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Project execution, restructuring recovery drive Drake & Scull to Dh47 million profit in 2025
Revenue for the year more than doubled to Dh223.8 million, up 116 per cent from Dh103.6 million in 2024, supported by accelerated project execution and the conversion of its order book into recognised income
- PUBLISHED: Tue 17 Mar 2026, 12:02 PM
Engineering and construction group Drake & Scull International reported a net profit of Dh47 million for 2025, marking a return to normalized profitability following its restructuring phase. This compares to a net profit of Dh3.76 billion in 2024, which was largely driven by a one-off restructuring gain of Dh3.79 billion.
Revenue for the year more than doubled to Dh223.8 million, up 116 per cent from Dh103.6 million in 2024, supported by accelerated project execution and the conversion of its order book into recognised income.
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The company’s performance was underpinned by steady progress across infrastructure projects in the UAE, alongside strong growth in its water and wastewater business under its Passavant unit, which recorded an increase in turnover of around 83 per cent year-on-year. New project awards worth approximately Dh410 million during the year further supported revenue visibility.
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Drake & Scull’s total assets stood at Dh610.8 million as of December 31, 2025, down 6 per cent from Dh647 million a year earlier, reflecting balance sheet optimisation and selective asset rationalisation. However, total equity rose 29 per cent to Dh195.4 million, supported by retained earnings and an improved capital structure.
Cash and bank balances reached Dh235 million at year-end, providing the group with liquidity to support operations and future growth plans.
During the year, the company also advanced its diversification strategy with the launch of its real estate development arm and progress on its Majan project in Dubai, which is expected to be officially launched in the first half of 2026.
Sheikh Theyab bin Tahnoon Al Nahyan, chairman of the board, said the company’s 2025 performance reflects a successful transition from restructuring to operational recovery, with a stronger balance sheet and renewed focus on sustainable growth.
Muin El Saleh, the group’s CEO, said the results were driven by disciplined execution and improved operational efficiency across the business, positioning the company to build further momentum in its contracting and development activities.
The group said it will focus on expanding its core contracting and water infrastructure operations, while scaling its development platform and pursuing selective partnerships. The company added that its strong cash position and contingency planning would help it navigate regional uncertainties while maintaining long-term growth.
Hind Aldah is a business reporter based in Sharjah. In her spare time, you will find her playing classical guitar, painting amateur oil paintings, or crocheting the same old scarf that leads nowhere.