Group revenue increased by 14.5 per cent to Dhs1.741bn (2019: Dhs1.52bn), while EBITDA rose by 27 per cent to Dhs970m (2019: Dhs763m). By the end of calendar year 2020, it had added 39.6k refrigeration tonnes (RT) of organic capacity growth and 181.5k RT of inorganic capacity additions, resulting in the delivery of 1,403,819 RT of cooling capacity. Tabreed currently delivers over 1.404 million RT to key developments, including the Burj Khalifa, Dubai Opera, The Dubai Mall, Sheikh Zayed Grand Mosque, Al Maryah Island, Yas Island, Dubai Metro, the Bahrain Financial Harbour and the Jabal Omar Development in Makkah.
A return of value to shareholders for 2020 through the combination of a cash dividend of 5.75 fils per share plus a bonus share issue of 1 share for every 45 shares held. This equates at current share price to roughly 11.5 fils/share and represents a 10 per cent increase over the 2019 dividend. In 2020, Tabreed acquired the world’s largest district cooling scheme in Downtown Dubai with a total capacity of 235,000RT and two concessions with a total capacity of 88,000RT in Saadiyat Island.