Financial performance for the third quarter and the first nine months ended 30 September 2025 showed clear momentum, as the company continued executing a high-quality backlog supported by disciplined project selection and stronger operating leverage. During the first nine months, revenue rose 66 percent year on year to AED 8.9 billion, driven by solid project conversion across key sectors such as hotels and data centres.
Momentum increased further in the third quarter, since revenue grew 82 percent year on year to AED 3.5 billion. Performance remained strong in both the UAE and Saudi Arabia, creating a broader base for sustained expansion.
Segment Performance Shows Broad-Based Acceleration
The Building and Construction segment led overall results, contributing nearly 48 percent of total revenue. Revenue for the first nine months increased 77 percent year on year to AED 4.8 billion, and third quarter revenue more than doubled to nearly AED 2.0 billion.
Meanwhile, the Energy Solutions segment accounted for 32 percent of revenue and continued gaining scale. During the first nine months, revenue climbed 75 percent year on year to AED 3.2 billion, and third quarter revenue rose 82 percent to AED 1.2 billion as the business deepened its presence in major energy infrastructure projects.
Related Businesses, which include fitout, MEP, data centre solutions, and modular construction, generated AED 2.0 billion in the first nine months. Revenue grew 45 percent year on year, while third quarter revenue increased 62 percent to AED 858 million. These results signal ongoing demand for integrated and higher-margin services across the group.
Profitability also strengthened. Gross profit rose 56 percent year on year to AED 859 million during the first nine months, with margins remaining healthy at 9.6 percent. Although slightly lower than the previous year, the shift mainly reflects changes in revenue mix. In the third quarter, gross profit increased 65 percent to AED 323 million with a margin of 9.1 percent.
EBITDA performance remained robust as well. For the first nine months, EBITDA reached AED 706 million, an 83 percent year-on-year increase, and the margin improved to 7.9 percent. Third quarter EBITDA increased 88 percent to AED 277 million, supported by strong operational leverage and careful cost management.
Net profit more than doubled, rising 116 percent year on year to AED 432 million for the period, with net margin advancing from 3.7 percent to 4.8 percent. In the third quarter, net profit surged 172 percent to AED 193 million, reflecting enhanced project delivery and efficient management of working capital and financial costs.
Outlook Supported by Expanding Pipeline
Barry Lewis, Chief Executive Officer, said: “Our sustained strong performance in the first nine months of 2025 reflects the strength of ALEC’s integrated platform and the success of our focused strategy. We are executing a high-quality backlog with discipline while expanding in sectors that play to our strengths, including energy infrastructure and data centres and airports.”
Looking ahead, the company sees a growing pipeline of major and nationally significant projects moving into the execution phase. Additionally, there is a multi-year growth outlook for data centres in the UAE and Saudi Arabia, supported by national artificial intelligence strategies and new hyperscale initiatives. With its unified delivery model and ongoing work on Phase 1 of Stargate in Abu Dhabi, the company is increasingly positioned as a preferred partner for hyperscale and artificial intelligence-driven data centre development across the region.
