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NMDC Group Posts 6% Revenue Growth in First Half of 2026

Prime Highlights 

  • NMDC Group’s H1 2026 revenue rose 6 per cent to AED14.1 billion, with net profit reaching AED1.6 billion.  
  • The group’s project backlog expanded to AED56.1 billion, backed by AED7.8 billion in new awards.  

Key Facts 

  • NMDC Group is a global marine, energy, construction, logistics and engineering solutions provider.  
  • Local UAE projects contributed 80 per cent of total revenues, with international operations making up 20 per cent.  

Background 

NMDC Group has reported a 6 per cent rise in revenues for the first half of this year, reaching AED14.1 billion, up from AED13.4 billion in the same period last year. The global marine, energy, construction, logistics and engineering solutions provider posted a net profit of AED1.6 billion, supported by operational resilience and continuous efficiency improvements. 

The diversification in the company’s income stream continued, with UAE-based projects accounting for 80 per cent of its revenue and the remaining 20 per cent from the company’s global ventures. The company received project contracts worth AED 7.8 billion in the course of business activities in different verticals, which increased the backlog value to AED 56.1 billion. 

NMDC Group closed the first half with a net cash position of AED4.8 billion, reflecting a highly liquid balance sheet. Cash collections equalled 113 per cent of revenues, indicating strong cash conversion and disciplined working capital management. 

In the second quarter, the group recorded margin expansion and improved profitability both year-on-year and quarter-on-quarter, driven by stronger project execution, cost discipline and delivery of high-margin projects. 

Chairman Mohamed Thani Murshed Ghannam Al Rumaithi said the strong first-half performance reflected the strength of the group’s strategic vision and five decades of industry leadership, adding that the company continued to export UAE engineering excellence globally while creating value for partners. 

Group Chief Executive Officer Dr Yasser Zaghloul credited the results to operational resilience, an effective integrated business model, and the dedication of the workforce and board. 

During the first half, NMDC Group also invested in a new self-propelled cutter suction dredger and signed several industrial localisation agreements at a recent UAE manufacturing event.