NMDC Energy, a majority-owned subsidiary of NMDC Group, reported a 9 per cent year-on-year increase in revenue to AED14.2 billion ($3.9 billion) for the nine months ended 30 September 2026, with net profit reaching AED420 million.
The engineering, procurement and construction (EPC) provider
said its performance reflected its ability to convert and execute its
substantial project backlog despite a challenging operating environment.
The UAE accounted for 72 per cent of total revenue in the
first nine months of 2026, while international markets contributed the
remaining 28 per cent, reflecting a balanced geographical revenue mix.
NMDC Energy’s backlog increased to AED33 billion, providing
multi-year revenue visibility across key regional and international markets.
The company also maintained a strong balance sheet, ending
the reporting period with AED3 billion in cash to support capital investment,
working capital requirements and potential growth opportunities.
Mohamed Almehairi, chairman of NMDC Energy, said: “Our
performance across the first nine months of 2026 reflects the fundamental
strength of the UAE’s industrial and energy ecosystem and NMDC Energy’s vital
role as a trusted EPC powerhouse. Navigating a dynamic global operating
environment, we have continued to deliver top-line growth by maintaining strict
operational discipline and focusing on high-value project delivery. Backed by a
healthy balance sheet we remain focused on generating sustainable, long-term
value for our shareholders and partners across local and international
markets.”
Ahmed Al Dhaheri, CEO of NMDC Energy, said: “Our 9M 2026
results highlight the operational resilience of our business model, the
dedication of our people, and our relentless focus on executing our backlog on
schedule. Driving an increase in revenues in a demanding operating environment
is a direct testament to how effectively we are converting our project
portfolio into tangible financial results. While we continue to deploy advanced
AI initiatives across engineering and procurement to our fleet and fabrication
yards, our priority remains disciplined execution as we position the business
for its next phase of regional and global growth.”
During the period, NMDC Energy continued to enhance its
operational capabilities across four advanced fabrication yards in the UAE and
Saudi Arabia, supported by investments in yard modernisation, digital
innovation and fleet optimisation.
The company also received international recognition during
the third quarter for its sustainability initiatives and project delivery
capabilities.
At the 2026 Green World Awards, NMDC Energy secured Gold and
Silver accolades in the Environmental Improvement and Sustainable Development
categories for carbon reduction.
It was also named a Green World Ambassador to represent the
UAE at the awards ceremony in Fiji.
Additionally, the company’s Main Oil Line project connecting
Umm Lulu to Zirku Island was named the National Winner for Energy Project of
the Year at the 2026 MEED Projects Awards.
The results highlight NMDC Energy’s focus on disciplined
project execution, operational efficiency and investment in technology as it
seeks to sustain growth across regional and international energy markets. -TradeArabia News Service