Revenue of Empower grew by 7.5% while net profit witnessed a 3.4% surge during the first half.
Empower's Growth Continues: New District Cooling Plant Announced and Revenue Surges
Empower, the world's largest district cooling services provider, has announced a new district cooling plant in Al Sufouh 2 area, marking a significant step in its ongoing expansion. The new plant will have a cooling capacity of 23,400 RT and will serve several buildings, including the "Innovation Hub."
This announcement comes as Empower reports a 7.5% increase in total revenue for the first half of 2025, reaching AED 1.45 billion. The company's net profit also rose by 3.4% to AED 403 million during this period.
The revenue and profit growth reflect sustained demand for environmentally friendly, energy-efficient cooling solutions amid Dubai's expanding real estate and infrastructure sectors. Empower's earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the same period reached Dh719 million, with a growth of 3.6% compared to the same period in 2024. The net profit after tax for the first half of 2025 reached Dh403 million, marking a 3.4% increase compared to the same period in 2024.
Empower's growth is not limited to revenue and profit. The company has also expanded its service footprint, serving 1,684 buildings in Dubai during the first half of 2025. This expansion was made possible through the signing of 86 new contracts, which supplied over 99,000 RT to various projects across Dubai, boosting Empower's total contracted capacity to 1.86 million RT and total connected capacity to over 1.6 million RT.
In addition to the new plant in Al Sufouh 2 area, Empower plans to build three future plant rooms in the Al Sufouh area, with the new plant being the first in the series. Construction of the new plant is scheduled to begin in the fourth quarter of 2025.
Empower's growth is not only reflected in its operations but also in its financial health. The pre-tax net profit for the first half of 2025 amounted to Dh442 million, marking a 3.3% growth compared to the first half of last year. The company's Annual General Meeting, held in March 2025, approved the distribution of cash dividends for the second half of 2024, amounting to Dh437.5 million in total. The cash dividends were paid in April 2025, equivalent to 4.375 fils per share or 43.75% of the company's paid-up capital.
Empower reported consolidated revenues of Dh3.36 billion for the period July 2024 - June 2025, an increase of 6.3% compared to the previous year. The total connected capacity of Empower exceeded 1.6 million RT during the reporting period, following the addition of approximately 38,000 RT.
In terms of significant partnerships, Empower signed two major agreements in the first half of 2025: one with DMCC for Uptown Dubai and another for the Island project. These agreements further solidify Empower's position as a key player in Dubai's district cooling sector.
In conclusion, Empower's continued growth and expansion are a testament to its commitment to providing efficient and environmentally friendly cooling solutions in Dubai. The company's strong financial performance, increasing customer base, and strategic partnerships position it well for future growth and success.
- The new district cooling plant in Al Sufouh 2 area, operational by Empower, underscores their commitment to sustainable business practices in the realm of environmental finance.
- The financial news for Empower is positive, as their net profit sees a 3.4% increase in the first half of 2025, reflecting a growth in the broader real-estate and infrastructure sector of Dubai.
- Alongside financial growth, Empower has continued to expand its service footprint in the sports business of Dubai, now serving 1,684 buildings by the end of the first half of 2025.
- Empower's long-term investment strategy is evident with their plan to build three future plant rooms in the Al Sufouh area, further solidifying their position as a significant player in Dubai's district cooling sector and real-estate market.
