NMDC Energy Joins FADXI15 Index for Islamic Finance Compliance.

ABU DHABI: NMDC Energy PJSC (ADX: NMDCENR), a provider of engineering, procurement, and construction services for offshore and onshore energy clients, has been listed on the FADXI15 index, a Shari'ah-compliant index for global Islamic investors. This inclusion makes NMDC Energy part of a select group of 15 listed entities, furthering its reputation in the Islamic finance sector. According to Emirates News Agency, the FADXI15 index was launched by FTSE Russell, an LSEG business, and the Abu Dhabi Securities Exchange (ADX) to strengthen ADX's position in the GCC region and to set new benchmarks for the market. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, emphasized the importance of this achievement, stating that it highlights the company's significant growth and commitment to Islamic finance. Following a successful IPO, NMDC Energy reported a 145 percent increase in net profit for the three months ending 30th September 2024, marking a pivotal moment as the company joins other Abu Dhabi entities in promoting Is lamic finance and enhancing its accessibility. The company's financial performance for the quarter ending 30th September 2024 includes a net profit rise from AED164 million to AED402 million, driven by robust operational performance and strategic expansion. Revenues increased by 110 percent, reaching AED3.975 billion compared to the same period in 2023. Over the nine-month period, NMDC Energy reported a net profit of AED904 million, a 122 percent increase from the previous year, with revenue reaching an all-time high of AED9.78 billion, up 96 percent from 2023. ADX's market capitalization of Shari'ah-compliant financial instruments exceeds AED2 trillion (US$549 billion), reflecting its commitment to advancing the capital market. By introducing innovative Shari'ah-compliant products, ADX aims to meet diverse investor needs and expand its financial offerings to provide more opportunities.