Abu Dhabi’s NMDC Group reports a 44% rise in yearly profit to $846 million due to strong revenue growth
Abu Dhabi’s National Marine Dredging Company (NMDC) Group made a net profit of $846.2 million (AED 3.1 billion) in 2024, which is 44% higher than last year. This increase was due to strong revenue growth.
NMDC’s Strong Performance in 2024
Revenue Growth
NMDC Group had a great year in 2024. The company’s total revenue increased by 57% compared to the previous year. It reached $7.2 billion (AED 26.3 billion), according to its financial report shared on the Abu Dhabi stock exchange.
Profit and Earnings
NMDC’s profit before tax, interest, and other expenses (EBITDA) grew by 62% in 2024. This means the company earned $1.1 billion (AED 4.2 billion) before subtracting costs.
The company’s earnings per share (EPS) also went up by 36% in 2024. This shows that each share of the company became more valuable, making it a better investment.
Cash Flow
NMDC had $466.4 million (AED 1.7 billion) in free cash flow in 2024. Free cash flow is the money left after the company pays all its expenses, and it shows how much cash the company can use for growth or paying shareholders.
Total Assets
The company’s total assets (everything it owns, including buildings, equipment, and cash) increased by 59% in 2024. Now, NMDC’s total assets are worth $9 billion (AED 33.2 billion). This shows that the company is growing and becoming stronger.
Stock Performance
As of Wednesday at 9:05 AM AST, NMDC’s stock price was $6.61 (AED 24.28) per share. This was a 0.08% increase. The company’s total market value, or market capitalization, is now $5.6 billion (AED 20.5 billion).
Conclusion
NMDC had an excellent year in 2024, with strong revenue growth, higher earnings, and more assets. The company continues to expand, and its stock remains stable in the market. Investors will likely keep an eye on NMDC as it grows even more in the future.
Published: 12th February 2025
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