Press release regarding financial results for the 1st QTR of 2026

Tabreed reported a net profit of AED 78 million for the first quarter of 2026, with results impacted by higher finance costs associated with an ongoing investment cycle and 2025 refinancing activities. The company expects these impacts to be temporary and normalize as new cooling capacity continues to ramp up.
Quarterly revenue grew 4% year-on-year to AED 486 million, driven by a 9% increase in consumption volumes to 338 million Refrigeration Ton Hours (RTh). EBITDA reached AED 285 million with a high margin of approximately 59%, reflecting operational efficiency and the stability of the company's fixed capacity charge model.
Total connected capacity increased 18% year-on-year to 1.57 million Refrigeration Tons (RT), primarily fueled by the integration of the PAL acquisition completed in late 2025 and 54.6k RT of organic growth. This expansion strengthens the company's long-term revenue visibility through its concession-backed business model.
The balance sheet remains robust with cash balances increasing 15% year-to-date to AED 756 million and access to an undrawn AED 1.2 billion Green Revolving Credit Facility. Financial stability was further supported by a reaffirmed Baa3