Solid backlog and delivery drive growth for NMDC in 2025

NMDC Group wrapped up FY 2025 with a strong 4Q, posting net income after tax of AED 1.2 bn, up 35% y-o-y, while revenue rose 7% y-o-y to AED 8.3 bn, according to its earnings release (pdf) and management discussion and analysis report (pdf). Performance was driven by stronger margins and delivery across dredging and marine and energy, with the UAE contributing 81% of quarterly revenue. NMDC Energy had also posted a strong year, with net income up 14% y-o-y to AED 1.6 bn in 2025, as we have reported earlier this week.

FY performance: For the full year, NMDC reported net income after tax of AED 4.0 bn, up 29% y-o-y, alongside a 10% y-o-y rise in revenue to AED 28.8 bn. Growth was supported by steady project execution, with awarded projects reaching AED 19.5 bn and backlog standing at AED 57.9 bn at year-end.

Etihad Rail advances high-speed rail project

Etihad Rail awards Abu Dhabi-Dubai high-speed railway design-and-build contracts valued at over USD 8 bn, sources told Meed last week. Construction will focus on the 150-km first phase, stretching from Abu Dhabi’s Al Zahiyah to Dubai’s Al Jaddaf, with a target of being operational by 2030.

This project plans to create a new logistics and commuting spine for the UAE, with trains designed to run at 320 km/h — slashing the journey time between major hubs like Al Jaddaf and Al Zahiyah to just 30 minutes. The railway is expected to contribute AED 145 bn to GDP over 50 years.

What’s next? The four-phase project will scale up in subsequent developments, with plans to add a 10-station inner-city network in Abu Dhabi in the second phase, before extending to Al Ain and Sharjah in the final phases.

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