Post by : Badri Ariffin

NMDC Energy has unveiled its financial performance for the first quarter of 2026, showcasing robust growth and resilient operations despite challenges in the region.

The company achieved a remarkable 33% increase in revenue year-over-year, totaling AED5 billion in Q1 2026. This growth was largely attributed to the effective management of its substantial project backlog. The net profit for this quarter reached AED80 million, highlighting a careful financial strategy in the current regional climate.

The project backlog for NMDC Energy expanded to AED35.3 billion, giving strong prospects for future earnings. Additionally, a project pipeline worth AED67 billion was reported by the quarter's end, reflecting ongoing business opportunities.

Domestic operations within the UAE remained pivotal, contributing 74% to total revenue, while international markets represented 26%. This underscores the company’s diversified revenue framework.

NMDC Energy finished the quarter with a solid cash position of AED3.5 billion, demonstrating its capacity to navigate market fluctuations while pursuing growth ventures.

Chairman Mohamed Hamad Almehairi remarked that the company’s results reflect the UAE’s economic resilience and the leadership's efforts to manage regional uncertainties. He emphasized government initiatives that have fostered stability and confidence across key sectors.

CEO Ahmed Salem Al Dhaheri stated that disciplined execution, sustained operations, and fiscal prudence were central to the quarter’s strategy. He affirmed that NMDC Energy successfully maintained project momentum and effectively translated backlog into revenue despite a tough market.

Looking forward, NMDC Energy intends to closely monitor regional developments. With a robust backlog and a promising project pipeline, the company is poised for a successful 2026, aligning with the UAE’s long-term economic objectives.

#world news #Global News #Business News #Business & economy