NMDC Energy has unveiled its financial performance for the first quarter of 2026, showcasing robust growth amidst regional hurdles.
The firm achieved a remarkable 33 percent increase in revenue year-on-year, totaling AED5 billion in Q1 2026. This growth was primarily fueled by the effective management of its sizable project backlog. The net profit for this quarter reached AED80 million, demonstrating a careful and strategic financial stance in light of prevailing regional conditions.
The project backlog for NMDC Energy climbed to AED35.3 billion, offering promising prospects for future revenues. By the end of the quarter, the pipeline of projects was valued at AED67 billion, signifying ongoing business opportunities.
Operations in the UAE were the dominant revenue source, contributing 74 percent of total earnings, while international markets brought in the remaining 26 percent. This illustrates the company's well-rounded and diversified revenue streams.
The company concluded the quarter with a solid cash reserve of AED3.5 billion, bolstering its capacity to navigate market fluctuations while continuing to pursue growth initiatives.
Chairman Mohamed Hamad Almehairi remarked that the firm’s success reflects the UAE’s economic resilience and its leadership in managing regional issues. He emphasized that government actions have instilled stability and trust across crucial sectors.
CEO Ahmed Salem Al Dhaheri highlighted the firm’s commitment to disciplined execution, operational consistency, and financial responsibility throughout the quarter. He noted that NMDC Energy has adeptly sustained project momentum and transitioned its backlog into revenue, despite facing adversities.
Looking forward, NMDC Energy plans to remain vigilant regarding regional shifts. With a substantial backlog and a solid project pipeline coupled with proven operational capabilities, the company is poised for success throughout 2026, aligning with the UAE’s long-term economic and energy ambitions.
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