Dubai – Mubasher: National Central Cooling Company (Tabreed) generated 4% year-on-year (YoY) higher revenues at AED 485.70 million in the first quarter (Q1) of 2026, versus AED 465.55 million.
Basic and diluted earnings per share attributable to the owners hit AED 0.02 as of 31 March 2026, compared to AED 0.04 in Q1-25, according to the interim consolidated financial results.
The net profits totaled AED 84.55 million in Q1-26, down YoY from AED 121.51 million.
Tabreed delivered resilient operational performance and strong cash generation during the quarter, underpinned by its long-term contracted business model, with capacity charges as the key profitability driver.
Total connected capacity increased 18% YoY to 1.57 million Refrigeration Tons (RT), demonstrating execution against the company’s expansion strategy and underpinning a highly visible revenue profile.
Chairman of Tabreed, Bakheet Al Katheeri, said: “Tabreed has started 2026 with a resilient performance, underpinned by the strength of our concession-backed business model, a diversified portfolio, and high revenue visibility.”
He added: “As demand for energy-efficient infrastructure accelerates, district cooling continues to play a critical role in sustainable urban development. Building on our progress in 2025, we are advancing our growth pipeline, integrating recent acquisitions, and delivering new capacity to support long-term expansion.”
In 2025, the DFM-listed company logged lower net profits after tax at AED 495.90 million, compared with AED 602.75 million in 2024.
