Latest news with #AhmedSalemAlDhaheri
Mid East Info
6 days ago
- Business
- Mid East Info
NMDC Energy delivers strong H1 growth, showcasing resilience and operational excellence - Middle East Business News and Information
default H1 revenue accelerated 41% year on year, and net profit climbed 16% Backlog stood at AED 49.9 billion, with AED 13.9 billion in awarded projects 400,000 sqm fabrication yard in Saudi Arabia now fully operational Extended its long-term agreement 'LTA' with Aramco, continuing a strategic partnership focused on offshore projects in Saudi Arabia Abu Dhabi, UAE;July 2025: NMDC Energy PJSC (ADX: NMDCENR), a majority-owned subsidiary of NMDC Group (ADX: NMDC), today announced strong financial results for the first half of 2025, with sustained growth demonstrating the company's strength and disciplined execution amid challenging market conditions. NMDC Energy continued its regional expansion, broadened its capabilities, and diversified its revenue streams in the first six months of 2025, delivering a 41% year-on-year surge in revenue to AED 8.2 billion and a 16% rise in net profit to AED 583 million over the same period. With remarkable award wins in the first half of 2025 totaling AED 13.9 billion, and a backlog that stood at AED 49.9 billion by the end of June 2025, NMDC Energy continues to pursue opportunities that align market demand with its long-term strategy, whereby it continues to build its pipeline of projects, which reached AED 66 billion by the end of the second quarter. In Q2 2025, revenue grew 21% year on year to AED 4.4 billion and a net profit of 12% to AED 366 million, supported by sustained momentum across core EPC and industrial operations. NMDC Energy's 400,000 sqm fabrication yard in Ras Al Khair, Saudi Arabia, became fully operational during the quarter. The facility strengthens the company's offshore EPC and modular construction capabilities across the region, supporting both current delivery and future growth. Mr. Mohamed Hamad Almehairi, Chairman of NMDC Energy, said: 'Our progress this quarter demonstrates NMDC Energy's pivotal role in building regional industrial capability at pace and at scale, as we charter a strategic path that emphasizes future-ready initiatives and targeted growth. These are not just partnerships – they are the building blocks for long-term value and self-sufficiency – as we invest our traditional strengths and emerging opportunities to deliver growth and operational excellence at the forefront of the evolving energy sector.' Eng. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, added: 'We continue to build precision and scale into our operations. We advanced local manufacturing partnerships, expanded regional fabrication capacity, and brought one of the Gulf's most advanced yards online. These steps position NMDC Energy to undertake more complex EPC work – faster and at a greater scale. We are building the next phase of our growth with precision, ambition and impact as we shape a world where infrastructure meets excellence.' NMDC Energy continues to strengthen its long-lasting relationship with Aramco, with a 3-year extension to its Long-Term Agreement ('LTA') and an option for an additional 3 years. This extension solidifies NMDC Energy's continued role in supporting Aramco's offshore projects and contributing to Saudi Arabia's economic ambitions. The company was also awarded the ICV Excellence Award at MIITE in the Semi-Governmental Manufacturers category, recognizing its AED 17 billion reinvestment in the UAE economy through support for SMEs, local suppliers and workforce development. With more than 50 years of experience and a strong track record of successfully executed projects, NMDC Energy is on course for even greater gains as it continues to explore new growth opportunities and expand its reach. Guided by the two strategic pillars of geographical market expansion and capability expansion, NMDC Energy's global footprint demonstrates its commitment to transcending borders and shaping a world where infrastructure meets excellence.
Al Etihad
7 days ago
- Business
- Al Etihad
NMDC Energy H1 net profit rises 16% to Dh583 million
23 July 2025 12:30 ABU DHABI (WAM) NMDC Energy on Wednesday announced strong financial results for the first half of 2025, with sustained growth demonstrating the company's strength and disciplined H1 2025, NMDC Energy delivered a 41 percent year-on-year surge in revenue to Dh8.2 billion and a 16 percent rise in net profit to Dh583 million compared to remarkable award wins in the first half of 2025 totalling Dh13.9 billion, and a backlog that stood at Dh49.9 billion by the end of June 2025, NMDC Energy continues to pursue opportunities that align market demand with its long-term strategy, whereby it continues to build its pipeline of projects, which reached Dh66 billion by the end of the second Q2 2025, revenue grew 21 percent year-on-year to Dh4.4 billion and a net profit of 12 percent to Dh366 million, supported by sustained momentum across core EPC and industrial Energy's 400,000 sqm fabrication yard in Ras Al Khair, Saudi Arabia, became fully operational during the facility strengthens the company's offshore EPC and modular construction capabilities across the region, supporting both current delivery and future of NMDC Energy, Mohamed Hamad Almehairi, said, 'Our progress this quarter demonstrates NMDC Energy's pivotal role in building regional industrial capability at pace and at scale, as we charter a strategic path that emphasises future-ready initiatives and targeted are not just partnerships – they are the building blocks for long-term value and self-sufficiency – as we invest our traditional strengths and emerging opportunities to deliver growth and operational excellence at the forefront of the evolving energy sector.'CEO of NMDC Energy, Eng. Ahmed Salem Al Dhaheri, said, 'We continue to build precision and scale into our operations. We advanced local manufacturing partnerships, expanded regional fabrication capacity, and brought one of the Gulf's most advanced yards online. These steps position NMDC Energy to undertake more complex EPC work – faster and at a greater scale.'NMDC Energy continues to strengthen its long-lasting relationship with Aramco, with a three-year extension to its Long-Term Agreement (LTA) and an option for an additional three years. This extension solidifies NMDC Energy's continued role in supporting Aramco's offshore projects and contributing to Saudi Arabia's economic ambitions. The company was also awarded the ICV Excellence Award at MIITE in the Semi-Governmental Manufacturers category, recognising its Dh17 billion reinvestment in the UAE economy through support for SMEs, local suppliers and workforce development.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
