Post by : Bianca
Haleem
In its financial overview for the first quarter of 2026, NMDC Energy has demonstrated robust growth amidst regional challenges.
The company reported a remarkable 33% year-over-year revenue increase, totaling AED5 billion in Q1 2026, primarily driven by the solid execution of its substantial project backlog. The net profit recorded for this quarter was AED80 million, showcasing a careful and strategic financial approach in the prevailing regional context.
The project backlog of NMDC Energy expanded to AED35.3 billion, ensuring significant visibility for future earnings. Additionally, the project pipeline at the quarter's end stood at AED67 billion, indicating ongoing business prospects.
Operations within the UAE emerged as the primary revenue source, contributing 74% of total income, while international endeavors made up 26%. This diversification underscores the company's balanced income streams.
Financially, NMDC Energy solidified its position with a cash reserve of AED3.5 billion at quarter-end, which fortifies its capacity to navigate market volatilities while pursuing growth initiatives.
Chairman Mohamed Hamad Almehairi emphasized that the company's success mirrors the robustness of the UAE's economy, attributing stability in essential sectors to government initiatives.
CEO Ahmed Salem Al Dhaheri highlighted the firm’s commitment to disciplined operations, continuous execution, and financial caution during this period. He noted the effective conversion of backlog to revenue amid a tough operating landscape.
Looking forward, NMDC Energy intends to stay vigilant regarding regional dynamics, and with a strong backlog and proven execution strategies, it positions itself favorably for the remainder of 2026, aligning with the UAE's broader economic aspirations.
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