EMSTEEL has announced its financial results for the first half of 2025. The company recorded growth in both production and sales, and ended the period with a solid cash position.
Sales of finished steel products rose by 24% y/y to 1,616 thousand tonnes, while sales of cement and clinker grew by 21% to 1,613 thousand tonnes. The company attributed this growth to strong domestic demand and full utilization of production capacity.
Despite a 4% y/y drop in average steel prices and a decline in semi-finished product sales, total revenue increased by 9% to AED 4.3 billion (USD 1.17 billion). EMSTEEL reported an EBITDA of AED 540 million (USD 147 million) for the period. Net profit stood at AED 188 million (USD 51 million), up from AED 174 million (USD 47 million) in the same period last year.
The group’s main subsidiary, Emirates Steel Arkan, generated AED 3.9 billion (USD 1.06 billion) in revenue. The cement business contributed AED 428 million (USD 116.5 million) in revenue and AED 91 million (USD 24.7 million) in EBITDA. Other non-core operations held for sale added AED 90 million (USD 24.5 million) in revenue.
As of the end of June 2025, EMSTEEL maintained a strong net cash position of AED 372 million (USD 101 million). In the second quarter alone, revenue rose by 18%, while EBITDA increased by 27% compared to the same period last year. This improvement was partly driven by a low base in Q2 2024, which was affected by adverse weather conditions.
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