Tabreed raises net profit to 550 million dirhams in 2020

Bader Al-Lamky: “We achieved excellent performance and succeeded in implementing our priorities for 2020 effectively in a challenging environment.”

The National Central Cooling Company (Tabreed) announced its audited financial results for the year 2020, which showed an increase of 16.5% in net profits to reach 550 million dirhams, compared to 472 million dirhams in 2019.

Tabreed’s Board of Directors recommended a dividend for the year 2020 of 11.5 fils per share, through the distribution of cash dividends of 5.75 fils per share, in addition to the issuance of a free share, by one share for every 45 shares owned, to constitute a return of 11.5 fils per share, an increase of 10% Comparison of 2019 earnings.

According to the financial results, the group’s revenues increased by 14.5%, to reach 1.741 billion dirhams, compared with 1.52 billion dirhams in 2019. Earnings before interest, taxes, depreciation and depreciation increased by 27%, achieving 970 million dirhams, compared to 763 million dirhams. During 2019.

The Chairman of the Board of Directors of Tabreed, Khaled Abdullah Al Qubaisi, said that the company has become a leading global power in the field of district cooling with 86 stations and investments in six countries. From the difficult operating environment.

In turn, the CEO of Tabreed, Bader Al-Lamky, said: “We achieved excellent performance and succeeded in effectively implementing our priorities for 2020 in a challenging environment,” referring to the company's ability to adapt quickly, while continuing to implement its long-term strategy.

He added, "I think (Tabreed) is currently in a good position to continue taking advantage of these additional opportunities and partnerships during the current year and in the future."

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