NMDC Group has just announced its full year financial results for 2024, achieving an exceptional 57% Y-o-Y growth in its revenues.
According to the latest news, the company grew its net profits in 4Q24, reporting a net profit of AED 916 million ($249.3 million), reflecting a 43% increase compared to the same period of 2023.
In addition, 4Q24 revenue increased to AED 7.7 billion (over $2 billion), up 37% from the corresponding period in 2023.
“Our results show full well the relentless pace of our growth momentum as well as our ability to capture local, regional, and global opportunities arising from the dynamic industries that we serve. What’s been impressive is that our growth has been horizontal and vertical, bringing short term impact as well as long term value for our stakeholders with benefits felt across the energy and marine landscape,” said Eng. Yasser Zaghloul , CEO of NMDC Group.
“We would like to express our gratitude to the UAE’s leadership for their wise guidance and the remarkable growth that the UAE is witnessing, and for our shareholders and partners for their continual trust in us. As we look ahead, we will continue explore diversification strategies aimed at advancing high-growth opportunities to ensure NMDC Group remains leader in an ever-evolving landscape.”
NMDC Group said that, alongside its growth activities, they have worked hard to implement several organizational initiatives to future proof its business.
The Group also introduced AI-powered initiatives throughout its operations to enhance safety and efficiency, as well as boosting environmental performance.