Abu Dhabi Future Energy Company - Masdar (MASDAR) H1 2026 earnings summary

Executive summary

• H1 2026 revenue was AED 3.426bn and profit AED 323.8m, compared with AED 1.730bn and AED 48.8m in H1 2025.

• Total comprehensive income fell to AED 59.2m from AED 1.786bn, as H1 2025 benefited from markedly different foreign-currency translation and derivative movements.

Financial highlights

• Revenue rose to AED 3.426bn from AED 1.730bn; gross profit increased to AED 1.137bn from AED 722.3m.

• Profit before tax reached AED 496.6m versus AED 56.6m; income tax expense was AED 172.8m versus AED 7.9m.

• Profit for the period was AED 323.8m versus AED 48.8m; attributable to equity holders, profit was AED 324.6m versus AED 49.9m.

• Operating cash flow increased to AED 795.2m from AED 233.6m; net cash used in investing was AED 5.944bn versus AED 2.508bn.

Outlook and guidance

• Solar and wind output varies by season and geography; interim operating profits are not indicative of full-year operating profits.

• July financial close for the Abu Dhabi RTC project’s North Site followed the reporting period; the event was treated as non-adjusting.