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EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, on Wednesday announced its financial results for the first half of 2025. EMSTEEL reported revenues of AED4.3 billion for the first half of 2025, marking a 9 percent increase compared to the same period last year. The Group delivered strong operational performance during the period, increasing sales volumes of finished steel products by 24 percent year-on-year (YoY) to 1,616 thousand tonnes. This growth was driven by sustained momentum in the UAE’s construction sector and the Group’s solid market presence.
In H1 2025, strong demand and optimised capacity utilisation enabled the full conversion of semi-finished products into finished goods to better serve customers. Additionally, cement and clinker sales volumes rose by 21 percent YoY to 1,613 thousand tonnes. EBITDA reached AED540 million, up 6 percent YoY, with an EBITDA margin of 12.6 percent, compared to 12.8 percent in H1 2024. Margin pressure from lower prices was mitigated by improved production costs in Q2 2025, enhanced capacity utilisation, and ongoing process optimisation initiatives.
Profit after tax for H1 2025 amounted to AED188 million, compared to AED174 million for the same period last year. The Emirates Steel division contributed AED3.9 billion in revenue, representing a 7 percent increase compared to H1 2024, and generated AED449 million in EBITDA. The Emirates Cement division recorded AED428 million in revenue, reflecting 21 percent YoY growth, and generated AED91 million in EBITDA.
Within this division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process. This segment contributed AED90 million in revenue during the period. As of 30th June 2025, the Group maintained a robust net cash position of AED372 million, compared to AED337 million as of 31st December 2024.
Moreover, the Group’s revenue for Q2 2025 increased by 18 percent, and EBITDA grew by 27 percent compared to the same period last year. Eng. Saeed Ghumran Al Remeithi, Group Chief Executive Officer of EMSTEEL, said, “Our strong H1 2025 performance underscores the resilience and adaptability of EMSTEEL in an evolving global market. The 9 percent growth in revenue and continued EBITDA strength reflect our strategic focus on value-added products, operational efficiency, and domestic market leadership. We are proud of our team’s ability to convert industry headwinds into opportunities for growth and innovation.”
He added, “As we advance our decarbonisation journey, the launch of our Green Finance Framework and our strategic partnership with Magsort mark important milestones in building a more sustainable, circular steel and cement ecosystem. With a solid financial foundation, strong ESG credentials, and a clear long-term vision, EMSTEEL remains well-positioned to deliver sustainable value to all stakeholders.”