Latest news with #EmiratesCement
ME Construction
02-06-2025
- Business
- ME Construction
EMSTEEL partners with Magsort to produce decarbonised cement
Sustainability EMSTEEL partners with Magsort to produce decarbonised cement By EMSTEEL has said that it has achieved a significant milestone in its decarbonisation journey by entering into a strategic partnership with Finnish company Magsort to produce decarbonised cement. The partnership builds upon the group's success in implementing an industrial scale pilot for decarbonised cement production at its Al Ain facility. The pilot utilised 10,000t of […] EMSTEEL has said that it has achieved a significant milestone in its decarbonisation journey by entering into a strategic partnership with Finnish company Magsort to produce decarbonised cement. The partnership builds upon the group's success in implementing an industrial scale pilot for decarbonised cement production at its Al Ain facility. The pilot utilised 10,000t of materials that reduce carbon, which were developed by incorporating steel slag, a statement from the company explained. The pilot project is said to provide a unique use-case for complementary operations between its two main business lines: Steel and Cement. This is achieved by incorporating steel slag at scale as raw material for clinker and cement production, reinforcing the group's commitment towards driving sustainability in the sector. Due to its diverse product range, EMSTEEL in uniquely positioned to pioneer a viable and practical circular economy case study. This simultaneously underscores EMSTEEL's strategic capability to expedite decarbonisation efforts across diverse sectors and strengthens its standing as a regional sustainability leader, setting new benchmarks for industrial innovation in developing low-carbon cement, the statement explained. To meet the growing demand for low-carbon cement in the local market, the company has set its sights on constructing an integrated line at its Al Ain plant. This line will process steel residue and refine materials sourced from EMSTEEL's steel plant in Abu Dhabi. This initiative marks a significant step forward, and it is anticipated to directly reduce Scope 1 carbon dioxide emissions. Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL said, 'This is a proud moment for EMSTEEL and a strong signal of what is possible when innovation meets ambition. By transforming steel slag into a valuable input for cement, we are not only cutting emissions but also proving the commercial value of industrial circularity. Our integrated model is unlocking real results, and this milestone is a testament to our commitment to accelerate our decarbonisation journey and help deliver the UAE's Net Zero vision.' Hugo Losada, CEO of Emirates Cement, part of EMSTEEL Group added, 'This milestone represents an important step in our decarbonisation journey. Proving the technical and commercial viability of this decarbonisation effort is a promising sign that we will be able to achieve our objective of hitting the 2030 decarbonisation targets by 2026. We look forward to continuing this very fruitful co-operation with Magsort over the years to come.' Kalevi Kostiainen, CEO of Magsort remarked, 'We are extremely happy in achieving this key milestone in Abu Dhabi. The co-operation with Emirates Cement has been incredibly productive and this facility serves as a large-scale example for the industry on how to achieve significant CO₂ reduction with today's technology and existing materials. It's a clear win-win for the cement and steel industries. We would like to thank Emirates Cement for leading the way and taking action.' This initiative is a core component of EMSTEEL's decarbonisation strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and by 30% reduction in its Cement Business Unit by 2030, using 2019 as the baseline year. EMSTEEL remains firmly committed to reaching net-zero emissions by 2050, the statement concluded.
