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.
UAE s Emirates Global Aluminium withstands COVID-19 disruption with 63% earnings jump gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
Guinea eyes trade, tourism opportunities at Expo
Gabriel Curtis, Guinea’s Minister of Investments and Public-Private Partnerships.
The Guinean pavilion is titled tap into the source of West Africa and is now 80 per cent complete.
The West African nation of Guinea will use Expo 2020 Dubai as a platform to showcase trade and tourism opportunities in the country, a top government official said.
“Guinea is a vibrant country with a young and dynamic population, and in recent years it has undertaken profound structural reforms to accelerate its socio-economic development. At the Expo, we aim to showcase new facets of Guinea to a wide audience,” Gabriel Curtis, Guinea’s Minister of Investments and Public-Private Partnerships, told Khaleej Times.
Guinea eyes trade, tourism opportunities at Expo msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.