Abu Dhabi's NMDC Energy posts $59mln net profit in Q1
ABU DHABI - NMDC Energy, a majority-owned subsidiary of NMDC Group, has reported strong financial results for the period ending 31st March 2025, with robust performance defined by healthy project activity and diversified revenue contribution.
NMDC Energy achieved 25 percent year-on-year increase in net profit for the quarter, from AED174 million in Q1 2024 to AED217 million in Q1 2025; driven by strong operational performance and expansion into new projects both locally and internationally.
Revenues climbed to AED3.7 billion, up 75 percent year-on-year from the corresponding period of 2024. Earnings per share rose a remarkable 25 percent to AED0.04, and total assets stood at AED16.3 billion at the end of March 2025.
Total projects awarded during Q1 2025 amounted to AED13.9 billion. Furthermore, by the end of the quarter, NMDC Energy's backlog stood at AED56.3 billion, with a healthy pipeline of projects.
Mohamed Hamad Almehairi, Chairman of NMDC Energy, said, '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, said, '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.'
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