NMDC Energy Reports Strong Financial Performance in Q1 2025
NMDC Energy reported an increase in net profit to 217 million DH in the first quarter of 2025, driven by strong operating performance and expansion to new projects both locally and internationally.
Financial Highlights
The company’s income rose to 3.7 billion, representing a 75% increase compared to the previous year. Profits per share increased by 25% to DH0.04, and total assets were 16.3 billion at the end of March 2025. The company’s backlog stood at 56.3 billion, with a healthy pipeline of projects.
Recent Achievements
During the first quarter of 2025, NMDC Energy was successfully qualified and included in the MSCI Small Cap Index, a global provider of equity, fixed income, and real estate indices. This inclusion is expected to attract passive funds to the company.
Strategic Milestones
The company marked several strategic milestones during the quarter, including the opening of a 400,000 m² state-of-the-art farm in Ras al Khair, Saudi Arabia. NMDC Energy also signed a three-year extension for its long-term agreement with Aramco, representing another milestone in the company’s strategic growth activities in Saudi Arabia.
International Expansion
NMDC Energy has been expanding its international presence, with a focus on Saudi Arabia and other regions. The company invested 200 million DH in its Ras al Khair Yard to provide productive, safe, and environmentally friendly facilities. The yard has a production capacity of 40,000 tons per year and offers offshore facilities and onshore modularization.
Leadership Role
NMDC Energy retained its leadership role in promoting key projects, accelerating innovations, and achieving considerable progress. The company was awarded a prestigious EPC contract for the setting up of the Tung Hsiao power plant by the Taiwan Power Company (Taipower). The $1.14 billion project includes the design, construction, and installation of 111 kilometers of linear underwater pipeline.
Commitment to Excellence
As a catalyst for the energy future, NMDC Energy recognizes the need to forge important partnerships and participate in milestone projects to continue setting the pace for the global energy industry. The company is committed to excellent performance, innovation, and sustainability, and is well-positioned for future growth and success.
CEO’s Statement
The CEO of NMDC Energy expressed satisfaction with the company’s performance, stating that they are pleased to have delivered a strong financial performance in the first quarter of 2025. The company will continue to focus on improving efficiency, expanding its international presence, and delivering exceptional results.
Chairman’s Statement
The Chairman of NMDC Energy noted that the company has delivered a strong start to 2025, building on its landmark performance in 2024. The company’s healthy pipeline and international expansion are expected to drive future growth and success.
