NMDC Energy, a majority-owned subsidiary of NMDC Group, and a leading global provider of engineering, procurement, and construction (EPC) solutions for offshore and onshore energy developments, reported revenues of AED14.2 billion ($3.87 billion) and a net profit of AED420 million ($114.36 million) for the nine-month period ended September 30, 2026.
The solid top-line performance underscores NMDC Energy's ability to steadily convert and execute its substantial backlog despite a challenging operating environment. Growth was underpinned by a balanced geographical revenue mix, with local UAE operations contributing 72% and international markets accounting for 28% of total revenues in 9M 2026.
Demonstrating operational resilience and disciplined execution across its project portfolio, NMDC Energy recorded a net profit of AED420 million in 9M 2026. NMDC Energy managed to grow its backlog to reach AED33 billion, providing strong multi-year revenue visibility across key regional and international markets.
NMDC Energy also maintained a strong and liquid balance sheet, with a cash position of AED3.0 billion at the end of the nine-month period, providing the financial flexibility required to fund ongoing capital deployment, support working capital requirements, and pursue strategic growth opportunities.
Mohamed Hamad Almehairi, Chairman of NMDC Energy, stated: "Our performance across the first nine months of 2026 reflects the fundamental strength of the UAE's industrial and energy ecosystem and NMDC Energy's vital role as a trusted EPC powerhouse. Navigating a dynamic global operating environment, we have continued to deliver top-line growth by maintaining strict operational discipline and focusing on high-value project delivery. Backed by a healthy balance sheet we remain focused on generating sustainable, long-term value for our shareholders and partners across local and international markets."
Eng Ahmed Salem Al Dhaheri, CEO of NMDC Energy, said: "Our 9M 2026 results highlight the operational resilience of our business model, the dedication of our people, and our relentless focus on executing our backlog on schedule. Driving an increase in revenues in a demanding operating environment is a direct testament to how effectively we are converting our project portfolio into tangible financial results. While we continue to deploy advanced AI initiatives across engineering and procurement to our fleet and fabrication yards, our priority remains disciplined execution as we position the business for its next phase of regional and global growth."
Throughout 9M 2026, NMDC Energy continued to strengthen its operational capabilities across its four advanced fabrication yards in the UAE and Saudi Arabia, alongside ongoing investments in yard modernization, digital innovation, and fleet optimisation.
During the third quarter, NMDC Energy's commitment to operational excellence, sustainability, and corporate responsibility continued to garner international recognition. Underscoring its leadership in the energy transition, NMDC Energy secured Gold and Silver accolades at the 2026 Green World Awards for carbon reduction across the Environmental Improvement and Sustainable Development categories and was named a Green World Ambassador to represent the UAE at the awards ceremony in Fiji. Furthermore, the company's engineering and execution capabilities were highlighted when the Main Oil Line from Umm Lulu to Zirku Island was named the National Winner for Energy Project of the Year at the 2026 MEED Projects Awards. - TradeArabia News Service
