425 million dirhams, Tabreed’s net profits in 9 months

Yesterday, Tabreed announced its financial results for the first nine months of 2024, as it achieved a significant growth in consumption volume per year by 6%, which contributed to an increase in net profits after items non-recurring change of the company. , and before taxes were deducted by 4%. 2023.

Revenue rose to 1.85 billion dirhams, driven by increased consumption through the addition of 29,000 refrigerated tons of new connections in the past 12 months.

The company said in a statement that this positive growth was reflected in profits in the first nine months of this year before interest, taxes, depreciation and amortization, which rose to 933 million dirhams, the compared to 914 million dirhams for the same period last year, and profits before interest, taxes and depreciation also stable.

The company indicated that the third quarter of 2024 saw a significant expansion in its operations by adding 12,444 refrigeration tons of connections to new customers, compared to 4,646 refrigeration tons in the first half of the year, the explaining that in addition to the growth of business at the local level, “Tabreed” continued to implement its international expansion strategy as well, as it sent operating loads through connections with new customers, including 3,000 tons of refrigeration in India, and 1,500 tons. Chilling in Egypt.

The company recorded free cash flows of AED 912 million over the past 12 months, representing a return of over 10%. The CEO of Tabreed, Khaled Al Marzouqi, said: “The company once again proves the high value it provides to investors and partners, through the growth of its business at local and international levels, especially due to the growing demand for sustainable cooling solutions. .”

He added: “We are committed to achieving carbon neutrality in all our operations, while we continue to explore opportunities in the UAE and the Gulf Cooperation Council countries.”