Tabreed approves 5 fils interim dividend after H1 cash flow rises 40%

Dubai-based Tabreed has announced a 5 fils interim dividend for the first half of 2026, following a 40% increase in net operating cash flows to Dh632 million YoY. This represents 74% of the company's first-half net profit of Dh192 million. Revenue for the period amounted to Dh1.13 billion, up 2% from the previous year. The company's capacity increased by 15% year-on-year to 1.58 million refrigeration tons by the end of June, driven by portfolio expansion and completed projects.

Organic capacity rose by 4,500 refrigeration tons, while cooling consumption volumes reached one billion refrigeration ton hours. Dr Bakheet Al Katheeri, Tabreed's Chairman, emphasized the company's crucial role in the nation's utilities infrastructure and the strength of its core business, district cooling. The company's EBITDA reached Dh615 million, with a margin of 55%.

Net profit growth was affected by higher financing costs and additional interest expenses due to acquisition-related debt used to fund growth investments. Despite these costs, cash generation strengthened, with net operating cash flows increasing 40%. Tabreed maintains investment-grade credit ratings from Moody's and Fitch. The company plans to continue focusing on its UAE market, with a pipeline of potential projects being managed according to customer delivery schedules.