Dubai - Mubasher: National Central Cooling Company (Tabreed) registered 4.50% year-on-year (YoY) higher connected capacity at 1.38 million Refrigeration Tons (RT) as of 30 September 2025.
Group revenue increased by 1% YoY to AED 1.87 billion in the first nine months (9M) of 2025, reflecting the stability provided by fixed capacity revenue backed by long-term concession agreements.
Likewise, the EBITDA jumped by 5% YoY to AED 975 million, with margins expanding to 52.20%, according to the financial results.
Tabreed logged net profits amounting to AED 420 million in January-September 2025, compared to AED 425 million during the same period in 2024.
This mainly reflects higher finance costs on the recent Green Sukuk issuance at the end of the first quarter (Q1) of 2025, which refinanced bank debt raised during the low rate environment in 2020.
In 2025, Tabreed achieved two of the most significant strategic milestones in its history, including the acquisition of PAL Cooling Holding from Multiply Group on 13 October.
The DFM-listed company also finalized a landmark concession agreement with Dubai Holding Investments to provide district cooling services to Palm Jebel Ali.
Moreover, Tabreed settled its $500 million Trust Certificates due in 2025, originally issued in October 2018 and matured on 31 October 2025.
Bakheet Al Katheeri, Tabreed’s Chairman, said: “Tabreed is well placed to contribute meaningfully to the UAE’s energy efficiency and sustainability goals. Our market-leading position, built on long-term concessions and operational excellence, ensures we remain a key enabler of the country’s vision for a low-carbon, resource-efficient economy.”
Khalid Al Marzooqi, Tabreed’s CEO, commented: “This year has been about building for the next decade; investing in capacity, technology and execution so Tabreed can grow predictably and sustainably. We added record organic capacity, brought new plants online across our network, and advanced innovation through partnerships that sharpen efficiency and resilience.”
