Latest news with #AED540
Hi Dubai
12-05-2025
- Business
- Hi Dubai
Empower Reports AED540 Million in Q1 Revenue as Expansion Drives Steady Growth
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling provider, posted AED540 million in revenue for Q1 2025, a slight increase of 0.4% compared to the same period last year. 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
Hi Dubai
05-05-2025
- Business
- Hi Dubai
TECOM Group Records 21% Revenue Surge in Q1 2025 as Profit Climbs to AED361 Million
TECOM Group reported a robust start to 2025, with first-quarter revenues climbing 21 percent year-on-year to AED680 million and net profit rising 23 percent to AED361 million, driven by strong operational performance across its portfolio. The company's EBITDA grew by 23 percent to AED540 million, with the EBITDA margin improving to 79 percent. The growth reflects increased demand across its commercial, industrial, and land leasing segments, bolstered by a six percent rise in its customer base, which now exceeds 12,000. CEO Abdulla Belhoul credited the performance to the strength of TECOM's diverse asset base and its alignment with Dubai's push to grow its knowledge-based economy. 'We continue to attract global companies and world-class talent across six strategic sectors,' he said. The quarter also saw significant developments across TECOM's districts. Epson launched an Innovation Centre at Dubai Production City, and Fabtech Engineering at Dubai Industrial City signed a strategic agreement with Groupe M to boost innovation in nuclear and sustainable energy. Dubai Internet City, a key TECOM asset, was found to contribute 65 percent of the emirate's tech sector GDP, according to a study conducted with Accenture. Dubai Science Park welcomed biopharma leader MSD and hosted the region's first Longevity Science Semester Symposium. Dubai Design District cemented its global fashion status by showcasing the Autumn/Winter 2025–26 edition of Dubai Fashion Week. Meanwhile, the third edition of The Good Store initiative brought together over 137,000 professionals for charitable giving during Ramadan and Eid. Belhoul noted that TECOM's performance reinforces its role in shaping Dubai's future economy while delivering long-term value to shareholders. News Source: Emirates News Agency
Zawya
05-05-2025
- Business
- Zawya
Tecom Q1 revenue up 21% to $185mln
Tecom Group, a leading developer and operator of specialised business districts across Dubai, has announced a 21% year-on-year (YoY) increase in revenues to AED680 million ($185.13 million) for the first quarter of 2025, while net profit grew by 23% YoY to reach AED361 million during the period. The group's exceptional performance highlights the strength of its diverse asset portfolio and the success of its long-term strategy to unlock sustainable growth by harnessing Dubai's economic momentum, which is elevating the city's appeal as a global business and investment hub. Abdulla Belhoul, Chief Executive Officer of Tecom Group, said: 'Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai's and the UAE's knowledge economy as we attract global companies and world-class talent across six strategic sectors. 'Our impressive Q1 2025 performance reinforces Tecom Group's leading role in curating Dubai's most dynamic and pro-growth business districts as well as our strategic roadmap for sustainable growth. Reflecting Dubai's rising profile as the destination of choice for global investors and entrepreneurial talent, these results highlight how our ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value.' Q1 2025 Financial Highlights • Strong performance across all business segments and the group's strategic roadmap for expansion and sustainable growth led to revenues of AED680 million, representing YoY growth of 21%. • Reflecting revenue growth and improved operational performance across all areas of the business, EBITDA increased by 23% YoY to AED540 million, while EBITDA margin grew to 79%. • Net profit increased by 23% YoY to AED361 million, while – led by improved collections and the strong performance of income-generating assets – funds from operations (FFO) noted 16% YoY growth to AED480 million. Key Operational Activities • Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. Demonstrating the company's commitment to innovation and sustainability, the centre will provide local insights to Epson's global teams for the development of next-generation technologies. • Dubai Internet City revealed its contribution towards 65% of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and launched during Step Dubai, which the district hosted as a Strategic Partner in February. • In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE's nuclear and sustainable energy sectors. Dubai Industrial City attracted more than AED 350 million of investments from food and beverage (F&B) customers in 2024, the district announced during the landmark 30th edition of Gulfood, the world's largest annual F&B sourcing event, this February. • Dubai Science Park welcomed biopharmaceutical giant MSD in January, which strengthened its regional commitment with the launch of a new office focused on the co-creation of health and well-being solutions. Dubai Science Park also hosted the Middle East's first Longevity Science Semester Symposium in February to discuss and promote advancements in healthcare innovation. • Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai's position as a global fashion destination. • Tecom Group launched the third edition of The Good Store in partnership with Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of more than 137,000 professionals across Dubai. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Tecom Q1 revenue up 21% to $185m
