During this period, finished steel production rose by 17%, while total sales volume increased by 21%, reaching 811,000 tons. In 2024, the company sold around 100,000 tons of semi-finished products (billets); however, this year, thanks to more efficient use of production capacity, all semi-finished products were converted into finished goods and brought to market. Emirates Cement also recorded a 17% increase in sales.
Financial results
The company’s earnings before interest, tax, depreciation and amortization (EBITDA) reached AED 266 million (USD 72 million), with an EBITDA margin of 12.3% (down from 13.7% in 2024). Despite a 6% decline in steel prices, effective utilization of production capacity helped limit the margin contraction. Profit before tax was reported at AED 94 million (USD 25 million), and net profit stood at AED 86 million (USD 23.5 million).
Revenue distribution by segment was as follows: Emirates Steel generated AED 1.96 billion (USD 534 million) in revenue and AED 226 million (USD 61.6 million) in EBITDA, while Emirates Cement reported AED 205 million (USD 55.8 million) in revenue and AED 40 million (USD 10.9 million) in EBITDA. The “Pipes & Other” unit, currently in the process of being sold, was classified as “Assets Held for Sale” and recorded AED 45 million (USD 12.3 million) in revenue.
Investments and sustainability initiatives
As of the end of March 2025, the company’s cash position increased by AED 58 million (USD 15.8 million) year-over-year, reaching AED 881 million (USD 240 million).
During the same period, Emsteel launched a new investment program with a budget of AED 625 million (USD 170 million). This program aims to expand the production of high-strength and value-added steel products. The company also plans to establish a new wire rod mill with an annual capacity of 500,000 tons.
Additionally, Emsteel aims to reduce greenhouse gas emissions from steel production by 40% and emissions from cement production by 30% by 2030, with a target of achieving net-zero emissions by 2050. In line with these goals, agreements have been signed with Hafeet Rail Infrastructure and Minerals Development Oman to promote sustainable logistics. Moreover, in partnership with Yellow Door Energy, a 31.5 MWp rooftop solar system will be installed on 40 factories located in the ICAD 1 area of Abu Dhabi.
Statement from the CEO
Emsteel CEO Eng. Saeed Ghumran Al Remeithi stated, “Our strong performance in the first quarter of 2025 is a testament to our strategic vision and operational excellence. Through innovation, sustainability, and regional partnerships, we are taking firm steps toward the future.” He also emphasized that the company’s investments in production infrastructure are aligned with environmental responsibility and support a long-term, competitive growth model.
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