DUBAI / WAM
Emirates Central Cooling Systems Corporation, Empower, has recorded a net profit of AED516 million for fiscal year ended December 2015, representing an impressive 27% increase over 2014. Total revenues for the year reached AED 1.66 billion, a 12% increase YoY.
“Empower achieved an annual increase of 6.7% in its cooling capacity, to pass it over 1,115,000 Refrigeration Tons (RT) in 2015. Moreover, the company boosted its production and commissioned new plants,” said Ahmad Bin Shafar, CEO of Empower, at a press conference on Tuesday, pointing out that the company also increased its workforce by 13% in the same year.
He added, “The district cooling industry achieved significant growth in 2015 not only in the UAE but also internationally. Many countries are now more determined to adopt district cooling, thus reducing their dependence on conventional cooling systems. It is a matter of pride for UAE to be at the forefront of countries that deployed district cooling technologies since a long time.”
Empower follows a business model that works on the strategy of investing in plants and network infrastructure driven by actual demand in specific projects. This has resulted in sustainable growth of the company and avoided unproductive investments. Empower operates more than one million one hundred thousand Refrigeration Tons (RT), providing environmentally friendly district cooling services to large-scale real estate developments.
Empower’s 2015 net profit reaches AED516 million
DUBAI / WAM