Photo Credit : WAM
NMDC Energy has reported a solid start to 2026, delivering strong financial results for the first quarter while maintaining steady operations across all projects despite a complex regional environment.
The company recorded revenues of AED5 billion in Q1 2026, marking a 33 percent increase compared to the same period last year. The growth was driven by continued progress across its extensive project backlog. Net profit reached AED80 million, reflecting what the company described as a cautious and disciplined financial approach.
NMDC Energy’s project backlog stood at AED35.3 billion at the end of the quarter, offering clear visibility on future revenue streams. The UAE remained the core market, contributing 74 percent of total revenues, while international operations accounted for 26 percent, highlighting a diversified business portfolio.
The company also reported a strong liquidity position, closing the quarter with AED3.5 billion in cash. This, it said, provides the flexibility to navigate market uncertainties while continuing to pursue growth opportunities.
Mohamed Hamad Almehairi, Chairman of NMDC Energy, said the results reflect the resilience of the UAE economy and the effectiveness of its leadership in maintaining stability amid regional challenges.
“Our performance underscores the strength of the UAE’s economic framework and its ability to ensure continuity and confidence across key sectors,” he said.
Chief Executive Officer Ahmed Salem Al Dhaheri added that the company remained focused on disciplined execution and operational efficiency throughout the quarter.
“We maintained project momentum and successfully converted backlog into revenue despite a challenging environment. This reflects the strength of our people, processes and long-term fundamentals,” he said.
Looking ahead, NMDC Energy said it remains optimistic about the rest of the year, supported by a strong project pipeline valued at AED67 billion. The company added it will continue to monitor regional developments while aligning its operations with the UAE’s long-term economic and energy strategies.