Gulf Business
16-05-2025
- Business
- Gulf Business
UAE's EMSTEEL reports Dhs2.2bn Q1 revenue, launches upgrade programme
Image: Supplied One of the largest publicly traded steel and building materials manufacturers in the region, The group's strong operational performance saw finished goods steel production rise 17 per cent and sales volumes increase 21 per cent YoY to 811,000 tonnes, buoyed by robust construction activity in the UAE and effective market positioning. In contrast to Q1 2024, when nearly 100,000 tonnes of billets were sold, all semi-finished products in Q1 2025 were converted into finished goods to meet customer demand. EMSTEEL divisional highlghts Sales volumes for Emirates Cement also grew 17 per cent YoY. Despite a 6 per cent drop in average steel prices and the absence of billet sales — which accounted for 10 per cent of Q1 2024 revenue — EMSTEEL posted Dhs266m in EBITDA, with an EBITDA margin of 12.3 per cent, compared to 13.7 per cent in the prior-year period. Profit before tax stood at Dhs94m, while net profit after tax was Dhs86m. The Emirates Steel division contributed Dhs1.96bn in revenue and Dhs226m in EBITDA. Emirates Cement generated Dhs205m in revenue and Dhs40m in EBITDA. Within the cement division, the Pipes & Other segment, currently under divestment and reported as Assets Held for Sale, contributed Dhs45m in revenue. As of March 31, EMSTEEL reported a strong liquidity position with Dhs881m in cash on hand, up from Dhs823m at year-end 2024. The group also announced the launch of a Dhs625m Asset Enhancement Programme aimed at upgrading rolling mills and expanding its portfolio to include high-strength steel products such as ES600 and ASTM Grade 80/100 rebars. Plans also include installing a new 500 KTPA wire rod outlet. Comprehensive decarbonisation roadmap revealed Additionally, EMSTEEL revealed its comprehensive decarbonisation roadmap, targeting a 40 per cent reduction in greenhouse gas emissions from its steel business and a 30 per cent reduction from its cement business by 2030, with net-zero emissions set for 2050. Strategic agreements signed with Hafeet Rail Infrastructure and Minerals Development Oman (MDO) will facilitate sustainable cross-border transport of up to 4.2 million tonnes of raw materials annually from Oman to the UAE. The group also partnered with 'EMSTEEL's performance in Q1 2025 underscores our ability to deliver consistent value through operational excellence and strategic foresight,' said Engineer Saeed Ghumran Al Remeithi, group CEO. 'Our strategic investments — ranging from decarbonisation and advanced production upgrades to regional logistics and solar infrastructure—demonstrate our long-term vision for sustainable, shareholder-driven growth.'
Zawya
14-05-2025
- Business
- Zawya
Emsteel delivers $599mln revenue for Q1
UAE - Emsteel, one of the largest publicly traded steel and building materials manufacturers in the region, reported revenues of AED2.2 billion ($599 million) for Q1 2025, representing a 1% increase compared to the same period last year. EBITDA reached AED266 million, with an EBITDA margin of 12.3%, compared to 13.7% in Q1 2024. Margin pressure from lower prices was mostly offset by improved capacity utilisation. Profit before tax was AED94 million, with net profit after tax amounting to AED86 million. The group's resilient performance reflects strategic agility and a sharpened focus on strengthening the UAE's domestic market position amid rising global economic headwinds, the group said. Financial and operational highlights for Q1 2025: • The group delivered strong operational performance during the period, increasing the volume of finished goods steel production by 17% compared to the levels produced in 2024. On the other hand, the volume of finished goods steel sales increased by 21% year-on-year to 811,000 tonnes, supported by continued momentum in the UAE's construction activity and effective market positioning. In Q1 2024, almost 100,000 tonnes of semi-finished products (billets) were sold. In Q1 2025, strong demand combined with optimised capacity utilisation allowed the conversion of all semi-finished products into finished products to serve our customers. Furthermore, sales volumes for Emirates Cement increased by 17% YoY. • The Emirates Steel division contributed AED1.96 billion in revenue, generating AED226 million in EBITDA. • The Emirates Cement division recorded revenue of AED205 million, with EBITDA of AED40 million. Within this division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process. This segment contributed AED 45 million in revenue. • As of 31 March 2025, the group maintained a robust liquidity position, with AED881 million in cash on hand, compared to AED823 million as of 31 December 2024. Strategic highlights for Q1 2025: • Launched an AED625 million Asset Enhancement Programme to enhance production capabilities and expand its product portfolio with high-strength, value-added steel solutions. The programme includes advanced upgrades to rolling mills, focusing on