Press releases, Reports & Disclosures for Emirates Central Cooling Systems Corporation PJSC

Empower, the world's largest district cooling services provider, has launched its annual summer campaign titled 'Set at 24°C and Save' to encourage its 136,000+ customers to reduce energy consumption and cooling bills. This initiative aims to promote sustainability practices by urging customers to set their air conditioners to 24°C in Auto mode, which can save energy, lower bills, and protect the environment. Empower's CEO, Ahmad bin Shafar, emphasized the importance of rationalizing energy use, especially during the summer, to preserve natural resources and contribute to Dubai's goal of becoming a global hub for the green economy and achieving the lowest carbon footprint by 2050.

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, announced that it is fully prepared to meet the high demand for its services during the summer season in Dubai. The company has implemented sustainable and responsible methods for major and routine maintenance, ensuring efficient service delivery across residential, commercial, and other buildings. Empower serves over 1,540 buildings in various sectors and has expanded its infrastructure, including pipeline networks and Thermal Energy Storage (TES) systems, to handle peak demand. CEO Ahmad bin Shafar highlighted the company's readiness through its state-of-the-art Command Control Centre (CCC) and innovative technologies that reduce electricity consumption by up to 50% compared to traditional cooling systems. Empower aims to support Dubai's sustainable development goals by reducing electricity and water consumption by 30% by 2030.

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, recently celebrated its 20th anniversary and honored long-serving employees at its Annual Staff Gathering in Dubai. The event was attended by over 800 employees and members of senior management. CEO Ahmad bin Shafar praised the dedication of the work teams and credited them for Empower's global success. He also highlighted the company's key achievements, including record revenue, growth of its project portfolio, and the expansion of its distribution network across Dubai. He further mentioned the development of AI-based next-generation district cooling plants, which aim to transform the global district cooling industry.

The Dubai Supreme Council of Energy (DSCE) has recognized Emirates Central Cooling Systems Corporation (Empower) as the leading district cooling company in its Demand Side Management Recognition Program. The award was given in recognition of Empower's contributions to energy and water efficiency, commitment to circular economy principles, and innovations for a greener future. Empower's CEO, Ahmad bin Shafar, accepted the award and highlighted the company's operational milestones during 2023, its ongoing expansion efforts, and its commitment to sustainability. Furthermore, Empower has reached a total connected capacity of 1.52 million refrigeration tons and a contracted capacity of 1.69 million RT by the end of Q1 2024.

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, provides cooling services to 21% of Dubai's hotels and hotel apartments, up from 19% the previous year. The company's services are contributing to the reduction of carbon emissions in alignment with Dubai's sustainability and zero emissions targets. Empower's services are in high demand from developers and operators of new hotels due to their compliance with international standards and use of innovative, AI-powered technologies. The company's efforts are consistent with Dubai's vision of a green economy and sustainable development. Empower's CEO, Ahmad bin Shafar, emphasized the company's early investments in AI-based infrastructure and strong support for the Arab Travel Market 2024's focus on sustainability and innovation in the travel industry.

Emirates Central Cooling Systems Corporation (Empower) has reported a Q1 2024 revenue of AED 538 million, marking an 8.8% YoY growth. The company's EBITDA for the same period is AED 313 million, up by 8.2%, and its pre-tax net profit is AED 182 million, an 8.6% increase. The net profit post-tax totaled AED 166 million. Empower also revealed a consolidated revenue of AED 3.1 billion between April 2023 and March 2024, a 9.2% growth compared to the same period the previous year. The company's EBITDA for the last twelve months was AED 1.5 billion, a 6.2% increase. The growth is attributed to the increased demand for Empower's services in various Dubai projects and the recovery of diverse economic activities, particularly in the real estate sector.

The text refers to the interim condensed consolidated financial statements of the Emirates Central Cooling Systems Corporation P.J.S.C for the three-month period ending on 31 March 2024.

Emirates Central Cooling Systems Corporation (Empower) has signed an agreement with Al Habtoor Group to supply district cooling services to the Al Habtoor Tower. The service will provide approximately 7,200 refrigeration tons, equivalent to 75% of the peak cooling capacity of the Burj Khalifa. The Al Habtoor Tower, which is set to be the world's largest residential building upon completion, will house over 5,000 residents. The cooling services will be supplied by the beginning of the second quarter of 2025. The tower, located along Sheikh Zayed Road, will feature 1,701 residential units, retail spaces, and various amenities. The project will be built by China Railway 18th Bureau Group Ltd and served from Empower's Business Bay district cooling plant.