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Tabreed’s profits to owners exceed AED 600m in 2022; dividends unveiled

Tabreed’s profits to owners exceed AED 600m in 2022; dividends unveiled
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Dubai – Mubasher: The net profits attributable to the shareholders of National Central Cooling Company (Tabreed) reached AED 600.18 million in 2022, up 3% year-on-year (YoY) from AED 585.15 million.

Tabreed generated AED 2.21 billion in revenues during the January-December 2022 period, an annual growth of 13% from AED 1.95 billion, according to the consolidated financial results.

Basic and diluted earnings per share (EPS) attributable to the equityholders stood at AED 0.21 last year, unchanged from 2021.

Furthermore, the total assets amounted to AED 15.45 billion as of 31 December 2022, higher than AED 14.83 billion a year earlier.


The board of Tabreed agreed on 14 February 2023 to disburse cash dividends of 13.50 fils per share, which accounts for 13.50% of the company’s share capital, for 2022.

Khaled Abdulla Al Qubaisi, Chairman of Tabreed, commented: “ Targeted, strategic, carefully planned growth continues to manifest meaningful results that benefit shareholders, employees, clients, and the districts and communities in which we operate.”

In the first nine months (9M) of 2022, Tabreed posted an annual rise in net profits attributable to the owners from continuing operations to AED 399.61 million, compared to AED 307.79 million.