NGMK Net Profit Surges 64% to US$3.5bn in 2025

Tashkent, Uzbekistan (UzDaily.com) — Net profit of Navoi Mining and Metallurgical Company (NGMK) reached US$3.5 billion in 2025, marking a 64% increase compared to US$2.1 billion in 2024.

The company’s revenue rose by 46.4% to US$10.8 billion, while operating profit grew by 58% to US$6.2 billion, up from US$3.9 billion a year earlier.

By year-end, total assets stood at US$9.7 billion, up 9.5% year-on-year, while equity increased by 12.8% to US$5.4 billion. Retained earnings reached US$5.3 billion, reflecting a 4.8% increase.

Navoi Mining and Metallurgical Company is also preparing for an initial public offering (IPO), which is expected to be conducted simultaneously on the London Stock Exchange and the domestic market.

Preliminary estimates suggest the company’s valuation, including debt obligations, could reach around US$20 billion.