EBS targets 10% profit growth over next five years
Company looking for year on year increase amid construction boom
Emirates Building Systems (EBS) - a subsidiary of Dubai Investments PJSC - is targeting a 10% year-on-year growth over the next five years amidst strong demand in the region fuelled by the ongoing construction boom.
The company, which achieved a growth of 10% in 2013 compared to 2012, also announced plans for major expansion in Saudi Arabia, given the escalating demand for steel structures for infrastructure projects, commercial and residential buildings as well as the oil and gas sector in the country.
The expansion plans comes close on the heels of EBS winning strategic projects in the Kingdom, which includes a project for Riyadh Public Transport, and structures for three petrochemical projects undertaken by Samsung Engineering for Saudi Aramco.
The company also announced a strong pipeline of projects in Saudi Arabia, which are expected to be announced soon.
Apart from Saudi Arabia, EBS is also enhancing its market presence and footprint across the other GCC countries, with its end-to-end steel building solutions for a number of FIFA World Cup 2022 stadium contracts in Qatar, petrochemical and commercial projects in Oman as well as residential and airport developments in the UAE.
Talking about the strong growth expected, Samir Akra, general manager of Emirates Building Systems, said: "The multi-billion dollar projects across the GCC is driving the demand for steel structures - be it for infrastructure or commercial projects. Buoyed by this, we expect to achieve strong growth over the next five years - given the wide spectrum of our product portfolio across various sectors."
He added: "As the region's premier manufacturer of steel structures, EBS is well-positioned to cater to this market demand and execute even the most challenging of steel building projects to world-class standards."