EMSTEEL's third-quarter profit nearly doubles on higher steel prices and cement demand
UAE steelmaker EMSTEEL reported net profit of Dh190 million for the third quarter of 2026, a 99 per cent rise from a year earlier.
EMSTEEL, one of the largest listed steel and building materials makers in the region, said its revenue for the third quarter of 2026 reached Dh2.5 billion, up 15 per cent year on year. EBITDA rose 35 per cent to Dh381 million, lifting the margin to 15.3 per cent from 13.1 per cent in the same period of 2025.
The steel division's revenue grew 15 per cent to Dh2.2 billion, helped by a 17 per cent rise in average selling prices for finished steel and tighter control of selling and administrative costs. Its EBITDA margin, however, slipped from 18.2 per cent in the second quarter to 13.7 per cent, which the company linked to costlier raw material deliveries arriving through more expensive logistics routes amid the regional geopolitical situation.
The cement division posted revenue of Dh252 million, up 12 per cent, and EBITDA of Dh75 million, up 44 per cent. Steel sales volumes fell 5 per cent to 770,000 tonnes, mainly because of constraints on exports of heavy sections and sheet piles, while cement and clinker volumes rose 12 per cent to 921,000 tonnes.