Emirates Steel

Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded steel and building materials company in the UAE, today announced its third quarter results. In 3Q22 revenues rose 29% to AED 2.51 billion, compared to pro-forma AED 1.94 billion in the corresponding quarter last year. The Group’s 3Q22 EBITDA gained 224% year-on-year (“YoY”) to AED 269 million. The Group reported a net profit of AED 103 million in the third quarter compared to a pre-merger pro-forma loss of AED 79 million in the same period of last year. The ...