EGA grows adjusted EBITDA by 63% to AED4.1 billion Tue 16th March 2021 | 12:45 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 16th Mar, 2021) Emirates Global Aluminium (EGA) on Tuesday reported adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (adjusted EBITDA) of AED4.1 billion ($1.13 billion) for 2020, a 63 percent increase over 2019.
EGAâs smelting EBITDA margin for 2020 was 23 percent (2019: 14 percent), ranking amongst the best globally, the company said on Tuesday.
EGA flexed its aluminium product mix during 2020 in response to fluctuating market demand caused by the impact of the COVID-19 pandemic on world manufacturing.
However, for the year as a whole EGA maintained its position as the worldâs largest âpremium aluminiumâ producer by volume, with sales of value-added products of 1.8 million tonnes or 72 percent of total sales. EGA sold value-added products in 2020 to more than 400 customers in over 50 countries.
EGA’s adjusted Ebitda grows by 63% to Dhs4.1 billion in 2020
16 Mar 2021 Emirates Global Aluminium’s smelter in Jebel Ali, UAE. Emirates Global Aluminium (EGA) on Tuesday reported adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (adjusted Ebitda) of Dhs4.1 billion ($1.13 billion) for 2020, a 63 per cent increase over 2019.
EGA’s smelting Ebitda margin for 2020 was 23 per cent (2019: 14 per cent), ranking amongst the best globally, the company said on Tuesday.
EGA flexed its aluminium product mix during 2020 in response to fluctuating market demand caused by the impact of the COVID-19 pandemic on world manufacturing.
However, for the year as a whole EGA maintained its position as the world’s largest ‘premium aluminium’ producer by volume, with sales of value-added products of 1.8 million tonnes or 72 per cent of total sales. EGA sold value-added products in 2020 to more than 400 customers in over 50 countries.
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New Siemens power plant fired up at Emirates Global Aluminium
DUBAI, February 3, 2021 Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, Mubadala and Dubal Holding today successfully completed a major milestone with the first firing of the Siemens Energy H-class gas turbine at a new AED1 billion ($272 million) state-of-the-art power plant under development at EGA’s Jebel Ali site. The Siemens Energy H-class gas turbine, a leading technology in efficient power generation, is the heart of the new power plant. Over the coming months, other facilities of the plant will be completed and integrated to achieve a generation capacity of over 600 megawatts of electricity. Full completion of the project is expected in the summer.