UAE-based EMSTEEL, one of the region’s leading publicly traded steel and building materials manufacturers, has announced its financial results for Q1 2025.
The group reported revenue of AED 2.155 bln, up slightly from AED 2.136 bln (USD 581 mln) in Q1 2024, despite a 6pct YoY drop in average steel prices and minimal sales of semi-finished products, which contributed 10pct of revenue in the same period last year.
Net profit after tax declined to AED 86.2 mln (USD 23.4 mln), compared to AED 128.2 mln in Q1 2024, reflecting ongoing export market challenges, including soft demand, pricing pressures, and rising freight costs. However, the company noted continued strength in the domestic market helped offset some of these pressures.
EMSTEEL’s steel division, Emirates Steel, contributed AED 1.96 bln (USD 533 mln) in revenue and generated AED 67 mln (USD 18 mln) in profit before tax, down from AED 95 mln in the same period last year.
The company’s operational performance remained strong, with finished steel production up 17pct YoY and sales volumes rising 21pct to 811,000 tons. Growth was supported by robust UAE construction activity and the company’s effective market positioning.
In Q1 2024, EMSTEEL sold nearly 100,000 tons of semi-finished billets. In Q1 2025, the company fully converted semi-finished products into finished goods, driven by strong demand and optimized capacity utilization.
The company credited its Q1 performance to operational strength and strategic focus. Group CEO Eng. Saeed Ghumran Al Remeithi emphasized EMSTEEL’s ongoing commitment to innovation, sustainability, and regional partnerships. He noted that investments in decarbonization, advanced manufacturing, logistics, and solar infrastructure are central to boosting competitiveness, unlocking value, and aligning with environmental goals and evolving market demands.
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