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Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, announced robust financial results for the first quarter of 2025. The company reported a revenue of AED 540 million, marking a 0.4% increase compared to Q1 2024. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at AED 297 million for the period ending 31 March 2025. Pre-tax net profit reached AED 159 million, while post-tax net profit amounted to AED 145 million.

His Excellency Ahmad Bin Shafar, CEO of Empower, credited the company's continued growth to strategic expansions and the integration of major real estate developments into Empower’s district cooling network. “Empower remains firmly committed to expanding its asset base to meet growing demand, further strengthen its market share, and ensure sustainable, long-term returns,” said Bin Shafar.

Strategic Growth and New Projects

The first quarter of 2025 witnessed Empower signing 46 new contracts, supplying more than 43,000 refrigeration tons (RT) across various developments in Dubai. This brought the company's total contracted capacity to over 1.81 million RT, while connected capacity surpassed 1.58 million RT, driven by the addition of over 15,000 RT in Q1 alone.

Among the notable agreements, Empower partnered with Wasl Group to supply 23,853 RT of district cooling to The Island Resort, expected to commence operations in Q1 2028. Further, a strategic deal was signed with Dubai Multi Commodities Centre (DMCC) to serve the upcoming Uptown Dubai phase with 24,675 RT of cooling capacity. The Palm Gateway project on Palm Jumeirah was also added to Empower’s portfolio, with a capacity of 9,470 RT and operations beginning in Q2 2026.

Operational Excellence and Customer Growth

During the quarter, Empower added 19 new buildings to its network. Online customer registrations surged by 22% year-on-year, indicating growing demand for sustainable cooling solutions. The company also recorded a 7% increase in online bill payment transactions, processing 224,886 payments in collaboration with banks and financial partners. Additionally, 11,116 No-Objection Certificate (NOC) service requests were approved, reflecting an 8% YoY growth.

Annual and Twelve-Month Performance

Empower’s consolidated revenue for the twelve-month period from April 2024 to March 2025 stood at AED 3.26 billion, up 6% from AED 3.08 billion in the prior-year period. The company's EBITDA for the same period reached AED 1.53 billion, a 3.3% increase from AED 1.49 billion the previous year.

In March 2025, Empower's Annual General Meeting, with a 89.9% shareholder quorum, approved a cash dividend of AED 437.5 million for H2 2024, equating to 4.375 fils per share and representing 43.75% of paid-up capital.

International Recognition and Industry Leadership

Empower continued its global engagement by participating in the IDEA Campus Energy 2025 Conference in Boston, USA. CEO Ahmad Bin Shafar met with Rob Thornton, President and CEO of the International District Energy Association (IDEA), to coordinate Dubai’s hosting of the District Cooling Conference 2025 — the fourth time the city will host this global event.

Highlighting his contributions to sustainability and innovation, Bin Shafar was named among the "Dubai 100" by Arabian Business, a list recognizing individuals shaping the emirate’s future across key sectors.

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