UAE-based EMSTEEL, one of the region’s largest publicly listed steel and building materials manufacturers, has announced its preliminary (unaudited) financial results for the first half of 2025.
The group recorded revenues of AED 4.3 bln (USD 1.17 bln), marking a 9pct YoY increase. This growth came despite a 4pct decline in average steel prices and a strategic shift in focus towards higher-margin finished products. The company has gradually phased out semi-finished product sales, which contributed 9pct of the steel division’s revenue in H1 2024.
Profit after tax for H1 2025 rose to AED 188 mln (USD 51.1 mln), up from AED 174 mln in the same period last year. EMSTEEL attributed this performance to improved production costs in Q2 2025, higher capacity utilization, and ongoing process optimization efforts, which helped offset pricing pressure.
Group EBITDA reached AED 540 mln (USD 147 mln), up 6pct YoY. The steel division alone generated AED 449 mln (USD 122 mln) in EBITDA.
The Emirates Steel division posted revenues of AED 3.87 bln (USD 1 bln), a 7pct increase compared to H1 2024. Operating profit for the division came in at AED 166.3 mln (USD 45.2 mln), slightly down from AED 168.3 mln in the prior-year period.
The Emirates Cement division delivered strong performance, with revenue rising 21pct YoY to AED 428 mln (USD 116.5 mln) and EBITDA reaching AED 91 mln (USD 24.7 mln). Within this division, the Pipes & Other segment, currently classified as ‘assets held for sale’ due to an ongoing divestment process, contributed AED 90 mln (USD 24.5 mln) in revenue.
In Q2 2025 alone, EMSTEEL posted revenue of AED 2.14 bln (USD 580 mln), an 18pct increase from the same quarter last year. Net profit more than doubled to AED 101.7 mln (USD 27.6 mln), compared to AED 46 mln in Q2 2024. The strong quarterly performance was supported by the same drivers as H1 results, in addition to a low base effect due to weather-related disruptions in Q2 2024.
Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, noted that the company’s strong first-half performance in 2025 reflected its resilience and adaptability amid a shifting global landscape. He emphasized that the 9pct revenue growth and solid EBITDA results underscored EMSTEEL’s strategic emphasis on value-added products, operational efficiency, and maintaining its leadership in the domestic market.
Headquartered in Abu Dhabi, EMSTEEL has a production capacity of 3.5 mln tons of steel and 4.6 mln tons of cement annually. The group exports to over 70 markets, accounting for 30pct of its sales. The company offers a diverse range of steel products, including wire rod, rebar, heavy sections, and sheet piles.
1 USD / 3.67 AED
