NMDC Energy, a majority-owned subsidiary of Abu Dhabi’s NMDC Group, has reported a 25 percent increase in net profit for the quarter, rising from AED174 million ($47.4 million) in Q1 2024 to AED217 million ($59.1 million) in Q1 2025. This growth, WAM reported, was fueled by strong operational performance and the expansion into new projects both locally and internationally.
Revenues rose to AED3.7 billion ($1 billion), reflecting a 75 percent year-on-year increase compared to the same period in 2024. Earnings per share increased by 25 percent to AED0.04, while total assets reached AED16.3 billion at the end of March 2025.
These financial results, for the period ending March 31, 2025, are marked by robust project activity and diversified revenue contributions.
During Q1 2025, total projects awarded amounted to AED13.9 billion. By the end of the quarter, NMDC Energy’s backlog stood at AED56.3 billion ($15.3 billion), supported by a healthy pipeline of projects.
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Strategic milestones
Mohamed Hamad Almehairi, chairman of NMDC Energy, stated, “NMDC Energy delivered the best possible start to 2025, strongly following our landmark performance in 2024 to reinforce our leadership position in the regional energy sector. We’ve made solid advances across our dynamic business by adding to our healthy pipeline and in deepening our international footprint.”
Ahmed Salem Al Dhaheri, CEO of NMDC Energy, remarked, “We are delighted to hit the ground running in 2025, picking up where we left off in 2024, by delivering strong financial performance. While we continue to cement our local execution capabilities, this quarter was marked by strategic milestones on the international front with the inauguration of our advanced yard in Saudi Arabia as well as our deepening presence in East Asia.
Our results this quarter reflect years of razor-sharp decision-making as well as our bold ambition for the sectors that we operate in. We’ve also worked hard to place cutting-edge technologies, innovation, and enhanced efficiency at the forefront of our business.”
