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Empower said in a statement that its net profit after tax climbed 16.2 percent in the first six months of 2026 compared with the same period a year earlier while profit before tax also advanced 16.2 percent to AED514 million. The district cooling provider recorded revenue of AED1.519 billion during the period, reflecting a 4.5 percent rise year on year as demand for its services continued to expand across Dubai. EBITDA increased 7.5 percent to AED773 million, underscoring improved operational performance amid the addition of new customers and infrastructure.
According to the announcement, Empower signed 61 new contracts carrying a combined capacity of 73,415 refrigeration tons in the first half. Total contracted capacity reached 2.02 million RT while connected capacity stood at 1.71 million RT after an addition of 51,000 RT during the period. The company now provides services to 1,796 buildings, reinforcing its position as the largest district cooling operator in the emirate.
The statement noted that Empower awarded a contract for construction of its fifth district cooling plant in Business Bay with a planned capacity of 44,000 RT. It inaugurated a central control centre at its headquarters and opened a new Customer Happiness Centre at the Al Jadaf facility to enhance service delivery. These steps form part of broader efforts to scale operations in line with Dubai’s urban development projects.
A MarkNtel Advisors assessment found that the UAE district cooling market stood at 4 million tons in 2024 and is forecast to exceed 5.68 million tons by 2030 while expanding at a compound annual growth rate of 6.02 percent. Empower maintains an approximately 80 percent share of Dubai’s district cooling market, its investor materials show. The firm’s results come as the sector benefits from sustained real estate activity and official emphasis on energy-efficient cooling technologies.
The release indicated that Empower projects full fiscal year 2026 revenue at AED3.49 billion, representing 3.7 percent growth, with EBITDA expected to reach AED1.70 billion for an 8.2 percent increase. Its annual general meeting in March approved distribution of AED437.5 million in dividends, equivalent to 4.375 fils per share. The company also secured two gold awards at the IDEA 2026 global conference.
In addition, Empower signed a memorandum of understanding to advance international cooperation in district cooling, the statement said. It participated in ASHRAE technical meetings and contributed to a UNEP webinar focused on sustainable cooling practices across regions. These engagements highlight the provider’s role in shaping industry standards beyond local operations.
