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’ve 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.

Dividends: The board proposed a 20% increase in banknote dividends to AED 844.4 mn for 2025 (AED 1 per share), subject to shareholder approval at the upcoming general assembly.

Looking ahead: NMDC Group ended 2025 with a pipeline exceeding AED 109 bn, supported by new awards across the UAE, Taiwan, Oman, and the Philippines, and said it will prioritize geographic diversification and backlog conversion in 2026. As part of that push, the group has moved into Europe’s water and desalination sector through the acquisition of a majority stake in Spain’s Lantania Aguas.

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