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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  National Central Cooling Co PSC    TABREED   AEN000501017

NATIONAL CENTRAL COOLING CO PSC (TABREED)
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Tabreed acquires 50% stake in Reem Island cooling provider from Aldar

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03/13/2018 | 06:31pm CEST

Tabreed acquires 50% stake in Reem Island cooling provider from Aldar

Aldar Properties ALDAR 0.94% 2.15 0.02

Tabreed TABREED -1.14% 1.74 -0.02

Dubai – Mubasher: National Central Cooling Company (Tabreed) on Tuesday announced the acquisition a 50% stake in S&T Cool District Cooling Company from Aldar Properties.

Following the completion of the acquisition, Tabreed will own 100% of S&T, the UAE’s leading district cooling utility said in a filing to the Dubai Financial Market (DFM).

S&T, the major district cooling provider on Reem Island in Abu Dhabi, has a connected capacity of over 31,500 refrigeration tonnes, Tabreed added.

The deal, valued at AED 348 million, will provide provides cooling to prominent landmarks on Reem Island’s skyline such as Sun & Sky Towers, Gate Towers, The Arc and Shams Boutik mall, the DFM-listed company highlighted.

Given that Tabreed posted a net profit of AED 109.7 million ($29.86 million) for the fourth quarter of 2017, versus AED 98.1 million ($26.7 million) in Q4-16.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ALDAR PROPERTIES PJSC 0.00% 1.78 End-of-day quote.-18.64%
NATIONAL CENTRAL COOLING CO PSC -0.63% 1.58 End-of-day quote.-15.93%
ST CORP 1.62% 2136 End-of-day quote.-22.02%
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Latest news on NATIONAL CENTRAL COOLING C
08/21NATIONAL CENTRAL COOLING PSC : Tabreed’s shareholders to consider raising ..
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08/02NATIONAL CENTRAL COOLING PSC : Tabreed’s H1 2018 Net Profit Increases 10% ..
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05/24Saudi Tabreed's unit awards cooling scheme contract to SNC-Lavalin
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05/03NATIONAL CENTRAL COOLING PSC : IDB Fund II acquires stake in Saudi Tabreed
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04/26NATIONAL CENTRAL COOLING PSC : Tabreed's net profit up 3% in Q1
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Financials (AED)
Sales 2018 1 500 M
EBIT 2018 463 M
Net income 2018 430 M
Debt 2018 3 007 M
Yield 2018 5,28%
P/E ratio 2018 10,37
P/E ratio 2019 9,49
EV / Sales 2018 4,88x
EV / Sales 2019 4,38x
Capitalization 4 318 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 2,42  AED
Spread / Average Target 52%
EPS Revisions
Managers
NameTitle
Jasim Husain Thabet 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
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