Tabreed Reports AED 115 Million Net Profit And Strategic Developments In Q1 2025

Tabreed has announced its financial outcomes for the first quarter of 2025, showing a rise in both EBITDA and net profit compared to the same period last year. The company's EBITDA rose by 4% to AED283 million, with a margin improvement to 61%. Meanwhile, net profit after tax increased by 3% to AED115 million in Q1 2025 compared to Q1 2024.

During this period, Tabreed made notable announcements that could enhance its long-term growth prospects. One significant development was raising US$700 million through a Green Sukuk issuance at a competitive profit rate of 5.279%. This attracted strong international investor interest, with proceeds used for refinancing under Tabreed’s Green Finance Framework.

The company also declared a cash dividend of 15.5 fils per share for 2024, offering an attractive yield of 5.6% based on a share price of AED2.76 as of May 12, 2025. This reflects Tabreed's robust financial standing, enabling it to invest in growth while providing returns to shareholders through dividends.

Tabreed's Chairman, Dr. Bakheet Al Katheeri, stated, "The Q1 results demonstrate a company with stability and dependability at its core. While this is entirely true, behind the scenes there is incredible drive and energy facilitating substantial expansion in key markets, Dubai being a prime example. Our recent landmark deal with Dubai Holding Investments perfectly encapsulates the spirit of Tabreed, which prizes strategic partnerships with organisations aligned with our values and objectives."

In the first quarter, Tabreed added 4,599 refrigeration tonnes of new customer connections within the UAE. The company anticipates further capacity additions in the coming months as part of its growth strategy.

Tabreed's steady financial performance and strategic initiatives underscore its commitment to sustainable long-term value creation. By focusing on strategic partnerships and expanding its portfolio, Tabreed aims to maintain its position as a leader in the district cooling industry while delivering consistent returns to shareholders.

With inputs from WAM