Abu dhabi: NMDC Group, a leading entity in engineering, procurement, construction, and marine dredging, has announced its financial results for the first quarter of 2026, showcasing a resilient operational performance amid evolving regional conditions.
According to Emirates News Agency, NMDC Group has maintained consistent progress across its various projects, bolstered by disciplined execution and robust operational coordination. The group's revenues soared to AED6.6 billion in Q1 2026, marking a 7 percent increase from the previous year, primarily driven by steady backlog conversion.
The group's net profit for the quarter was AED387 million, reflecting a cautious and measured approach in navigating a complex operating environment. NMDC Group's backlog was reported at AED55.4 billion, offering strong visibility on future revenues, while its pipeline reached AED92 billion across its verticals, including NMDC Energy, NMDC Dredging and Marine, and NMDC Infra, emphasizing the broad array of opportunities within its core sectors.
Throughout the quarter, NMDC Group focused on building momentum within its Infrastructure vertical, NMDC Infra, undertaking essential projects that align with national priorities. The acquisition of Lantania Aguas has fortified the group's position in the global water sector, while a joint venture with CCC has enhanced its capabilities in onshore oil and gas EPC, expanding its offerings across the energy value chain.
The awarded projects during this period amounted to AED1.8 billion, with AED1.5 billion secured by Dredging and Marine and AED0.3 billion by Infra, indicating sustained demand in the group's primary business areas. The company maintained a net cash position of AED5.2 billion, underscoring its financial robustness and ability to navigate market conditions while continuing to invest in strategic growth areas.
Mohamed Thani Al Rumaithi, Chairman of the Board of Directors, emphasized the UAE's stability, clear policy direction, and long-term planning as powerful enablers of economic progress. He highlighted the confidence these factors provide NMDC Group to invest in capabilities, partnerships, and sectors that support the UAE's economic diversification, reflecting the group's unmatched business model, strong balance sheet, and commitment to creating sustainable long-term value for shareholders and stakeholders.
Dr. Yasser Zaghloul, Group Chief Executive Officer of NMDC Group, reiterated the group's operational resilience and the strength of its operating model, attributing steady revenue growth, maintained profitability, and an expanded backlog to the UAE's stable and well-regulated economic environment. He emphasized NMDC Group's readiness to capture new opportunities and deliver consistent performance through 2026 and beyond.
NMDC Group continues to closely monitor regional developments while maintaining a disciplined and forward-looking approach. With a strong backlog, diversified pipeline, and solid financial position, the group is well-positioned to sustain performance and capitalize on future opportunities.