External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Emirates Central Cooling Syste / Equity Bottom-Up

Emirates Central Cooling Syste (EMPOWER UH)

<ul><li>Empower reported 2Q24 attributable profit of AED221mn, down 6% YoY (+35% QoQ). The result was in line with our estimates.</li><li>The 1H24 dividend of AED0.0425/sh. is expected to be paid in 2H24.</li><li>While the gross profits grew 8% YoY, 19% higher financial charges and tax expense in 2Q24 resulted in YoY decline in profits. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Empower reported 2Q24 attributable profit of AED221mn, down 6% YoY (+35% QoQ). The result was in line with our estimates.The 1H24 dividend of AED0.0425/sh. is expected to be paid in 2H24.While the gross profits grew 8% YoY, 19% higher financial charges and tax expense in 2Q24 resulted in YoY decline in profits. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Empower - 2Q24 Attributable Profit Down 6% YoY (+35% QoQ) To AED221mn, in Line with Estimates