The company "Tabreed" presented its financial report for the first nine months of 2024. The volume of consumption grew by 6% compared to the previous year, which led to an increase in net profit by 4%, reaching 462 million dirhams before tax payments. The net profit after tax deductions amounted to 425 million dirhams, while in the previous year for the same period the company earned 285 million dirhams.
The growth of consumption reached 1.85 billion dirhams due to increased demand and an additional 29 thousand tons of refrigeration through new pipelines over the past 12 months. The company noted that this positive growth reflected on profits for the first nine months of the current year, which grew to 933 million dirhams, which is 19 million dirhams more than in the previous year.
The third quarter of 2024 became a period of significant expansion of the company's activities, with the addition of 12,444 tons of refrigeration for new clients, compared to 4,646 tons in the first half of the year. In addition to increasing business at the local level, "Tabreed" continues its strategy of international expansion, adding volumes of supplies for new clients, including 3,000 tons of refrigeration in India and 1,500 tons of refrigeration in Egypt.
The company reported free cash flows amounting to 912 million dirhams over the past 12 months, exceeding the benchmark by 10%. The General Director of "Tabreed" Khalid Al-Marzouki expressed confidence in the high value for investors and partners of the company, supporting business growth both at the local and international levels. Given the growing demand for sustainable cooling solutions, he announced a steady commitment to achieving carbon neutrality across all operations of the company and studying market opportunities of the United Arab Emirates and the countries of the Soviet Union.