NMDC Energy revenues surge 75% year on year to Dh3.7 billion
NMDC Energy on Tuesday reported 25 per cent year-on-year increase in net profit for the quarter, from Dh174 million in Q1 2024 to Dh217 million in Q1 2025; driven by strong operational performance and expansion into new projects both locally and internationally. Revenues climbed to Dh3.7 billion, up 75 per cent year-on-year from the corresponding period of 2024. Earnings per share rose 25 per cent to Dh0.04, and total assets stood at Dh16.3 billion at the end of March 2025. Total projects awarded during Q1 2025 amounted to Dh13.9 billion. Furthermore, by the end of the quarter, NMDC Energy's backlog stood at Dh56.3 billion, with a healthy pipeline of projects. During Q1'25, NMDC Energy was successfully qualified and included in MSCI small cap Index (the global provider of equity, fixed income, real estate indices) during their rebalancing event in February 2025; thus resulting in passive funds flow during the period. The inclusion comes post NMDC Energy's listing in September 2024. The first quarter of the year followed a similar growth trajectory as 2024 with NMDC Energy marking several strategic milestones. NMDC Energy inaugurated 400,000 sqm state-of-the-art yard, part of the Ras Al Khair Special Economic Zone, in Saudi Arabia. Going further, NMDC Energy signed a three-year extension for its Long-Term Agreement 'LTA' with Aramco, representing another accomplishment in Saudi Arabia. Moreover, the Company was also awarded a prestigious EPC contract by Taiwan Power Company (Taipower) for pipeline installation for the Tung-Hsiao Power Plant. 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. At the heart of these activities, our business has continued to play a deep facilitating role in powering economies and in driving forward national ambitions. In parallel, we've also worked collaboratively with our partners in areas such sustainability, job creation, and health and safety, to ensure that we remain a force for good whenever and wherever we operate.' Eng. 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. As look ahead, we foresee that the momentum we've created this quarter as well as our success in recent years will pave the way for us to unlock future growth and value creation both nationally and globally.' International expansion NMDC inaugurated an advanced fabrication yard in Ras Al Khair, Saudi Arabia. The 400,000 sqm state-of-the-art yard, part of the Ras Al Khair Special Economic Zone, boasts a production capacity of 40,000 tonnes per year and will provide offshore facilities fabrication as well as onshore modularisation. The company invested Dh200 million into its Ras Al Khair yard to provide productive, safe and environmentally sound facilities, and it will embed the latest technologies to deliver efficiencies and reduce environmental impact. NMDC Energy has also signed a three-year extension for its Long-Term Agreement 'LTA' with Aramco representing another milestone in the company's recent strategic growth activities in Saudi Arabia. The services provided by NMDC Energy under the LTA cover detailed engineering, material procurement, fabrication, transportation, installation, and pre-commissioning of offshore facilities in connection with projects to be executed within Saudi Arabian territorial waters. In 2016, NMDC Energy signed a previous LTA with Aramco, resulting in NMDC Energy's involvement in multiple projects worth billions of dollars. NMDC Energy maintained its leadership role in driving key projects, accelerating innovation and achieving significant progress that underscores its commitment to excellence. The company was awarded a prestigious EPC contract by Taiwan Power Company (Taipower) for subsea pipeline installation for the Tung-Hsiao Power Plant 2nd Stage Renewal Project. The $1.14 billion project involves the design, construction and installation of 111 kilometres of linear subsea pipeline at depths ranging from 10 metres to 55 metres, stretching between Taichung and Tung-Hsiao on Taiwan's west coast. As a catalyst of the energy future, NMDC Energy recognizes the near and intermediate steps necessary to ensure that the sector can move in tandem with the realities of the world. The company is committed to forging key partnerships and in partaking in landmark projects in the UAE and beyond, to continue setting the pace and make swift forward steps for the world's energy industry.
Al Etihad
29-04-2025
- Business
- Al Etihad
NMDC Energy posts Dh217 million net profit in Q1
29 Apr 2025 10:56 ABU DHABI (WAM)NMDC Energy, a majority-owned subsidiary of NMDC Group, has reported strong financial results for the period ending March 31, 2025, with robust performance defined by healthy project activity and diversified revenue Energy achieved 25 percent year-on-year increase in net profit for the quarter, from Dh174 million in Q1 2024 to Dh217 million in Q1 2025, driven by strong operational performance and expansion into new projects both locally and climbed to Dh3.7 billion, up 75 percent year-on-year from the corresponding period of 2024. Earnings per share rose a remarkable 25 percent to Dh0.04, and total assets stood at Dh16.3 billion at the end of March projects awarded during Q1 2025 amounted to Dh13.9 billion. Furthermore, by the end of the quarter, NMDC Energy's backlog stood at Dh56.3 billion, with a healthy pipeline of 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," he added.
Zawya
29-04-2025
- Business
- Zawya
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.'
