Abu Dhabi’s EMSTEEL Sees 6% Rise in First-Half Revenue to $1.2 Billion
Abu Dhabi-based steel and construction materials company EMSTEEL reported a 9% increase in revenue in the first half of the year, reaching $1.2 billion (AED 4.3 billion), even though global steel prices continued to fall and the industry faced challenges.
First-Half Results
EMSTEEL made a profit of $51.2 million (AED 188 million) after tax—8% more than the same time last year, according to its earnings report released on Wednesday.
The revenue growth came despite a 4% drop in average steel prices. The company shifted its focus to selling more finished products and cutting down on semi-finished goods, which made up only 9% of its steel revenue in the first half of 2024.
Sales of finished steel products went up by 24% to 1.6 million tonnes, thanks to strong demand in the UAE construction industry.
Cement and clinker sales also rose 21% to 1.6 million tonnes. This was supported by strong demand and better use of factory capacity, allowing more semi-finished goods to be turned into finished products.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 6% to $147 million (AED 540 million), with a profit margin of 12.6%. Although prices were lower, improved production costs and higher output helped maintain profitability.
EMSTEEL’s steel division earned $1.1 billion (AED 3.9 billion), up 7% from last year. Its cement division brought in $116.5 million (AED 428 million), a 21% increase. The pipes segment within the cement division made $24.5 million (AED 90 million).
New Developments
In May, EMSTEEL partnered with Finland’s Magsort to make eco-friendly cement at its Al Ain plant using 10,000 tonnes of material that cuts carbon emissions by reusing steel slag.
The company also introduced its first green finance plan, allowing it to issue green bonds and loans to fund low-carbon steel and cement projects.
EMSTEEL received a provisional “AA” ESG (Environmental, Social, and Governance) rating from MSCI, showing that its carbon-reducing efforts are stronger than most in the industry.
Published: 31th July 2025
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