NMDC Energy maintained a strong liquidity position, with a cash balance of AED 3.5 billion
Abu Dhabi, UAE: NMDC Energy ADX:NMDCENR, a leading provider of engineering, procurement and construction (EPC) services for offshore and onshore energy clients, today announced its financial results for the first quarter of 2026, recording revenue growth despite current regional conditions.
The United Arab Emirates demonstrated strong levels of stability, business continuity, and economic resilience amid ongoing regional tensions, supported by proactive government measures and well-established frameworks to ensure uninterrupted operations. This stable environment enabled companies such as NMDC Energy to continue executing their projects while maintaining consistent operational performance.
Supported by strong stakeholder coordination, disciplined execution, and the effective implementation of business continuity and risk management frameworks NMDC Energy managed to navigate challenging operating environment. Against this backdrop, NMDC Energy delivered solid financial performance in the first three months of 2026, with revenues increasing 33% year-on-year to AED 5 billion, driven by the continued execution of its robust project backlog. Net profit for Q1 2026 came at AED 80 million, reflecting the Company’s prudent approach in light of the current regional environment.
The company’s backlog stood at AED 35.3 billion, providing strong visibility on future revenues. UAE operations remained the primary contributor to revenues at 74%, while international markets accounted for 26%, reflecting a diversified revenue base.
The company closed the quarter with a cash balance of AED 3.5 billion, reinforcing its liquidity position, financial resilience, and flexibility to navigate changing market conditions while pursuing future opportunities.
H.E. Mohamed Hamad 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.”
Eng. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, added: “Our priority throughout the quarter was disciplined execution, operational continuity and financial prudence. We successfully maintained momentum across our projects, converted backlog into revenues despite a more challenging operating environment. This demonstrates the strength of our leadership, people, processes and long-term business fundamentals.”
Looking ahead, NMDC Energy continues to monitor regional developments closely and remains well-positioned for the remainder of the year, supported by a strong backlog, healthy pipeline of projects which reached AED67 billion at the end of the quarter, and proven execution capabilities, while maintaining operational readiness and continuing to align with the UAE’s long-term economic and energy priorities.
About NMDC Energy
NMDC Energy is a world-class EPC solution provider, specializing in comprehensive Engineering, Procurement, and Construction services for the offshore and onshore oil & gas sector, as well as the broader energy industry.
A majority-owned subsidiary of NMDC Group, NMDC Energy has over 50 years of experience, and a solid track record of more than 1,350 projects executed. The company offers end-to-end solutions including engineering, procurement, pipe laying, project management, fabrication, installation, and commissioning.
Known for its technical expertise, structured project management, and integrated approach to innovation, NMDC Energy serves as a single point of contact for large-scale, complex projects—ensuring seamless execution and client satisfaction.
The company operates four state-of-the-art fabrication yards—three in the UAE and one in KSA—covering a total area of over 2.1 million square meters, supporting its vast capacity to meet the energy sector’s evolving demands.
For more information: https://www.nmdc-energy.com/en/investor-relations/
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