NMDC Group posts AED 21.4 billion revenue, backlog hits AED 54.1 billion

Summary

• NMDC Group reported AED 21.4 billion in nine-month revenue, up 4%, with AED 2.4 billion net profit.
• Its order backlog stood at AED 54.1 billion, lifted by AED 9.7 billion in new awards.
• The backlog gives investors visibility on future earnings even as revenue growth slows to single digits.

The latest

Revenue at Abu Dhabi-listed NMDC Group rose 4% year-on-year to AED 21.4 billion in the first nine months of 2026, with net profit of AED 2.4 billion, the company said in results released on Friday, 30 October 2026. The group ended the period with a AED 54.1 billion project backlog and AED 3.9 billion in net cash.

Details

• The headline numbers: Revenue for the nine months ended 30 September 2026 reached AED 21.4 billion, a 4% increase on the same period a year earlier, according to the company's disclosure to the Abu Dhabi Securities Exchange. Net profit for the period came in at AED 2.4 billion.
• Revenue mix: Domestic operations accounted for 78% of total revenue, with international markets contributing the remaining 22%, the company said. It did not break out which overseas markets drove the international share or how that split compared with the prior year.
• The backlog: The total value of projects under execution stood at AED 54.1 billion at the end of the period. That figure is roughly 2.5 times the revenue booked over the nine months, and is the main indicator the group offers on the scale of work already contracted but not yet delivered.
• New awards: NMDC Group said it secured new contracts and project awards worth AED 9.7 billion during the nine-month period. The company did not name the clients behind those awards, their locations, or the timeline over which the contracts are expected to be executed.
• Balance sheet: Net cash reached AED 3.9 billion by the close of the period, according to the results statement. The group gave no breakdown of debt levels or capital expenditure alongside that figure, and did not indicate how the cash position compared with the end of the previous financial year.
• Chairman's framing: Mohamed Thani Murshed Ghannam Al Rumaithi, chairman of the group, said NMDC had continued converting its large project portfolio into sustainable revenue growth. The comment ties the headline revenue figure directly to the backlog the company is presenting as its forward indicator.
• CEO's framing: Chief Executive Officer Dr Yasser Zaghloul said the results reflected operational efficiency and resilience in what he described as a more complex operating environment. He did not specify which cost, supply or market pressures he was referring to.
• Listing and timing: The group is listed on the Abu Dhabi Securities Exchange and published the nine-month figures on Friday, 30 October 2026. The statement covered the period to 30 September 2026 and did not include full-year revenue or profit guidance.

Between the lines

The two numbers pull in different directions. Revenue growth of 4% is modest for a contractor of this size, but a AED 54.1 billion backlog plus AED 9.7 billion in fresh awards is the metric management is pointing investors toward. Both executives framed the period around converting that portfolio and holding margins, language that reads as an answer to the slower top-line expansion rather than a claim of acceleration.

What's next

Watch the full-year 2026 results for whether the AED 54.1 billion backlog begins converting into faster revenue growth, and for any disclosure of client names or execution timelines behind the AED 9.7 billion in new awards.

Source: Emirates News Agency (WAM)