Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	28.81B	26.26B	16.71B	10.69B	7.89B
Cost of Revenue	24.02B	22.65B	14.55B	9.58B	6.82B
Gross Profit	4.79B	3.62B	2.16B	1.11B	1.07B
SG&A	397.93M	338.95M	251.22M	159.42M	204.67M
Operating Expenses	397.93M	338.95M	265.89M	159.42M	204.67M
Operating Income	4.39B	3.28B	1.90B	0.95B	0.86B
Interest Income	174.46M	193.31M	138.94M	21.33M	14.86M
Interest Expense	-100.97M	-144.77M	-119.93M	-58.76M	-54.55M
Other Income/Expense	21.62M	-42.21M	46.65M	176.94M	59.13M
Pretax Income	4.57B	3.46B	2.19B	1.35B	1.00B
Income Tax	571.12M	350.39M	33.64M	41.98M	-2.52M
Net Income	3.63B	2.96B	2.15B	1.30B	1.00B
EBITDA	5.28B	3.86B	2.29B	1.37B	1.30B
EBIT	4.39B	3.28B	1.90B	0.95B	0.86B
EPS (Basic)	4.29	3.55	2.61	1.58	1.26
EPS (Diluted)	4.29	3.55	2.61	1.58	1.26
DPS	1.00	0.83	0.75	—	—
Margins & Efficiency
Gross Margin %	+16.6%	+13.8%	+12.9%	+10.4%	+13.5%
EBITDA Margin %	+18.3%	+14.7%	+13.7%	+12.8%	+16.5%
Net Margin %	+12.6%	+11.3%	+12.9%	+12.2%	+12.7%
Revenue & Income
Revenue	28.81B	26.26B	16.71B	10.69B	7.89B
Revenue Growth (YoY)	+9.7%	+57.2%	+56.4%	+35.5%	+78.3%
Interest & Investment Income	174.46M	193.31M	138.94M	21.33M	14.86M
Earnings From Equity Investments	67.97M	37.10M	52.65M	5.20M	8.86M
Gain (Loss) on Sale of Assets	-0.61M	5.90M	6.31M	267.44M	13.70M
Gain (Loss) on Sale of Investments	62.28M	179.11M	200.27M	-1.96M	1.27M
Currency Exchange Gain (Loss)	-64.93M	-55.98M	-38.85M	-31.57M	21.96M
Expenses & Provisions
Cost of Revenue	24.02B	22.65B	14.55B	9.58B	6.82B
Selling, General & Admin	397.93M	338.95M	251.22M	159.42M	204.67M
Operating Expenses	397.93M	338.95M	265.89M	159.42M	204.67M
Interest Expense	-100.97M	-144.77M	-119.93M	-58.76M	-54.55M
Other Non Operating Income (Expenses)	21.62M	-42.21M	46.65M	176.94M	59.13M
D&A For EBITDA	890.94M	582.99M	394.16M	420.77M	438.57M
Profitability & Returns
Gross Profit	4.79B	3.62B	2.16B	1.11B	1.07B
Gross Margin	+16.6%	+13.8%	+12.9%	+10.4%	+13.5%
EBIT	4.39B	3.28B	1.90B	0.95B	0.86B
EBIT Margin	+15.2%	+12.5%	+11.3%	+8.9%	+10.9%
EBITDA	5.28B	3.86B	2.29B	1.37B	1.30B
EBITDA Margin	+18.3%	+14.7%	+13.7%	+12.8%	+16.5%
EBT Excluding Unusual Items	4.49B	3.27B	1.98B	1.06B	0.91B
Pretax Income	4.57B	3.46B	2.19B	1.35B	1.00B
Operating Income	4.39B	3.28B	1.90B	0.95B	0.86B
Operating Margin	+15.2%	+12.5%	+11.3%	+8.9%	+10.9%
Profit Margin	+12.6%	+11.3%	+12.9%	+12.2%	+12.7%
Net Income	3.63B	2.96B	2.15B	1.30B	1.00B
Net Income to Common	3.63B	2.96B	2.15B	1.30B	1.00B
Net Income Growth	+22.5%	+37.5%	+65.2%	+30.0%	+839.0%
Earnings From Continuing Ops.	4.00B	3.11B	2.15B	1.30B	1.00B
Minority Interest in Earnings	-375.98M	-147.98M	-0.84M	-0.20M	-0.16M
Income Tax Expense	571.12M	350.39M	33.64M	41.98M	-2.52M
Effective Tax Rate	+12.5%	+10.1%	+1.5%	+3.1%	—
Per Share & Capital
EPS (Basic)	4.29	3.55	2.61	1.58	1.26
EPS (Diluted)	4.29	3.55	2.61	1.58	1.26
EPS Growth	+20.8%	+36.1%	+65.2%	+25.5%	+578.1%
Dividend Per Share	1.00	0.83	0.75	—	—
Shares Change (YoY)	0.01	0.01	—	0.04	0.38
Shares Outstanding (Basic)	844.38M	833.08M	825.00M	825.00M	796.23M
Shares Outstanding (Diluted)	844.38M	833.08M	825.00M	825.00M	796.23M
Dividend Growth	+20.5%	+10.7%	—	—	—
Free Cash Flow	1.34B	1.71B	1.68B	1.86B	1.45B
Free Cash Flow Margin	+4.6%	+6.5%	+10.0%	+17.4%	+18.4%
Free Cash Flow Per Share	1.58	2.06	2.03	2.26	1.82
Payout Ratio	+19.3%	+20.9%	—	—	+7.5%
Supplemental
Other Unusual Items	—	—	—	—	49.71M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	28.81B	26.26B	16.71B	10.69B	7.89B
