Empower-ing Performance

Empower-ing Performance

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  • Emirates Central Cooling Systems Corporation PJSC (EMPOWER) achieved a milestone with its highest-ever revenue of AED 3.035 billion in the fiscal year 2023, marking an impressive growth of 8.7% compared to the previous year. The company also reported a net profit of AED 960 million for the year, signaling strong financial performance amidst a challenging market landscape. Empower has proposed a final dividend of AED 425 million for 2023, demonstrating its commitment to rewarding shareholders.
  • Empower's operational performance was robust, with significant growth in its district cooling services. The number of buildings served by Empower reached 1522 by the end of 2023, reflecting a 4% increase compared to the previous year. Additionally, the total length of the district cooling pipeline network surpassed 398 kilometers, marking a 4.7% increase. These achievements underscore Empower's leadership in delivering sustainable cooling solutions in Dubai's real estate sector.

Why it matters

Ahmed bin Shafar, CEO of Empower, highlighted the company's proactive approach in addressing challenges and leveraging opportunities for growth. He emphasized Empower's strategic readiness to navigate rapid developments in the real estate sector, driven by investments in advanced technologies and modern cooling infrastructure.

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