It achieved 2.46 billion dirhams in revenues, and 936 million in net profits in 2021

Empower distributes 500 million dirhams in dividends to shareholders

The Emirates Corporation for Central Cooling Systems “Empower” announced the distribution of 500 million dirhams in dividends to the company’s shareholders for the fiscal year ending on December 31, 2021, which represents 53.4% ​​of the total net profits recorded by “Empower” for the last fiscal year, which amounted to 936 million dirhams, an increase of 4% compared to 2020.

In a statement, the company stated that it recorded remarkable total revenues of about 2.464 billion dirhams, an increase of 9.3% compared to 2020, while the total distributions to shareholders amounted to 3.15 billion dirhams since 2004.

Strength and leadership

The CEO of Empower, Ahmed bin Shafar, said that the corporation's performance and financial results in general, and the profits achieved in particular, reflect the extent of its strength, leadership and leadership of the district cooling industry locally and globally, and at the same time proves the success of its proactive strategy in infrastructure investment. By continuing to build and develop assets that guarantee sustainable revenues on the one hand, and high flexibility to keep pace with the increasing demand on the other.

Added Value

Bin Shafar affirmed Empower's commitment to achieving an added value for Dubai's economy, for shareholders and customers, who are distributed over 1,413 buildings, between a real estate developer, owner and end user, pointing out that the results of 2021 and its profits formed a new page in a record of successes that have continued for nearly two decades, It bodes well for more deliberate growth.

Expected results

He added that the expected results of Empower for the current year 2022 are promising and strongly, more than its predecessors, especially after the three acquisitions it had concluded on the cooling activities of "Nakheel", "Meydan", and Dubai International Airport, with more than two billion dirhams, in addition to operating cooling stations. New areas of the new generation in areas with high population density, most notably in “Zabeel” and Dubai Production City, in addition to executive contracts covering the expansion of the institution from engineering consultancy, construction, design and operation of cooling stations, and the expansion of the pipeline network for transporting services, which reached a length of 369 kilometers by the end of 2021, and the extension of new networks to serve the latest projects in Dubai, and the construction of thermal energy exchange rooms, water tanks, and many more.

quality and efficiency

Bin Shafar stated that Empower's priority aims to continue leading the way in providing district cooling services with high quality and efficiency, in accordance with the highest international standards and international best practices, based on diligent work in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE Ruler of Dubai, in achieving sustainable development at all levels, including the "UAE Centennial 2071" and the "Dubai Clean Energy Strategy 2050", to make Dubai the city with the lowest carbon footprint in the world by 2050.

company portfolio

He pointed out that Empower strengthened its business portfolio in 2021, expanding distribution networks to new urban areas to meet the demand for its services from mixed-use projects ranging from residential and commercial, health care, education, entertainment, shopping and hospitality.

success factors

Bin Shafar pointed out that the year 2021 was an important milestone in the history of Empower, and a milestone in its career at all levels.

He explained that the successes that have been achieved are unprecedented, both quantitatively and qualitatively, and many factors contributed to their achievement, most notably the strategic business model that was based on investment in infrastructure, and the proactive adoption and development of modern technologies that pave the way for the success of our expansions in the district cooling market in Dubai, supported by the significant growth in supply networks. Services to the largest and diversified projects in the city, which greatly increased the portfolio of projects and clients benefiting from Empower.

Follow our latest local and sports news and the latest political and economic developments via Google news