Dubai – Mubasher: National Central Cooling Company (Tabreed) achieved net profits after tax worth AED 495.90 million in 2025 when compared with AED 602.75 million in 2024.
The total basic and diluted earnings per share (EPS) attributable to ordinary shareholders of Tabreed went down to AED 0.16 in 2025 from AED 0.20 in the previous year.
The company posted an annual increase of 1% in revenue to AED 2.45 billion in 2025 from AED 2.43 billion in 2024.
Total assets soared to AED 14.58 billion as of 31 December 2025 from AED 14.11 billion at the end of 2024.
Moreover, total connected capacity increased by 19% year-on-year (YoY) to 1.57 million Refrigeration Tons (RT) in 2025, driven by strong organic expansion and acquisitions.
EBITDA increased by 1% YoY to AED 1.27 billion, with a margin of 51.6%, supported by operating leverage and efficiencies.
Tabreed’s Chairman, Bakheet Al Katheeri, said: “2025 was a transformational year for Tabreed, marked by major strategic steps that have strengthened our platform for both the medium and long term. The addition of PAL Cooling and the Palm Jebel Ali concession have deepened our presence in core markets and expanded the scale at which we operate.”
Al Katheeri noted: “Across the business, our teams continued to deliver reliably for customers while investing in the systems and infrastructure that will support the company’s next phase of growth.”
The Chairman concluded: “As a national champion in district cooling, we are proud to support the UAE’s energy efficiency goals and remain focused on delivering capacity-led, concession-backed growth and creating lasting, sustainable value for our shareholders and stakeholders.”
Cash Dividends
The general assembly meeting if Tabreed will consider the board’s recommendation concerning a cash dividend distribution of 6.5 fils per share, representing AED 184.90 million for the second half (H2) of 2025.
The proposed dividend payout will bring the total cash dividend for 2025 to AED 369.90 million, equivalent to 13 fils per share or 13% of the Tabreed’s share capital. This represents a payout ratio of 71% of 2025 normalized net profit, aligned with historical levels, despite significant investment undertaken to secure long-term growth.
Outlook
Tabreed enters 2026 with a strong and stable core business, supported by long-term contracted capacity, high operational availability and disciplined financial management.
Capacity growth and margins are expected to remain within the company’s guided range, driven by continued real estate development, infrastructure expansion and delivery of new tourism destinations across the UAE and Saudi Arabia.
Meanwhile, demand fundamentals and customer relationships remain solid and the organic capex program continues to progress on schedule.
Looking ahead, medium-term growth will be reinforced by the integration and ramp-up of PAL Cooling and the buildout of Palm Jebel Ali, both expected to contribute positively as capacity comes online.
In the first nine months (9M) of 2025, Tabreed posted revenue worth AED 1.87 billion and net profits of AED 420 million.
