UAE-based National Central Cooling Company (Tabreed) today (May 15) reported solid performance for the first-quarter with a revenue of AED486 million ($132.3 million) and a net profit of AED78 million ($21.2 million)

Announcing the results for the three-month period ended March 31, 2026, Tabreed said its operational performance and cash generation remained resilient during the quarter, supported by its long-term contracted business model, with capacity charges continuing to drive profitability.

The district cooling company pointed out that the cash balances rose 15% year-to-date to AED756 million, reflecting stable underlying cash flows.

Tabreed added it had access to an undrawn AED1.2 billion green revolving credit facility and faced no near-term debt maturities.

On the Q1 performance, Chairman Bakheet Al Katheeri said the company's performance was underpinned by its concession-backed business model, diversified portfolio and high revenue visibility.

"As demand for energy-efficient infrastructure accelerates, district cooling continues to play a critical role in sustainable urban development," he stated.

According to Tabreed, the company was progressing with its growth pipeline, integrating recent acquisitions and adding new capacity to support long-term expansion.

At the company’s annual general meeting held recently, the shareholders approved a final dividend of 6.5 fils per share for the second half of 2025  on March 25, bringing the full-year dividend to 13 fils per share. The final dividend was paid in April.

Tabreed said its dividend payout ratio reached 79% of net profit in 2025, reflecting the board’s focus on shareholder returns while continuing to invest in infrastructure growth.-TradeArabia News Service