Abu Dhabi (Etihad)
Within the first quarter of 2024, the nationwide refrigeration firm “Tabreed” recorded a rise in income that reached 468 million dirhams, in comparison with income for the primary quarter of 2023, which got here to 464 million dirhams, based on monetary outcomes printed at present. with the corporate.
Earnings earlier than curiosity, taxes, depreciation and amortization elevated to 272 million dirhams in comparison with the identical interval in 2023, the place it reached 268 million dirhams, and internet earnings after adjusting non- recycling up 4% to achieve 122 million dirhams in comparison with 117 million dirhams for the primary quarter of the 12 months 2023.
The dad or mum firm’s internet earnings after tax amounted to 112 million dirhams, in comparison with 236 million dirhams, together with non-recurring earnings within the first quarter of 2023. Whereas the corporate recorded a rise of 9 % per 12 months in consumption quantity, pushed by new cooling connections because of the pure development the corporate has seen prior to now 12 months.
Tabreed’s income and EBITDA continued to realize a constructive development price within the first quarter of 2024 in comparison with the primary quarter of 2023.
EBITDA margin reached 58%, in comparison with 57% within the first quarter of 2023.
Tabreed’s environment friendly administration of working capital contributed to attaining a money conversion price of 90%, which confirms its excessive operational effectivity.
Khaled Abdullah Al Qubaisi, Chairman of the Board of Administrators of Tabreed, mentioned that with this steady upward pattern, Tabreed continues to launch strategic initiatives on the native and regional ranges to keep up its constructive momentum within the middle -time.
2024-05-15 10:05:58
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