NMDC Energy, based in Abu Dhabi, saw its revenue rise by 75% to $1 billion in the first quarter of 2025 due to successful project execution

NMDC Energy, based in Abu Dhabi, saw its revenue rise by 75% to $1 billion in the first quarter of 2025 due to successful project execution

NMDC Energy, a part of the Abu Dhabi-based National Marine Dredging Company (NMDC) Group, has reported a 75% increase in its revenue to \$1 billion (AED 3.7 billion) in the first quarter of 2025, thanks to successful project work.

First-Quarter Performance

The company reported strong financial results for the quarter ending March 31, 2025, driven by active project work and diverse sources of income. NMDC Energy’s net profit increased by 25% to $59.1 million (AED 217 million) compared to the same time last year. This growth was supported by good performance in operations and the start of new projects both locally and internationally.

In the first quarter, the company secured projects worth $3.8 billion (AED 13.9 billion). Its backlog of unfinished work was valued at $15.3 billion (AED 56.3 billion) at the end of the quarter, showing a strong future project pipeline. Earnings per share (EPS) grew by 25% to $0.011 (AED 0.04).

Overseas Expansion

During this quarter, NMDC Energy opened a new advanced fabrication yard in Ras Al Khair, Saudi Arabia, boosting its industrial capabilities in the region. The 400,000-square-meter facility, located in the Ras Al Khair Special Economic Zone, can produce 40,000 tons per year.

The yard was built with an investment of $54.5 million (AED 200 million) and is designed to be productive, safe, and environmentally friendly.

The company also renewed its long-term agreement (LTA) with Aramco for three more years, securing its role in important offshore projects. The agreement includes engineering, material procurement, fabrication, transportation, installation, and pre-commissioning services for offshore facilities.

Key Quote

“Our focus on local operations remains strong, but this quarter also saw important progress internationally with the opening of our new yard in Saudi Arabia and our growing presence in East Asia,” said NMDC Energy CEO Ahmed Salem Al Dhaheri.

Big Number

As of March 31, 2025, NMDC Energy’s total assets reached $4.4 billion (AED 16.3 billion).

Published: 2nd May 2025

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