EMSTEEL recently released its financial results for the first half of 2025 and said that despite the challenges faced by the global steel industry, the company’s strong performance showcases its resilience and continued progress in solidifying its market leadership in the UAE.
The group demonstrated robust operational performance during the period, witnessing a significant 24% year-on-year (YoY) increase in sales volumes of finished steel products. This growth was primarily driven by the sustained momentum in the UAE’s construction sector and the group’s strong market presence. In the first half of 2025, strong demand and optimised capacity utilisation enabled the complete conversion of semi-finished products into finished goods, enhancing customer satisfaction. Cement and clinker sales volumes experienced a notable 21% YoY increase, reaching 1,613 thousand tonnes, the firm said in its statement.
Despite a 4% YoY decline in average steel prices and a strategic shift towards prioritising the sale of finished products and phasing out the sale of semi-finished products in the first half of 2025, which accounted for 9% of the steel division’s revenue in the first half of 2024, EMSTEEL reported revenues of $1.17bn for the first half of 2025, representing a 9% increase 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% 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”.
EBITDA reached $147mn, up 6% YoY, with an EBITDA margin of 12.6%, compared to 12.8% in the first half of 2024. Margin pressure from lower prices was mitigated by improved production costs in the second quarter of 2025. Profit after tax for the first half of 2025 amounted to $51.14mn, compared to $47.33mn for the same period last year.

The Emirates Steel division generated $1.06bn in revenue, a 7% increase compared to the same period in 2024, and reported an EBITDA of $122.23mn. The Emirates Cement division, on the other hand, recorded $116.42mn in revenue, showcasing a 21% year-over-year growth, and generated an EBITDA of $24.75mn. Within the cement division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process, contributing $24.48mn in revenue during the period.
As of 30 June 2025, the group maintained a net cash position of $101.18mn, an improvement from the $91.66mn recorded as of 31 December 2024. The group’s revenue for Q2 2025 experienced a significant growth of 18%, while EBITDA grew by 27% compared to the same period last year. This strong financial performance was driven by the same factors that contributed to the positive results in the first quarter of 2025, with the addition of a low base effect from Q2 2024, when EMSTEEL’s operations were partially impacted by adverse weather conditions.
EMSTEEL received a provisional ‘AA’ ESG rating from MSCI, positioning the company at the forefront of environmental and social risk management. This rating underscores EMSTEEL’s commitment to responsible carbon reduction efforts and exceptional workforce health and safety practices.
The firm said it has taken a step forward by signing a strategic partnership with Finland’s Magsort. This partnership aims to produce decarbonised cement, following the pilot conducted at its Al Ain plant. During the pilot, 10,000t of materials were used, which reduced carbon emissions. These materials were developed by incorporating steel-slag. This milestone strengthens EMSTEEL’s circular economy model and supports its 2030 and 2050 decarbonisation targets across the steel and cement value chains.
EMSTEEL has also launched its inaugural Green Finance Framework, which facilitates the issuance of green bonds and loans to finance projects that promote low-carbon steel and cement production. This initiative, aligned with global standards, strengthens EMSTEEL’s sustainability strategy and contributes to its long-term Net Zero objectives.
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Source: ME Construction News