NMDC Group, a global leader in integrated marine, energy, construction, logistics, and engineering solutions, today reported a 6% increase in revenues for the first half of 2026 (H1 2026), reaching AED14.1 billion ($3.84 billion), compared to AED13.4 billion in the same period last year.
Navigating the current evolving landscape, NMDC Group achieved a net profit of AED1.6 billion ($435.67 million) for H1 2026, driven by operational resilience, resources reconfiguration, and continuous operational optimisation.
The group's revenue generation remained highly diversified across its core business units, with local UAE projects contributing 80% of total revenues and international operations generating 20%. With project awards across its various business verticals reaching AED7.8 billion in H1 2026, the group continued to expand its backlog to AED56.1 billion, securing long-term revenue visibility and reinforcing a strong foundation for future growth.
The group's financial stability and operational efficiency are further underscored by an exceptionally liquid balance sheet, closing H1 2026 with a net cash position of AED4.8 billion.
NMDC Group achieved cash collections equivalent to 113% of revenues, outperforming top-line generation and demonstrating strong cash conversion and disciplined working capital management.
In the second quarter of 2026 (Q2 2026), NMDC Group demonstrated strong growth momentum, delivering margin expansion and improvement in profitability on both a year-on-year (Y-o-Y) and quarter-on-quarter (Q-o-Q) basis. This quarterly enhancement was driven by heightened project execution efficiency, disciplined cost management, and high-margin project delivery. This performance reflects the Group's execution capability at scale, seamlessly deploying its specialized engineering and marine assets across complex regional infrastructure projects.
Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of NMDC Group, stated: "Our outstanding performance in the first half of 2026 reflects the enduring strength of our strategic vision, guided by the profound wisdom of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the continuous support of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. As we build upon five decades of industry leadership, NMDC Group remains resolute in its mission to drive sustainable economic growth. We are not just executing complex projects, we are demonstrating exceptional operational resilience and exporting the UAE’s engineering excellence to the world, creating lasting value for our partners, and supporting the nation's ambitious development goals."
Dr Yasser Zaghloul, Group Chief Executive Officer of NMDC Group, expressed his profound gratitude to the UAE’s wise leadership for their continuous vision and guidance. He stated: “Our first-half performance reflects our operational resilience in managing resources and creating innovative solutions to address challenges, as well as the high effectiveness of our integrated business model within a changing economic landscape. By proactively optimizing our capabilities and driving execution efficiency across all verticals, we continue to deliver complex projects seamlessly. We owe this sustained progress to the relentless dedication of our workforce and the unwavering backing of our Board of Directors and key shareholders, who continuously empower us to scale new heights and drive sustainable, long-term growth.”
Throughout H1 2026, NMDC Group accelerated its strategic expansion and institutional leadership, highlighted by a strategic fleet investment in a state-of-the-art self-propelled cutter suction dredger built in China, alongside landmark industrial localisation agreements and MoUs signed at Make it in the Emirates 2026. -TradeArabia News Service
