Dubai – Mubasher: The integrated report issued by National Central Cooling Company (Tabreed) for 2021 showed an increase of 7% year-on-year (YoY) in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to AED 1.03 billion from AED 970.1 million in 2020.

Tabreed’s revenues surged by 12% YoY to AED 1.95 billion during 2021, compared to AED 1.7 billion, according to a bourse disclosure on Monday.

Net profits attributable to the owners also rose by 6% to AED 585.2 million in 2021 from AED 550.3 million in the previous year.

As for core chilled water revenue, Tabreed reported annual growth of 12% to AED 1.88 billion last year, compared with AED 1.69 billion in 2020.

The UAE company managed to increase its portfolio to 86 plants with a connected capacity of nearly 1.2 million refrigeration tonnes RT). Tabreed noted that its business growth in 2021 endorsed its position as the “undisputed leader in district cooling in the UAE and the region.”

Chairman of Tabreed, Khaled Al Qubaisi, commented: “Our operations are approximately 50% more efficient than traditional cooling and, during 2021, Tabreed prevented the release of 1.39 million metric tonnes of CO2 into the atmosphere, equivalent to removing 302,592 vehicles from our roads – a record each of us is incredibly proud of.”

During the first nine months of 2021 (9M), the company generated consolidated net profits attributable to the equity holders worth AED 388.002 million, compared to AED 370.444 million in 9M-20.