Abu Dhabi National Company for Building Materials (BILDCO), listed on the Abu Dhabi Securities Exchange (ADX), announced that its General Assembly has approved the full extinguishment of accumulated losses amounting to AED 464.1 million as of 31 March 2026.
The accumulated losses will be fully offset against the company’s general reserve of AED 931 million, allowing BILDCO to move forward with a clean balance sheet and a stronger capital base. According to the company, the decision marks a significant milestone in its financial transformation strategy and enhances its ability to pursue growth and investment opportunities.
Key highlights:
• AED 464.1 million of accumulated losses fully eliminated
• Losses offset against AED 931 million general reserve
• Remaining general reserve exceeds AED 466.9 million
• Future profits will no longer be used to cover historical losses
• Stronger capital base to support growth and expansion initiatives
BILDCO stated that the move improves the quality of its financial statements and performance indicators while enhancing the investment attractiveness of its shares by allowing future operating profits to be reflected directly in shareholders’ equity and potential returns.
The company added that the strengthened balance sheet provides greater flexibility to capitalize on investment opportunities and accelerate growth across promising sectors.
According to management, the approved resolutions represent an important milestone within BILDCO’s financial and operational transformation strategy, which is focused on enhancing operational efficiency, achieving sustainable growth, and creating long-term value for shareholders.
BILDCO was established in 1974 and is one of the UAE’s longstanding building materials companies, with a history spanning more than five decades in supporting infrastructure and construction projects across the country.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / Abu Dhabi National Co. for Building Materials (BILDCO)
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.