Cost of Revenue	24.02B	22.65B	14.55B	9.58B	6.82B
Gross Profit	4.79B	3.62B	2.16B	1.11B	1.07B
SG&A	397.93M	338.95M	251.22M	159.42M	204.67M
Operating Expenses	397.93M	338.95M	265.89M	159.42M	204.67M
Operating Income	4.39B	3.28B	1.90B	0.95B	0.86B
Interest Income	174.46M	193.31M	138.94M	21.33M	14.86M
Interest Expense	-100.97M	-144.77M	-119.93M	-58.76M	-54.55M
Other Income/Expense	21.62M	-42.21M	46.65M	176.94M	59.13M
Pretax Income	4.57B	3.46B	2.19B	1.35B	1.00B
Income Tax	571.12M	350.39M	33.64M	41.98M	-2.52M
Net Income	3.63B	2.96B	2.15B	1.30B	1.00B
EBITDA	5.28B	3.86B	2.29B	1.37B	1.30B
EBIT	4.39B	3.28B	1.90B	0.95B	0.86B
EPS (Basic)	4.29	3.55	2.61	1.58	1.26
EPS (Diluted)	4.29	3.55	2.61	1.58	1.26
DPS	1.00	0.83	0.75	—	—
Margins & Efficiency
Gross Margin %	+16.6%	+13.8%	+12.9%	+10.4%	+13.5%
EBITDA Margin %	+18.3%	+14.7%	+13.7%	+12.8%	+16.5%
Net Margin %	+12.6%	+11.3%	+12.9%	+12.2%	+12.7%
Revenue & Income
Revenue	28.81B	26.26B	16.71B	10.69B	7.89B
Revenue Growth (YoY)	+9.7%	+57.2%	+56.4%	+35.5%	+78.3%
Interest & Investment Income	174.46M	193.31M	138.94M	21.33M	14.86M
Earnings From Equity Investments	67.97M	37.10M	52.65M	5.20M	8.86M
Gain (Loss) on Sale of Assets	-0.61M	5.90M	6.31M	267.44M	13.70M
Gain (Loss) on Sale of Investments	62.28M	179.11M	200.27M	-1.96M	1.27M
Currency Exchange Gain (Loss)	-64.93M	-55.98M	-38.85M	-31.57M	21.96M
Expenses & Provisions
Cost of Revenue	24.02B	22.65B	14.55B	9.58B	6.82B
Selling, General & Admin	397.93M	338.95M	251.22M	159.42M	204.67M
Operating Expenses	397.93M	338.95M	265.89M	159.42M	204.67M
Interest Expense	-100.97M	-144.77M	-119.93M	-58.76M	-54.55M
Other Non Operating Income (Expenses)	21.62M	-42.21M	46.65M	176.94M	59.13M
D&A For EBITDA	890.94M	582.99M	394.16M	420.77M	438.57M
Profitability & Returns
Gross Profit	4.79B	3.62B	2.16B	1.11B	1.07B
Gross Margin	+16.6%	+13.8%	+12.9%	+10.4%	+13.5%
EBIT	4.39B	3.28B	1.90B	0.95B	0.86B
EBIT Margin	+15.2%	+12.5%	+11.3%	+8.9%	+10.9%
EBITDA	5.28B	3.86B	2.29B	1.37B	1.30B
EBITDA Margin	+18.3%	+14.7%	+13.7%	+12.8%	+16.5%
EBT Excluding Unusual Items	4.49B	3.27B	1.98B	1.06B	0.91B
Pretax Income	4.57B	3.46B	2.19B	1.35B	1.00B
Operating Income	4.39B	3.28B	1.90B	0.95B	0.86B
Operating Margin	+15.2%	+12.5%	+11.3%	+8.9%	+10.9%
Profit Margin	+12.6%	+11.3%	+12.9%	+12.2%	+12.7%
Net Income	3.63B	2.96B	2.15B	1.30B	1.00B
Net Income to Common	3.63B	2.96B	2.15B	1.30B	1.00B
Net Income Growth	+22.5%	+37.5%	+65.2%	+30.0%	+839.0%
Earnings From Continuing Ops.	4.00B	3.11B	2.15B	1.30B	1.00B
Minority Interest in Earnings	-375.98M	-147.98M	-0.84M	-0.20M	-0.16M
Income Tax Expense	571.12M	350.39M	33.64M	41.98M	-2.52M
Effective Tax Rate	+12.5%	+10.1%	+1.5%	+3.1%	—
Per Share & Capital
EPS (Basic)	4.29	3.55	2.61	1.58	1.26
EPS (Diluted)	4.29	3.55	2.61	1.58	1.26
EPS Growth	+20.8%	+36.1%	+65.2%	+25.5%	+578.1%
Dividend Per Share	1.00	0.83	0.75	—	—
Shares Change (YoY)	0.01	0.01	—	0.04	0.38
Shares Outstanding (Basic)	844.38M	833.08M	825.00M	825.00M	796.23M
Shares Outstanding (Diluted)	844.38M	833.08M	825.00M	825.00M	796.23M
Dividend Growth	+20.5%	+10.7%	—	—	—
Free Cash Flow	1.34B	1.71B	1.68B	1.86B	1.45B
Free Cash Flow Margin	+4.6%	+6.5%	+10.0%	+17.4%	+18.4%
Free Cash Flow Per Share	1.58	2.06	2.03	2.26	1.82
Payout Ratio	+19.3%	+20.9%	—	—	+7.5%
Supplemental
Other Unusual Items	—	—	—	—	49.71M

Financials

Annual (AED)

National Marine Dredging

Annual (AED)