Today's Edition
ABU DHABI (ALETIHAD)
NMDC Energy, a majority-owned subsidiary of NMDC Group and a leading global provider of engineering, procurement, and construction (EPC) solutions for offshore and onshore energy developments, reported its financial results for the nine-month period ended 30 September 2026, with revenues increasing 9% Y-o-Y to Dh14.2 billion and a net profit of Dh420 million.
The top-line performance underscores NMDC Energy’s ability to steadily convert and execute its substantial backlog despite a challenging operating environment.
Growth was underpinned by a balanced geographical revenue mix, with local UAE operations contributing 72% and international markets accounting for 28% of total revenues in nine months, according to a report issued on Tuesday.
Demonstrating operational resilience and disciplined execution across its project portfolio, NMDC Energy recorded a net profit of Dh420 million in the nine-month period of 2026.
NMDC Energy managed to grow its backlog to reach Dh33.0 billion, providing strong multi-year revenue visibility across key regional and international markets.
NMDC Energy also maintained a strong and liquid balance sheet, with a cash position of Dh3.0 billion at the end of the nine-month period, providing the financial flexibility required to fund ongoing capital deployment, support working capital requirements, and pursue strategic growth opportunities.
His Excellency Mohamed Hamad Almehairi, Chairman of NMDC Energy, stated: “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.”
Eng. Ahmed Salem 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.
"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.”
Throughout 9M 2026, NMDC Energy continued to strengthen its operational capabilities across its four advanced fabrication yards in the UAE and Saudi Arabia, alongside ongoing investments in yard modernisation, digital innovation, and fleet optimisation.
Underscoring its leadership in the energy transition, NMDC Energy secured Gold and Silver accolades at the 2026 Green World Awards for carbon reduction across the Environmental Improvement and Sustainable Development categories and was named a Green World Ambassador to represent the UAE at the awards ceremony in Fiji.
