ABU DHABI, 14th May, 2025 (WAM) -- EMSTEEL Group announced its financial results for the first quarter of 2025 on Wednesday, reporting revenues of AED2.2 billion, which marks a one percent increase compared to the same period last year.
EBITDA reached AED266 million, with an EBITDA margin of 12.3 percent compared to 13.7 percent in Q1 2024. The Emirates Steel division contributed AED1.96 billion in revenue.
The group delivered strong operational performance during the period, increasing the volume of finished steel products by 17 percent compared to production levels in 2024.
Meanwhile, the volume of finished steel product sales rose by 21 percent year-on-year (YoY) to 811,000 tonnes, supported by sustained momentum in the UAE’s construction sector and effective market positioning.
In Q1 2024, nearly 100,000 tonnes of semi-finished products (billets) were sold. However, in the first quarter of 2025, strong demand and optimised capacity utilisation enabled the full conversion of all semi-finished products into finished goods to meet customer needs. In addition, Emirates Cement recorded a 17 percent year-on-year increase in sales volumes.
Moreover, the Emirates Cement division recorded revenue of AED205 million, with EBITDA of AED40 million. Within this division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process. This segment contributed AED45 million in revenue.
As of 31st March 2025, the group maintained a robust liquidity position, with AED881 million in cash on hand, compared to AED823 million as of 31st December 2024.
In the first quarter of 2025, the group launched an AED625 million Asset Enhancement Programme aimed at enhancing production capabilities and expanding its product portfolio with high-strength, value-added steel solutions.
The group also announced a comprehensive decarbonisation strategy, targeting a 40 percent reduction in greenhouse gas emissions in its Steel Business Unit and a 30 percent reduction in its Cement Business Unit by 2030, to achieve net-zero emissions by 2050.
It signed strategic agreements with Hafeet Rail Infrastructure LLC and Minerals Development Oman (MDO) to enable sustainable cross-border transportation of up to 4.2 million tonnes of raw materials annually from Oman to the UAE.
In addition, the group partnered with Yellow Door Energy to develop the UAE’s largest industrial solar photovoltaic rooftop project—a 31.5 MWp installation spanning 40 facility roofs in ICAD 1, Abu Dhabi—with commissioning targeted for 2026.