Report on review of interim condensed consolidated financial statements 1
Interim condensed consolidated statement of financial position 2 - 3
Interim condensed consolidated statement of profit or loss 4
Interim condensed consolidated statement of comprehensive income 5
Interim condensed consolidated statement of changes in equity 6
Interim condensed consolidated statement of cash flows 7
Notes to the interim condensed consolidated financial statements 8 - 37
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REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION TO THE BOARD OF DIRECTORS OF NMDC GROUP PJSCIntroduction
We have reviewed the accompanying interim condensed consolidated statement of financial position of NMDC Group PJSC (the "Company") and its subsidiaries (together referred to as the "Group") as at 30 September 2025 and the related statements of profit or loss, comprehensive income, changes in equity and cash flows for the nine-month period then ended, and material accounting policy information and explanatory notes. Management is responsible for the preparation and presentation of this interim financial information in accordance with International Accounting Standard 34, "Interim Financial Reporting" (IAS 34). Our responsibility is to express a conclusion on this interim financial information based on our review.
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with IAS 34.
Deloitte & Touche (M.E.)
Mohammad Khamees Al Tah Registration Number 717
30 October 2025 Abu Dhabi
United Arab Emirates
NMDC Group PJSC 2
Interim condensed consolidated statement of financial position as at 30 September 2025
Assets
Notes
30 September 31 December
2025 2024
AED'000 AED'000
(Unaudited) (Audited)
Non-current assets | ||||
Property, plant and equipment Investment properties | 4 | 7,175,394 322,000 | 6,799,058 322,000 | |
Right-of-use assets | 5 | 585,723 | 478,609 | |
Goodwill | 169,524 | 5,057 | ||
Investments in equity accounted investees | 6 | 569,214 | 507,120 | |
Deferred tax assets Retention receivables | 7 | 3,616 944,304 | 3,751 1,139,988 | |
Total non-current assets | 9,769,775 | 9,255,583 | ||
Current assets | ||||
Inventories 901,520 | 718,482 | |||
Trade and other receivables | 7 | 19,022,361 | 13,060,295 | |
Contract assets | 8 | 5,395,298 | 4,518,985 | |
Financial assets at fair value through profit or loss | 683,236 | 640,857 | ||
Derivative financial assets | 24,413 | 12,056 | ||
Cash and bank balances | 9 | 3,993,062 | 4,993,493 | |
Total current assets | 30,019,890 | 23,944,168 | ||
Total assets | 39,789,665 | 33,199,751 | ||
EQUITY AND LIABILITIES | ||||
Equity | ||||
Share capital | 844,379 | 844,379 | ||
Share premium | 605,421 | 605,421 | ||
Merger reserve | 765,000 | 765,000 | ||
Other reserves | 18 | (90,123) | (141,186) | |
Retained earnings | 11,185,644 | 9,346,417 | ||
Equity attributable to the shareholders of the | ||||
Company | 13,310,321 | 11,420,031 | ||
Non-controlling interests | 1,336,906 | 1,205,088 | ||
Net equity | 14,647,227 | 12,625,119 | ||
The accompanying notes form an integral part of these interim condensed consolidated financial statements.
NMDC Group PJSC | 3 | |||
Interim condensed consolidated statement of financial position (continued) | ||||
as at 30 September 2025 | ||||
30 September | 31 December | |||
2025 | 2024 | |||
Notes AED'000 | AED'000 | |||
(Unaudited) | (Audited) | |||
Liabilities | ||||
Non-current liabilities | ||||
Provision for employees' end of service benefits 577,488 | 507,577 | |||
Borrowings 10 684,284 | 735,700 | |||
Deferred tax liabilities 775 | 16,120 | |||
Derivative financial liabilities Lease liabilities | 5 | 409,554 | 15,222 394,591 | |
Total non-current liabilities | 1,672,101 | 1,669,210 | ||
Current liabilities | ||||
Trade and other payables | 11 | 16,533,651 | 14,045,318 | |
Contract liabilities | 4,604,849 | 4,060,865 | ||
Derivative financial liabilities | 11,375 | |||
Income tax payable | 12 | 452,523 | 358,114 | |
Borrowings | 10 | 385,846 | 342,346 | |
Bank overdraft Lease liabilities | 9 5 | 1,308,934 184,534 | 87,404 | |
Total current liabilities | 23,470,337 | 18,905,422 | ||
Total liabilities | 25,142,438 | 20,574,632 | ||
Total equity and liabilities | 39,789,665 | 33,199,751 | ||
To the best of our knowledge, the financial information included in the report fairly presents in all material respects the financial condition, results of operation and cash flows of the Group as of, and for, the periods presented in these cond ed consolidated financial statements.
Moham med Thani Murshed Al Rumaithi
Chairman
Yasser Nasr ZaghloulGroup Chief Executive Officer
Sreemont Prasad 9rua
Group Chief Financial Officer
The accompanying notes form an integral part of these interim condensed consolidated financial statements.