ALEC Holdings reported a 101% year-on-year surge in net profit to AED 230 million for Q1 2026, while revenue rose 87% to AED 4.6 billion, driven by strong backlog conversion and execution momentum across the UAE and KSA.
The Building & Construction segment was the primary driver with revenue increasing 116% to AED 2.9 billion, supported by the Energy Services segment which grew 74% to AED 1.5 billion, demonstrating operating leverage as revenue outpaced overhead expansion.
The company maintains a robust and diversified backlog of AED 26.7 billion, representing 1.8x coverage of trailing twelve-month revenue and providing strong visibility for the firm's multi-year project pipeline.
Management reaffirmed full-year 2026 guidance for revenue growth of 50-55% and a target gross profit margin slightly above 10%, supported by a planned AED 500 million dividend distribution for the 2026 financial year.
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