Dubai - Mubasher: The net profits attributable to the owners of Emirates Central Cooling Systems Corporation (Empower) totalled AED 1 billion in 2022, an annual growth of 7% from AED 935.86 million.
Empower, formerly known as Emirates Central Cooling Systems Corporation, generated revenues of AED 2.79 billion last year, higher by 13.30% than AED 2.46 billion in the January-December 2021 period.
The basic and diluted earnings per share (EPS) attributable to the equityholders went up to AED 0.10 in 2022 from AED 0.09 in 2021, according to the consolidated financial results.
Meanwhile, the total assets jumped to AED 9.65 billion as of 31 December 2022 from AED 9.54 billion a year earlier.
Dividends for H2-22
The UAE-based firm suggested the distribution of AED 425 million as cash dividends for the second half (H2) of 2022.
Ahmad bin Shafar, CEO of Empower, highlighted that the company will pay out an annual dividend of AED 850 million for the first two years, which is subject to the approvals of the board and general assembly.
Bin Shafar indicated: "The successes achieved during 2022 are unprecedented, as the company’s portfolio is growing at an accelerated pace serving a diversified portfolio of projects."
In the first nine months (9M) of 2022, the DFM-listed company achieved net profits attributable to the shareholders worth AED 731.96 million, compared to AED 660.10 million in the year-ago period.
Revenues enlarged to AED 2.07 billion in 9M-22 from AED 1.80 billion in 9M-21, whereas the basic and diluted EPS attributable to the owners surged to AED 0.73 from AED 0.66.
