Page 48 - ALEF EDUCATION PR REPORT - JULY 2025

8/1/25, 1:23 PM Adnoc Drilling, Ghitha, Emsteel, Americana and Alef report 1H results

Its bottom line for the six-month period came in at AED 54.6 mn ,
well below the AED 2.8 bn figure reported in 1H 2024, which included
substantial one-off gains. Once again, revenues performed better —
rising 6.7% y-o-y to AED 2.6 bn. The company attributed its top line
growth to recent acquisitions, including Al Jazira Poultry in 1H and
Arabian Farms last year, according to a separate earnings release
(pdf ).

EMSTEEL GROUP -

Emsteel Group posted AED 101.7 mn in net income for the second
quarter of 2025, up 119.9% y-o-y, according to its financials (pdf ).
Revenues rose 17.8% to AED 2.1 bn during the quarter. For the six-
month period, its bottom line reached AED 188 mn, up 7.7 % y-o-y,
while its top line saw a 8.7% y-o-y uptick to come in at AED 4.3 bn.

The growth was driven by improved operational and cost
efficiency, which helped offset margin pressures, according to a
separate earnings release (pdf ). The firm’s steel division contributed
AED 3.9 bn in revenues for 1H , up 7% y-o-y despite a 4% y-o-y dip in
steel prices, while its cement segment brought in AED 428 mn, up 21%
y-o-y. The group also shifted its focus from semi-finished to finished
products.

ALEF EDUC ATION-

Alef Education recorded a 3.4% y-o-y increase in net income to
AED 117 mn in 2Q 25, according to the firm's financial statements
(pdf ). Revenues remained largely flat, at AED 177.6 mn for the quarter,
compared to AED 177.5 mn the year before.

On a six-month basis: The firm’s bottom line saw 2.7% growth y-o-y
to reach AED 232.3 mn, and revenues inched up 0.9% to AED 357.3 mn
on the back of stable contributions from Alef ’s core UAE portfolio,
according to a separate earnings release (pdf ). The six months also
saw robust growth in other business and government contracts
outside of its partnership with the Abu Dhabi Department of
Education and Knowledge (ADEK).

Dividends: Alef Education will distribute a total dividend of AED 209
mn to shareholders, according to an ADX disclosure (pdf ).

NMDC -
NMDC had a good 2Q: The National Marine Dredging Company
(NMDC) Group saw its bottom line hike up 18% y-o-y to AED 971 mn in
2Q 2025, while revenues increased 5% y-o-y to AED 7.1 bn, according
to an earnings release (pdf ). This was driven by enhanced cost
efficiency, increased operating margins, and robust operational
control, according to a separate earnings release.

In 1H terms: The ADX-listed firm recorded a 20% y-o-y boost in its net
income to AED 1.8 bn, while its revenues rose 10% y-o-y to AED 13.4 bn
during the same period. The firm attributes the increase to its
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