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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  National Central Cooling Company PJSC    TABREED   AEN000501017

NATIONAL CENTRAL COOLING COMPANY PJSC

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National Central Cooling PSC : Tabreed Concludes its Participation in UN Climate Action Summit 2019

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10/01/2019 | 02:49am EST

The National Central Cooling Company PJSC 'Tabreed,' the global leading UAE-based district cooling developer, participated in the United Nations Climate Action Summit 2019 and related side events, which took place in New York City, USA from 21 - 25 September 2019.

The summit brought together international stakeholders from the public and private sectors under the theme 'A Race We Can Win. A Race We Must Win' to discuss means of accelerating actions to implement the Paris Agreement on Climate Change by focusing on energy transition, climate finance and carbon pricing, industry transition, nature-based solutions, infrastructure, cities and local action, resilience and adaptation.

Through its participation in the 'We Will: Efficient, Clean Cooling for All' side event, Tabreed demonstrated its leading role in providing environmentally friendly district cooling solutions that support sustainability initiatives and strategies at the local, regional and global levels and also proved its significant contribution to the UN Sustainable Development Goals, the UAE Energy Strategy 2050 and the primary objectives of the National Climate Change Plan adopted by the UAE Ministry of Climate Change and Environment (MOCCAE).

Bader Al Lamki, Tabreed's Chief Executive Officer, said: 'Climate change is a universal challenge and a defining issue of our time that requires innovative technologies and collaboration between governments and the private sector to address. 2018 was the fourth-warmest year on record, highlighting the fact that sustainable cooling solutions have become an essential necessity in the face of these climate challenges. We need to provide sustainable cooling at speed and on a large scale.'

'Our participation in the UN Climate Action Summit 2019 underscores Tabreed's leadership in the district cooling industry for over 20 years, through its innovative and environmentally friendly district cooling solutions that contribute to achieving the sustainable development goals. We were pleased to have the opportunity to meet new business partners and discuss industry best practices, innovative solutions and the latest trends within the sector,' added Al Lamki.

On the side-lines of the summit, Tabreed also participated in the launch of the Cool Coalition - the global network that connects over 80 partners from the private sector, government, cities, international organizations, finance, academia and civil society.

Tabreed is committed to investing in cooling efficiency innovations in seven countries, including India, where demand is growing and a significant opportunity exists for energy savings such as those delivered by district cooling. In 2018 alone, Tabreed contributed to saving 1.97 billion kilowatt/hours, preventing the release of 986,000 metric tons of CO2.

For over 20 years, Tabreed remains the partner of choice for organizations across the world in providing environmentally friendly district cooling solutions that support the region's energy sustainability strategy. With 75 district cooling plants, Tabreed currently delivers over 1.1 million refrigeration tons to key developments, including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Abu Dhabi's Al Maryah Island, Yas Island, Dubai Metro, Dubai Parks and Resorts, Bahrain Financial Harbour in Manama, Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Disclaimer

Tabreed - National Central Cooling Company PJSC published this content on 01 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2019 06:47:00 UTC

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Financials (AED)
Sales 2019 1 544 M
EBIT 2019 555 M
Net income 2019 458 M
Debt 2019 2 726 M
Yield 2019 5,51%
P/E ratio 2019 11,1x
P/E ratio 2020 10,9x
EV / Sales2019 4,90x
EV / Sales2020 4,71x
Capitalization 4 834 M
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Number of Analysts 5
Average target price 2,23  AED
Last Close Price 1,78  AED
Spread / Highest target 34,8%
Spread / Average Target 25,5%
Spread / Lowest Target 18,0%
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Managers
NameTitle
Bader Saeed Mohammedd Salem Al-Lamki Chief Executive Officer
Khaled Abdulla Juma Al-Qubaisi Chairman
Jean-Francois Chartrain Chief Operating Officer
Stephen John Ridlington Chief Financial Officer
Adai Masoud Al-Zarrai Vice President-Information Technology