Photo Credit : WAM
Abu Dhabi-based EMSTEEL reported revenue of AED2.2 billion for the first quarter of 2026, maintaining performance levels broadly in line with the same period last year while delivering a significant rise in profitability.
The company announced EBITDA of AED483 million for Q1 2026, marking an 82 percent year-on-year increase. EBITDA margin also climbed to 22.3 percent, compared to 12.3 percent during the first quarter of 2025.
EMSTEEL attributed the stronger performance to lower raw material costs, continued optimisation initiatives, improved selling prices for finished steel products, and disciplined cost management across its operations. Average selling prices for finished steel products increased by 3 percent year-on-year and 1 percent compared to the previous quarter.
Net profit surged to AED299 million, reflecting a 246 percent increase compared to Q1 2025.
The group’s steel division generated revenues of AED1.90 billion and EBITDA of AED403 million during the quarter, representing a 79 percent increase year-on-year.
Meanwhile, the cement division reported revenue of AED269 million, up 31 percent year-on-year, while EBITDA doubled to AED80 million. On a like-for-like basis, excluding the Pipes & Other segment divested in December 2025, the cement division’s EBITDA rose by 169 percent compared to the same period last year.
EMSTEEL recorded total steel sales volumes of 768,000 tonnes during the quarter, including finished steel products and billets, representing a 6 percent decline year-on-year. The company said the decrease was partly linked to a planned maintenance shutdown at one of its rolling mills in January 2026.
In contrast, cement and clinker sales volumes rose by 32 percent year-on-year to 1.1 million tonnes, supported by strong market demand and improved operational output.
Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, said the company delivered a solid start to the year with resilient revenues and improved profitability driven by operational efficiency and cost optimisation.
He added that EMSTEEL remains focused on maintaining resilience and operational agility amid evolving regional market conditions and supply chain developments, while continuing to support the UAE’s industrial growth ambitions.
