Abu Dhabi National Co. for Building Materials, known as Bildco, has eliminated accumulated losses totaling more than Dh464 million after shareholders approved a major balance sheet restructuring, a move the company described as a significant milestone in its 50-year history.
The decision was endorsed during the company’s General Assembly meeting on Saturday and clears accumulated losses of Dh464.078 million recorded as of March 31, 2026. The losses were fully offset against Bildco’s general reserve, which stood at Dh931 million, allowing the company to emerge with a substantially strengthened financial position.
The restructuring leaves the Abu Dhabi Securities Exchange-listed company with a clean balance sheet and removes a long-standing burden that had weighed on its financial performance. Company officials said the development marks the beginning of a new phase focused on growth, profitability and long-term sustainability.
With historical losses now eliminated, future earnings will no longer be used to absorb past deficits. Instead, profits generated from ongoing operations can be reflected directly in shareholders’ equity, potentially improving investor returns and creating greater flexibility for future dividend distributions.
Even after absorbing the accumulated losses, Bildco retains more than Dh466.9 million in its general reserve. The remaining reserve provides the company with financial resources that could support expansion plans, acquisitions or other strategic investments without the need for significant external financing.
Management said the restructuring strengthens the company’s financial foundation and enhances the attractiveness of its shares to investors. It also improves the quality and transparency of the company’s financial statements by removing legacy losses from its accounts.
Founded in 1974, Bildco has played a longstanding role in the UAE’s construction and infrastructure sectors. The company supplies a broad range of building materials and construction products and has participated in numerous large-scale development projects across the country. Over the decades, it has evolved into an integrated provider of solutions for the construction industry.
The loss-elimination plan has been in development for several months. Bildco’s board of directors initially approved the proposal in November 2025, and shareholders ratified the plan during a General Assembly meeting in December. The final approval received this week completed the process.
Company executives said the balance sheet restructuring forms part of a broader programme aimed at improving operational efficiency and strengthening long-term performance. The initiative is intended to position Bildco for future growth while creating additional value for shareholders.
The move comes as listed companies across the region continue to focus on strengthening financial positions and improving returns amid a competitive business environment. For Bildco, the removal of accumulated losses represents a fresh starting point as it seeks to build on its five decades in business and pursue new opportunities in the construction and building materials market.
