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Empower announces AED 871 mn net profit in 2019

Reports growth of 8.3% and reveals that its total cooling capacity has crossed 1,530,000 refrigerated tonnes

| | Jan 27, 2020 | 2:57 pm
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Ahmad Bin Shafar

DUBAI, UAE, 27 January 2020: Emirates Central Cooling Systems Corporation (Empower) on January 27 reported a net profit of AED 871 million in 2019, which it said translated to an increase of 8.3% year-over-year (YoY). The company said it has achieved a total revenue of AED 2.19 bn, an increase of 7.9% YoY.

Commenting on Empower’s financial results at the annual press conference, Ahmad Bin Shafar, CEO, Empower, said: “2019 has been a milestone year for Empower, given the remarkable net profit increase, in addition to the significant expansion in number of district cooling plants, district cooling pipeline network, customer base and the number of buildings connected with our district cooling services.”

Bin Shafar said that the number of buildings that Empower provides with its district cooling services exceeded 1,180 and the customer base has reached to more than 120,000. The total cooling capacity, he said, has reached 1,530,000 refrigerated tonnes (RT) during 2019, and covered various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, Dubai International Financial Centre, Business Bay, Dubai Healthcare City, Jumeirah Lake Towers, Palm Jumeirah, Discovery Gardens, Ibn Battuta Mall, Dubai Design District and International Media Production Zone, amongst others.

“Empower has saved a total of 1,224 MW electricity worth AED 3.2 billion as of the end of 2019,” Bin Shafar said. The utility, he said, has also saved 326 million imperial gallons of water in Dubai through investments made in treated sewage effluent.

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