Abu Dhabi – Mubasher: EMSTEEL Building Materials logged 246% year-on-year (YoY) higher net profit after tax at AED 298.72 million in the first quarter (Q1) of 2026, compared to AED 86.28 million.
Revenues increased to AED 2.16 billion in Q1-26 from AED 2.15 billion as of 31 March 2025, according to the financial results.
The basic and diluted earnings per share (EPS) went up to AED 0.04 in the first three months (3M) of 2026 from AED 0.03 a year earlier.
EMSTEEL recorded total steel sales volumes, comprising finished steel products and billets, of 768,000 tons, representing a 6% YoY decline.
The decrease was partially attributable to a planned maintenance shutdown of a rolling mill in January 2026. Meanwhile, cement and clinker sales volumes increased by 32% YoY, reaching 1.10 million tons, reflecting strong demand and improved operational output during the period.
The ADX-listed group signed a five-year AED 600 million freight deal with Oldendorff Carriers to transport 5.20 million tons of iron ore pellets annually, strengthening supply reliability and logistics efficiency
Group CEO of EMSTEEL, Saeed Ghumran Al Remeithi, said: “EMSTEEL has delivered a strong start to 2026, with resilient revenue performance and significantly improved profitability driven by disciplined cost optimization and operational efficiency across the business.”
Al Remeithi continued: “Our results reflect the strength of our integrated platform and our ability to adapt to evolving market dynamics while continuing to support the UAE’s industrial growth.”
He affirmed: “While the outlook continues to evolve, we are taking a measured and flexible approach, prioritizing resilience, operational agility, and disciplined risk management to navigate uncertainty and support our customers and stakeholders.”
EMSTEEL closed 2025 with higher net profits at AED 480.88 million, while the revenues stood at AED 8.94 billion.
