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GWC-
Qatar’s Gulf Warehousing Company (GWC) saw its net income for 2Q 2025 slip 53.3% y-o-y to QAR 23.3 mn (c. USD 6.4 mn), according to company financials (pdf). Top line for the period decreased 7.4% y-o-y to reach QAR 345 mn.
In 1H terms: The company saw its bottom line slump some 38.4% y-o-y to QAR 62.5 mn, while its revenues dipped 4.8% y-o-y, recording around QAR 712.7 mn in the first half of 2025.
GWC’s been busy this year: The warehouse and distribution company launched an oil and gas-dedicated logistics hub at Ras Laffan earlier this year to bolster Qatar’s expanding energy sector, providing logistics services for the North Field Expansion Project. It also set up shop in Saudi Arabia, launching a wholly-owned subsidiary — GWC ENR — in Dammam.
GWC in 2024: The company recorded QAR 172 mn in FY 2024, with its bottom line falling some 20% y-o-y from QAR 215 mn in 2023. The firm’s top line rose 5.4% y-o-y to QAR 1.6 bn in 2024, up from QAR 1.5 bn in 2023.
NMDC ENERGY-
NMDC Energy sees bottom line, top line growth: The UAE’s NMDC Energy — a subsidiary of the National Marine Dredging Company (NMDC) — saw its net income climb 12% y-o-y to AED 366 mn (c. USD 99.7 mn) in 2Q 2025, according to its earnings release (pdf). The firm’s top line surged 21% y-o-y to AED 4.4 bn in the same period, which it attributes to higher backlog execution. Around 30% of the firm’s revenues come from Saudi Arabia’s Aramco, while 3% comes from Taiwan operations, NMDC Energy CEO Ahmed Al Dhaheri told CNBC Arabia.
On a 1H basis: The company’s net income rose 16% y-o-y, reaching roughly AED 583 mn in 1H 2025, while its revenues surged 41% y-o-y to AED 8.2 bn during the same period.
Operational highlights: The company’s pipeline reached approximately AED 66 bn at the end of 2Q 2025, the release said. Its expected backlog stands at AED 49.9 bn, composed of projects slated to launch in 2025-2030 — with 21% being international projects and 79% in the UAE. NMDC Energy was awarded AED 13.9 bn in projects in 1H 2025, chief among them a USD 1 bn EPC contract for a subsea gas pipeline project in Taiwan.
ICYMI- NMDC raised AED 3.22 bn from the Abu Dhabi Exchange IPO of NMDC Energy late last year after receiving over AED 88 bn in orders from investors at the close of the offering period.
