UAE: NMDC Group reports robust financial results for Q1 2025
The Group achieved a 22% year-on-year increase in net profit for the quarter, from AED641 million in Q1 2024 to AED784 million in Q1 2025.
Revenues climbed to AED6.2 billion, up 16% year-on-year from the corresponding period of 2024. Earnings per share rose 12 % to AED0.87, and total assets stood at AED32.7 billion at the end of March 2025. By the end of the quarter, NMDC Group's backlog stood at AED75.4 billion, with a healthy pipeline of projects.
Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of the Board of Directors of NMDC Group, said, "NMDC Group continues to build on its unstoppable momentum by delivering impressive financial results and successive strategic milestones during the first quarter of 2025. The results demonstrate how ambitious we have been, both at home and abroad, as we have inaugurated new partnerships, projects, and facilities that have brought further depth to our business. Collectively, NMDC Group's market-leading diversified businesses have also come to reflect the forward-focused aspirations of the UAE and its people, and as we look optimistically ahead, we'll continue to apply our vast capabilities in ways that will drive sustainable growth and economic progress for the UAE and further afield.'
Yasser Zaghloul, CEO of NMDC Group, stated, 'We are delighted to continue our strong journey by starting 2025 strong, with our solid performance reflecting significant operational milestones as well as our ambitious pursuit of impactful growth. We can confidently say that we strengthened our position in long-standing markets and that we diversified both vertically and horizontally, as well as geographically. We are pleased to announce the launch of NMDCCC, which we believe is a milestone towards the execution of our strategy to unlock greater potential for the Group by increasing our market share, providing us with greater access into new markets, in addition to allowing us to better meet the needs of and better serve our clients.'
He added, 'The notable growth in our Net Proft is a key indicator of the strength of our business as well as our market-leading capabilities, particularly how these continue to resonate across the energy and marine landscape. What is more, our success is also defined by trust, where shareholders and partners continue to value our expertise. As we look ahead, we'll continue to strengthen our vital relationships with government, client, investor, partner, and supplier stakeholders into the remainder of 2025 and beyond.'
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