ES600 and ASTM Grade 80/100 rebars, and the future installation of a 500 KTPA new wire rod outlet. • Announced its comprehensive decarbonisation strategy, targeting a 40% reduction in GHG emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, with a goal of net-zero emissions by 2050. • Signed strategic agreements with Hafeet Rail Infrastructure LLC and Minerals Development Oman (MDO) to enable sustainable cross-border transportation of up to 4.2 million tons of raw materials annually from Oman to the UAE. • Partnered with Yellow Door Energy to develop the UAE's largest industrial solar PV rooftop project - a 31.5 MWp installation across 40 facility roofs in ICAD 1, Abu Dhabi, with commissioning targeted for 2026. Eng Saeed Ghumran Al Remeithi, Group Chief Executive Officer, Emsteel, said: 'Emsteel's performance in Q1 2025 underscores our ability to deliver consistent value through operational excellence and strategic foresight. Amid a shifting global landscape, we continue to invest in innovation, sustainability, and regional partnerships that future-proof our business and reinforce our commitment to the UAE's industrial growth.' He added: 'Our strategic investments — ranging from decarbonisation and advanced production upgrades to regional logistics and solar infrastructure — demonstrate our long-term vision for sustainable, shareholder-driven growth. These initiatives are designed not only to strengthen our competitiveness, but also to unlock value across the business as we continue to align operational execution with environmental responsibility and market demand.' Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Emsteel delivers $599m revenue for Q1
Emsteel, one of the largest publicly traded steel and building materials manufacturers in the region, reported revenues of AED2.2 billion ($599 million) for Q1 2025, representing a 1% increase compared to the same period last year. EBITDA reached AED266 million, with an EBITDA margin of 12.3%, compared to 13.7% in Q1 2024. Margin pressure from lower prices was mostly offset by improved capacity utilisation. Profit before tax was AED94 million, with net profit after tax amounting to AED86 million. The group's resilient performance reflects strategic agility and a sharpened focus on strengthening the UAE's domestic market position amid rising global economic headwinds, the group said. Financial and operational highlights for Q1 2025: • The group delivered strong operational performance during the period, increasing the volume of finished goods steel production by 17% compared to the levels produced in 2024. On the other hand, the volume of finished goods steel sales increased by 21% year-on-year to 811,000 tonnes, supported by continued momentum in the UAE's construction activity and effective market positioning. In Q1 2024, almost 100,000 tonnes of semi-finished products (billets) were sold. In Q1 2025, strong demand combined with optimised capacity utilisation allowed the conversion of all semi-finished products into finished products to serve our customers. Furthermore, sales volumes for Emirates Cement increased by 17% YoY. • The Emirates Steel division contributed AED1.96 billion in revenue, generating AED226 million in EBITDA. • The Emirates Cement division recorded revenue of AED205 million, with EBITDA of AED40 million. Within this division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process. This segment contributed AED 45 million in revenue. • As of 31 March 2025, the group maintained a robust liquidity position, with AED881 million in cash on hand, compared to AED823 million as of 31 December 2024. Strategic highlights for Q1 2025: • Launched an AED625 million Asset Enhancement Programme to enhance production capabilities and expand its product portfolio with high-strength, value-added steel solutions. The programme includes advanced upgrades to rolling mills, focusing on ES600 and ASTM Grade 80/100 rebars, and the future installation of a 500 KTPA new wire rod outlet. • Announced its comprehensive decarbonisation strategy, targeting a 40% reduction in GHG emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, with a goal of net-zero emissions by 2050. • Signed strategic agreements with Hafeet Rail Infrastructure LLC and Minerals Development Oman (MDO) to enable sustainable cross-border transportation of up to 4.2 million tons of raw materials annually from Oman to the UAE. • Partnered with Yellow Door Energy to develop the UAE's largest industrial solar PV rooftop project - a 31.5 MWp installation across 40 facility roofs in ICAD 1, Abu Dhabi, with commissioning targeted for 2026. Eng Saeed Ghumran Al Remeithi, Group Chief Executive Officer, Emsteel, said: 'Emsteel's performance in Q1 2025 underscores our ability to deliver consistent value through operational excellence and strategic foresight. Amid a shifting global landscape, we continue to invest in innovation, sustainability, and regional partnerships that future-proof our business and reinforce our commitment to the UAE's industrial growth.'
