199.4 million profits of the half-year growth "Tabreed" of 11%

The company's net profit for the first half of fiscal year stands at 199.4 million, representing an increase of 11% over the first half of 2018, after excluding profit. the partial sale of the company owned by Tabreed in Saudi Arabia.

The Group's sales revenue grew by 3% to AED 671.9 million, compared with AED 650.7 million in the first half of 2018. The turnover of the main refrigeration unit has increased by 3% to AED 634.4 million, compared to AED 617.3 million in the first half of 2018.

Operational achievements

Total Group deliveries to GCC countries increased to 1,145,847 tonnes, of which 14,468 tonnes were added to new customers in the first half of this year (UAE 6,088 tonnes and Sultanate 8,400 tonnes) from Oman,.

Environmental achievements

656 million kilowatts of electricity were provided across the GCC, enough to power about 37,368 households. This energy saving resulted in the emission of 392,000 tonnes of carbon dioxide into the atmosphere, which is equivalent to reducing emissions by 85,279 vehicles per year.

Khalid Al Qubaisi, president of Tabreed, said: "The company has maintained good financial results in the first half of this year with net profit of 199.4 million AED, thanks to continued growth in its core cooling business, Confidence of its shareholders in its ability to generate significant returns We are determined to expand our business, create new growth opportunities and contribute to the achievement of global sustainable development goals.

Bader Al Lamki, chairman and CEO of Tabreed, said: "The company posted solid financial results in the first half, underpinned by a strong effort to grow its business and increase earnings. the success of the company's strategy, its high efficiency and flexibility in the management of its financial resources Al-Lamaki also mentioned a 12% increase in EBITDA and 11% of net profit compared with the first half of the previous year, after excluding profit from the partial sale of the company's stake in Tabreed Saudi Arabia.

"At the operational level, we have operated a new terminal in Oman, which will supply 8,400 tonnes of cooling systems to the Muscat Mall, which opened in April this year, bringing the number of stations to 75. We will continue to strengthen our activities by investing in our vast expertise and continuing to lead the

Million tons

Through 75 stations across the GCC, Tabreed currently provides more than one million tonnes of refrigeration systems to large local and regional projects.