Tecom Group, a leading developer and operator of specialised business districts across Dubai, has announced a 21% year-on-year (YoY) increase in revenues to AED680 million ($185.13 million) for the first quarter of 2025, while net profit grew by 23% YoY to reach AED361 million during the period. The group's exceptional performance highlights the strength of its diverse asset portfolio and the success of its long-term strategy to unlock sustainable growth by harnessing Dubai's economic momentum, which is elevating the city's appeal as a global business and investment hub. Abdulla Belhoul, Chief Executive Officer of Tecom Group, said: 'Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai's and the UAE's knowledge economy as we attract global companies and world-class talent across six strategic sectors. 'Our impressive Q1 2025 performance reinforces Tecom Group's leading role in curating Dubai's most dynamic and pro-growth business districts as well as our strategic roadmap for sustainable growth. Reflecting Dubai's rising profile as the destination of choice for global investors and entrepreneurial talent, these results highlight how our ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value.' Q1 2025 Financial Highlights • Strong performance across all business segments and the group's strategic roadmap for expansion and sustainable growth led to revenues of AED680 million, representing YoY growth of 21%. • Reflecting revenue growth and improved operational performance across all areas of the business, EBITDA increased by 23% YoY to AED540 million, while EBITDA margin grew to 79%. • Net profit increased by 23% YoY to AED361 million, while – led by improved collections and the strong performance of income-generating assets – funds from operations (FFO) noted 16% YoY growth to AED480 million. Key Operational Activities • Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. Demonstrating the company's commitment to innovation and sustainability, the centre will provide local insights to Epson's global teams for the development of next-generation technologies. • Dubai Internet City revealed its contribution towards 65% of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and launched during Step Dubai, which the district hosted as a Strategic Partner in February. • In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE's nuclear and sustainable energy sectors. Dubai Industrial City attracted more than AED 350 million of investments from food and beverage (F&B) customers in 2024, the district announced during the landmark 30th edition of Gulfood, the world's largest annual F&B sourcing event, this February. • Dubai Science Park welcomed biopharmaceutical giant MSD in January, which strengthened its regional commitment with the launch of a new office focused on the co-creation of health and well-being solutions. Dubai Science Park also hosted the Middle East's first Longevity Science Semester Symposium in February to discuss and promote advancements in healthcare innovation. • Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai's position as a global fashion destination. • Tecom Group launched the third edition of The Good Store in partnership with Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of more than 137,000 professionals across Dubai. - TradeArabia News Service
Zawya
02-05-2025
- Business
- Zawya
TECOM Group's Q1 2025 net profit rises by 23%
DUBAI - TECOM Group announced a 21 percent year-on-year (YoY) increase in revenues to AED680 million for the first quarter of 2025, while net profit grew by 23 percent YoY to reach AED361 million during the period. Reflecting revenue growth and improved operational performance across all business areas, EBITDA increased by 23 percent YoY to AED540 million, while EBITDA margin grew to 79 percent. Abdulla Belhoul, Chief Executive Officer of TECOM Group, said, 'Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai's and the UAE's knowledge economy as we attract global companies and world-class talent across six strategic sectors." He added that the impressive Q1 2025 performance reinforces TECOM Group's leading role in curating Dubai's most dynamic and pro-growth business districts and the company's strategic roadmap for sustainable growth. These results highlight how TECOM's ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value. The first quarter of 2025 recorded strong operational performance, highlighted by a six percent YoY increase in the number of customers, which exceeded 12,000, driven by the sustained demand for commercial and industrial assets as well as land leasing. Moreover, Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. The centre will provide local insights to Epson's global teams for the development of next-generation technologies. Also, Dubai Internet City revealed its contribution towards 65 percent of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture. In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE's nuclear and sustainable energy sectors. Dubai Industrial City attracted more than AED350 million of investments from food and beverage (F&B) customers in 2024. Dubai Science Park welcomed biopharmaceutical giant MSD in January. The Park also hosted the Middle East's first Longevity Science Semester Symposium in February. Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai's position as a global fashion destination. TECOM Group launched the third edition of The Good Store in partnership with the Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of more than 137,000 professionals across Dubai.
