Empower Reports AED540 Million in Q1 Revenue as Expansion Drives Steady Growth
The company also reported AED145 million in net profit after tax and AED297 million in EBITDA, underlining its sustained performance amid ongoing expansion.
CEO Ahmad Bin Shafar attributed the results to Empower's strategic growth and strong demand for eco-friendly cooling services across Dubai's real estate sector. 'Our continued expansion and high service standards have positioned us as the preferred provider for developers and property owners,'
he said.
The first quarter saw Empower sign 46 new contracts to deliver over 43,000 refrigeration tons (RT), pushing its total contracted capacity beyond 1.81 million RT. The company also added more than 15,000 RT in connected capacity, with 19 new buildings integrated into its network.
Notable agreements included supplying The Island Resort with 23,853 RT starting Q1 2028, Uptown Dubai with 24,675 RT, and the Palm Gateway project with 9,470 RT from Q2 2026.
Empower processed over 224,000 online bill payments in Q1, a 7% year-on-year increase, and saw a 22% rise in new customer registrations. The company also approved more than 11,000 NOC service requests, up 8% from last year.
On the global stage, Empower participated in the IDEA Campus Energy 2025 Conference in Boston, where Bin Shafar met with IDEA leadership to discuss Dubai's upcoming hosting of the District Cooling Conference.
For the 12-month period ending March 2025, Empower reported AED3.26 billion in revenue, up 6% year-on-year, and AED1.53 billion in EBITDA. The company also approved a second-half 2024 dividend of AED437.5 million.
News Source: Emirates News Agency
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