Emsteel Building Materials Pjsc · ADX:EMSTEEL
Emsteel Building Materials Pjsc — Q1 2026 Earnings Presentation
22 slides from Emsteel Building Materials Pjsc's earnings presentation, May 2026
Slide 1: EMSTEEL Q1 2026 Financial Results
EMSTEEL Q1 2026 Financial Results
Slide 2: Legal Disclaimer
Legal Disclaimer These materials have been prepared by EMSTEEL Building Materials PJSC (“EMSTEEL” or the “Company”). The Company relies on information obtained from sources believed to be reliable. No representation, warranty or undertaking, stated or implied, is given as to the accuracy of the info
Slide 3: Table of Contents
TABLE OF CONTENTS HSE and ESG 4 Market Context 7 Financial and Operational Highlights 11 Appendix 17 EMSTEEL GROUP 3
Slide 4: HSE and ESG
WW HSE and ESG
Slide 5: Focus on HSE Delivers Tangible Results
Focus on HSE Delivers Tangible Results EMSTEEL continuously implements measures to further enhance Health and As of Q1’26, EMSTEEL Group achieved a Lost-Time Injury Frequency Rate Safety standards across the Group. (LTIFR) of 0.16 and a Total Recordable Injury Frequency Rate (TRIFR) of The following
Slide 6: Q1'26 - On track to achieve Decarbonization targets
Q1’26 - On track to achieve Decarbonization targets Group Emissions*** 0.93 0.91 0.86 0.78 0.72 0.67 0.66 0.69 0.64 0.64 0.61 0.65 0.55 0.68 0.68 0.64 0.64 0.64 2,588 1,996 2,128 2,362 2,230 **** 2,357 1,674 1,807 3,203 2,535 2,553 2,605 2,205 2,117 2,057 1,922 2019 2020 2021 2022 2023 2024 2025 Q1'
Slide 7: Market Context
Market Context 7
Slide 8: Raw material prices remained relatively stable during Q1'26, until geopolitical conflict triggered volatility
Raw material prices remained relatively stable during Q1’26, until the geopolitical conflict triggered volatility across global steel markets Iron Ore Fines 65% Fe, CFR China, USD/t Global Iron Ore prices in Q1’26 were volatile: 140 • In Jan-Feb’26 Iron Ore prices decreased by 135 ▲+13% approximatel
Slide 9: Increase in raw material costs and supply disruptions led to higher steel prices
Increase in raw material costs and supply disruptions in Mar’26 led to higher prices for semi-finished and finished steel products Billet, CFR Southeast Asia, USD/t Billet prices increased by approximately ▲+10% 510 500 through Q1’26. Prices remained broadly stable until ▲+10% 490 Mar’26 when growin
Slide 10: UAE steel market: Strong demand in Q1'26; proactive initiatives announced
UAE steel market: Strong demand in Q1’26; Proactive initiatives announced to address potential conflict-related adverse effects In Q1’26, UAE steel demand continued to benefit from the momentum of the country’s Dubai’s new Gold Metro Line* expanding economy, clearly reflected in the performance of t
Slide 11: Financial and Operational Highlights
Financial and Operational Highlights 11
Slide 12: Q1'26 Sales performance: planned maintenance in Steel balanced by robust Cement results
Q1’26 Sales performance: planned maintenance in Steel was balanced by robust Cement results In Q1’26 sales of finished steel products decreased by ▼-9% YoY. In Q1’26 EMSTEEL total cement and clinker sales grew by ▲+32% YoY, The decrease was primarily attributable to a planned maintenance reaching 1.
Slide 13: Q1'26 Financial results: significant EBITDA margin increase
Q1’26 Financial results: significant EBITDA margin increase supported by Company’s initiatives and market environment In Q1’26 EMSTEEL Revenue was AED 2.2bn, up ▲+1% YoY. In Q1’26 EBITDA reached AED 483 million, up ▲+82% YoY. EBITDA margin Higher clinker and cement sales volumes contributed to Emira
Slide 14: Persistent FCF generation setting up foundation for future growth
Persistent FCF generation setting up foundation for future growth and enhancing financial flexibility In Q1’26 EMSTEEL reported OCF of AED 262m (vs AED -125m), and FCF of Since the merger in Oct’21, EMSTEEL has steadily improved its leverage AED 144m (vs AED -198m in Q1’25). YoY improvement driven b
Slide 15: EMSTEEL Capex is focused on maximizing current business value and diversifying product portfolio
EMSTEEL Capex is focused on maximizing current business value and diversifying product portfolio Starting from FY’25, EMSTEEL accelerated investment under Asset Asset Enhancement Programme 2025 - 2027 Enhancement Programme. In Q1’26 overall Maintenance Capex (incl. scheduled shutdowns) decreased by
Slide 16: EMSTEEL focused on supporting the resilience of the UAE market amid closure of the Strait of Hormuz
EMSTEEL focused on supporting the resilience of the UAE market amid closure of the Straight of Hormuz Closure of the Strait of Hormuz in March 2026 placed UAE Steel Imports, kt * significant pressure on steel value chains across the region. Steel imports into the UAE declined materially, resulting i
Slide 17: Appendix
Appendix 17
Slide 18: Consolidated statement of financial position
Consolidated statement of financial position Assets, AED mn Q1’26 2025 2024 Equity and Liabilities Q1’26 2025 2024 Non-current assets Net equity 9,543 9,244 8,720 PPE 6,211 6,241 6,416 Non-current liabilities Goodwill - - - Lease liabilities 315 323 321 Right-of-use assets 199 207 214 Provision for
Slide 19: Consolidated statement of profit or loss
Consolidated statement of profit or loss AED mn Q1’26 Q1’25 2025 2024 Revenue 2,168 2,156 8,941 8,337 Cost of sales (1,742) (1,916) (7,675) (7,578) Gross profit 426 240 1,267 760 Selling and distribution expenses (10) (11) (89) (44) General and administrative expenses (98) (120) (546) (417) Other in
Slide 20: Consolidated statement of cash flows
Consolidated statement of cash flows AED mn Q1’26 Q1’25 2025 2024 Operating cash flows before movements in working capital 485 278 1,296 867 Net movements in working capital (220) (397) 10 (174) Cash generated from operations 265 (120) 1,307 693 Employees' end of service benefit paid (3) (6) (15) (2
Slide 21: FY Operational & Financial results
FY Operational & Financial results Steel Cement & Clinker * Financial Results Production, kt Production, kt Revenue, AED bn EBITDA, AED bn & EBITDA Margin, % 3,327 3,404 3,300 2,964 3,237 3,254 1.3 2,835 2,246 1.2 2,695 2,184 8.9 8.9 1,878 8.3 1,839 0.9 14.2% 13.9% 10.9% 2023 2024 2025 2023 2024 202
Slide 22: Thank You
THANK YOU Gleb Diachkov-Gertcev Director of Investor Relations ir@emsteel.com
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