NMDC Energy reports $1.4bn revenue in Q1 2026

29/04/2026 03:38 AST

NMDC Energy has announced its financial results for the first quarter of 2026, stating that it maintained operational continuity across all its projects as a result of integrated efforts, coordination with all relevant stakeholders, and the effective implementation of business continuity frameworks and risk management practices.

NMDC Energy delivered solid financial performance in the first three months of 2026, with revenues increasing 33 per cent year-on-year to AED5 billion ($1.4 billion), driven by the continued execution of its project backlog.

Net profit for Q1 2026 came at AED80 million and the company's backlog stood at AED35.3 billion.

UAE operations remained the primary contributor to revenues at 74 per cent, while international markets accounted for 26 per cent, reflecting a diversified revenue base.

The company closed the quarter with a cash balance of AED3.5 billion.

Looking ahead, NMDC Energy continues to monitor regional developments closely and remains positioned for the remainder of the year, supported by a backlog; a pipeline of projects, which reached AED67 billion at the end of the quarter.

Mohamed Almehairi, Chairman of NMDC Energy, said: "The performance this quarter reflects the resilience of the UAE economy and the strength of its leadership in navigating a complex regional environment. The government's proactive and coordinated approach has ensured stability, continuity, and confidence across key sectors, enabling companies like NMDC Energy to operate and continue contributing to the country's long-term development priorities."

Ahmed Al Dhaheri, CEO of NMDC Energy, stated: "Our priority throughout the quarter was disciplined execution, operational continuity and financial prudence. We successfully maintained momentum across our projects and converted backlog into revenues despite a more challenging operating environment. This demonstrates the strength of our leadership, people, processes and long-term business fundamentals."

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