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Emsteel delivers $2.26bn in revenue for 2024
Emsteel, one of the largest publicly traded steel and building materials manufacturers in the region, has delivered total revenues of AED8.3 billion ($2.26 billion) for financial year 2024, approximately 6% lower than the AED8.9 billion reported for 2023. This decrease in revenue is due to various factors, including fluctuations in global steel prices, increased competition, and changing demand trends driven by economic uncertainties in key markets, the company said. Despite the challenging market environment Emsteel realised a solid profit before tax of AED432 million and a net profit after tax of AED392 million. The net profit was supported by the reversal of an impairment taken during Covid, with a net positive impact of AED189 million. Financial highlights for 2024: • During 2024, Emsteel maintained overall steel production volumes in line with the level attained during 2023. • Emsteel's profitability margins have been affected by an increase in low-priced Chinese steel exports, which have directly or indirectly impacted prices in several of the group's key markets, including the GCC and important export destinations like Europe and the US. * The group further strengthened its balance sheet, realising a positive net cash generation of AED401 million resulting in a balance sheet free of net debt. • In 2024, Emsteel recorded EBITDA of AED892 million, with a margin of 10.9%, compared to 14.2% in 2023. Emsteel's FY24 profitability was supported by a significant improvement of the group's EBITDA during the fourth quarter of the year, amounting to AED247 million, up 81% compared to the third quarter of 2024. One of the key factors was Emsteel's ability to leverage increased UAE construction activity, which supported rebar demand and allowed the group to maximise capacity utilisation, while at the same time improving price realisation in this core segment. • Revenue from the group's Emirates Steel division totalled AED7.6 billion during 2024, generating an EBITDA of AED680 million. Emirates Steel's performance was impacted by adverse global market conditions. • Revenue from the group's Emirates Cement division was AED0.8 billion in 2024, with an EBITDA of AED212 million. Within the Cement division the Pipes & Other segment is reported as assets held for sale as a divestment process is ongoing. Revenue for this segment amounted to AED156 million in 2024. • As of the end of 2024, the group continues to maintain a robust liquidity position, with AED823 million cash in hand compared to AED426 million as of 31 December 2023. Hamad Al Hammadi, Chairman, Emsteel, said: '2024 has been a year of transformation for Emsteel. With the evolution of our corporate identity and our key business divisions, our team has demonstrated exceptional adaptability and focus, enabling us to deliver innovative solutions and services, and to continue creating value for our stakeholders. These efforts reaffirm our vision to lead the industry toward a low-carbon future while strengthening our position as the UAE's largest publicly traded steel and building materials manufacturer.' Eng Saeed Ghumran Al Remeithi, Group Chief Executive Officer, Emsteel, said: 'In 2024, Emsteel demonstrated resilience in navigating a dynamic and challenging market environment. Despite these headwinds, we remain committed to innovation, sustainability and accelerating the adoption of low-carbon solutions. A key milestone is our pilot green hydrogen project with Masdar, a critical step in decarbonising this hard-to-abate sector. "Looking ahead, we embrace our role as pioneers in sustainable innovation, laying the foundation for a low-carbon iron hub, with strategic partnerships driving our vision of a more sustainable and resilient future for all. The UAE's expanding construction sector, with $772 billion in ongoing and upcoming projects, further strengthens our growth strategy. With 52% of projects in planning, design, or tender stages, the country's infrastructure boom will continue to drive demand for sustainable steel and building material solutions, positioning Emsteel as a key enabler of economic and developmental progress.' -
