heat? Some are just Frosty-the-Snowman-ing their way to the bank!
Ahmed Bin Shafar, the CEO of Empower, remarked that the organization has become a “role model for companies” – you know, like that guy in school who mastered the art of turning in assignments on time, except this guy gets to do it in a boardroom while sipping some high-end iced tea! He added that they are committed to enhancing operations to keep up with the economic development in Dubai, hospitality, and entertainment sectors. Well, he certainly seems to be enjoying the benefits of living in a city that never fails to turn up the heat…literally and figuratively!
So, how has Empower performed over the past year? Their consolidated revenues reached 3.217 billion dirhams, climbing up from 2.989 billion dirhams, which is a lovely growth of 7.6%. If your bank account grew that much, you’d probably take it out for dinner – but I’m betting Empower might just be saving that to build more cooling towers!
And let’s talk about dividends! Empower distributed a whopping 425 million dirhams to shareholders for the first half of the year. Twice a year, they plan to spoil their investors with a total of 850 million dirhams after their grand entrance into the Dubai market. Now that’s what I call putting your money where your cooling systems are. I mean, if I had a dirham for every time a company promised dividends, I’d probably have enough to buy my own ice cream truck!
In summary, while temperatures are soaring, Empower’s fortunes are rising even faster. This company is clearly making a name for itself as the cool kid on the block, with profits that would make any competitor feel like they’ve been left out in the summer sun! So, if you’re looking for a role model in the world of business, perhaps it’s time to turn down that AC and let Empower show you how to do it right – all while keeping things cool!
Isn’t it amusing how financial success can sometimes feel cooler than a refreshing drink on a hot day? Cheers to Empower—the only company that makes Klimt look like a sweat-inducing walk in August!
In a significant announcement made yesterday, the Emirates Central Cooling Systems Corporation (Empower) unveiled its impressive financial results for the first nine months of this year. The company reported total revenues reaching 2.451 billion dirhams, reflecting an encouraging growth of 8% compared to the same period last year. Additionally, Empower achieved profits before interest, taxes, depreciation, and amortization amounting to 1.124 billion dirhams, marking a notable increase of 4.7%. Profits before tax also saw a healthy rise, totaling 719 million dirhams, which represents a 5% increase.
Empower attributed its remarkable revenue and profit growth during the first nine months of 2024 to the robust increase in demand for its services across various regions of Dubai. The real estate market in Dubai is currently experiencing a surge in demand, coupled with a rise in the number of new development projects. This dual trend has considerably boosted Empower’s operations and expanded its reach within the realm of environmentally friendly services.
Empower’s CEO, Ahmed Bin Shafar, emphasized the organization’s status as a role model for companies committed to fulfilling their obligations to customers and shareholders. He acknowledged that Empower also plays a pivotal role in positively impacting all partners associated with the company. He noted, “The organization has become a role model for companies that fulfill their promises to their customers and shareholders, and it also has a significant positive impact on all partners.”
Over the past 12 months, from October 2023 to September 2024, Empower recorded consolidated revenues amounting to 3.217 billion dirhams, a commendable increase from 2.989 billion dirhams earned in the previous year. This translates to a compelling growth rate of 7.6%, underscoring the company’s financial health. Furthermore, earnings before interest, taxes, depreciation, and amortization for these periods reached 1.512 billion dirhams, up from 1.451 billion dirhams a year prior, representing a growth rate of 4.2%.
In a demonstration of its commitment to shareholders, Empower distributed dividends worth 425 million dirhams for the first half of the current year in October 2024. The company has pledged to distribute dividends to shareholders biannually, with a projected total of 850 million dirhams over the first two financial years following its listing on the Dubai Financial Market. Following these distributions, Empower intends to maintain a sustainable dividend policy that aligns with the ongoing growth of its business.
• A significant increase in demand for the organization’s services in Dubai
Oosted Empower’s operations and expanded the reach of its eco-friendly services.
Empower’s CEO, Ahmed Bin Shafar, emphasized the organization’s commitment to excellence, stating, “We have become a role model for companies that deliver on their promises to customers and shareholders.” He added that the company is focused on enhancing operational capabilities to meet the growing demand stemming from Dubai’s economic growth and thriving hospitality and entertainment sectors.
In the past year, Empower’s consolidated revenues totaled 3.217 billion dirhams, up from 2.989 billion dirhams, which translates to a solid growth rate of 7.6%. Furthermore, earnings before interest, taxes, depreciation, and amortization (EBITDA) for the same period reached 1.512 billion dirhams, up 4.2% from the previous year.
The company also announced a substantial dividend payout of 425 million dirhams to shareholders for the first half of the year. Empower has pledged to distribute dividends biannually, amounting to a total of 850 million dirhams during its first two financial years since its IPO on the Dubai market. After fulfilling these commitments, the corporation plans to continue providing sustainable dividends that align with its business growth.
while temperatures rise in Dubai, Empower’s financial growth reflects its position as a key player in the cooling services market. With consistent revenue growth and a robust commitment to shareholder returns, the company is cooling off its competitors and solidifying its status as a leader in the industry.
