Emsteel profit more than triples on higher cement sales

UAE steel and building material company Emsteel said net profit more than tripled in the first three months of 2026, driven by higher steel and cement sales and improved cost control.

The bottom line stood at AED299 million ($81 million) between January and March, up 250 percent, the company said in a statement published on the Abu Dhabi Securities Exchange (ADX) on Wednesday.

Revenues remained flat year on year at AED2.2 billion, as steel sales declined 6 percent, while cement and clinker sales increased by 32 percent.

Clinker is used in cement production.

The steel division contributed AED1.9 billion to first-quarter revenue, while the cement segment added AED269 million, up 31 percent.

Saeed Ghumran Al Remeithi, group CEO, said the company “remains attentive to potential impacts on market conditions and supply chains amid the ongoing regional developments”.

“While the outlook continues to evolve, we are taking a measured and flexible approach, prioritising resilience, operational agility, and disciplined risk management to navigate uncertainty,” he added.

Emsteel operates 14 plants, with annual production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement.

ADQ owns 87.5 percent of Emsteel, while the remaining 12.5 percent is in free float.

The shares, which trade on ADX, closed at AED1.12 on Tuesday. The stock is down 7 percent during the past 12 months.

Further reading:

• Iran war hits non-oil business across Middle East
• Deyaar revenue rises 3% despite hospitality slump
• UAE secures $5bn to support industrial expansion