Emsteel recorded a net profit of AED 86.3 million in the first quarter of 2025, marking a 32.6% decline from AED 128.2 million in the same period last year. Despite the drop, the company maintained strong liquidity, with cash reserves rising to AED 881 million as of March 31, 2025, compared to AED 823 million at the end of 2024.

Operational performance remained robust, with finished steel production increasing 17% quarter-on-quarter and 21% year-on-year to reach 811,000 tons, driven by sustained demand in the UAE construction sector. Unlike the first quarter of 2024, when the company sold 100,000 tons of semi-finished products, the entirety of Q1 2025 production was converted into finished steel, reflecting improved capacity utilization and market positioning. Emirates Cement also saw a 17% year-on-year sales growth.

Revenue for the first quarter reached AED 2.2 billion, a 1% increase compared to the same period last year, despite a 6% decline in average steel prices and a reduced contribution from semi-finished products. EBITDA stood at AED 266 million, with a profit margin of 12.3%, down from 13.7% in Q1 2024. While lower steel prices pressured margins, increased production efficiency helped offset the impact. Profit before tax amounted to AED 94 million, while net profit after tax settled at AED 86 million.