Tabreed reports revenue of $663mln in 2024
The company announced that EBITDA increased by 5 percent year-on-year to AED1.252 billion, with an improved margin of 51 percent, while net profit after tax stands at AED570 million, up 32 percent compared to AED431 million in 2023.
Increased revenue was mainly driven by growth in consumption volumes, which increased by 5 percent to 2.66 billion refrigeration ton hours (RTH). Connected capacity increased by 23,756 Refrigeration Tonnes (RT), bringing Tabreed's total connected capacity to 1.325 million RT.
Growth in connected capacity was largely on account of expansion in existing concessions and commissioning of two new greenfield plants in the UAE and Oman, respectively, during 2024, while expanding capacity at its existing plants, including in international markets of India and Egypt, to meet the growing demand from customers.
Tabreed's Board of Directors has recommended a dividend payment of 15.5 fils per share in cash. Over the past five years, the dividend per share paid by Tabreed has increased at a compounded annual growth rate of 8 percent.
New connections totalling 23,576 RT were added to Tabreed's portfolio of 92 plants during 2024, in the UAE, Saudi Arabia, Oman, Egypt and India.
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