EGA’s strongest-ever results were due to a strong global market for aluminium as economies recovered from Covid-19, solid operational performance throughout the valu.
DUBAI, 28th February, 2022 (WAM) Emirates Global Aluminium (EGA) today reported a net profit of AED5.5 billion ($1.5 billion), an increase of 1,140 percent compared to AED445 million ($121 million) in 2020.
EGA reported record adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) more than doubled to AED9.0 billion ($2.5 billion) for 2021, from AED4.1 billion ($1.1 billion) for 2020, according to a company press release on Monday.
EGA's strongest-ever results were due to a strong global market for aluminium as economies.
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.
Dubal’s OSE acquisition a major boost for Dubai
13 Feb 2021 Picture used for illustrative purpose only. Dubal Holding’s decision to acquire a majority stake in Dubai-based aluminium extrusion company OSE Industries is a major vote of confidence in the UAE economy, according to Dubai Industrial City.
The region’s largest manufacturing and logistics hub, home to OSE Industries, lauded the deal as a reflection of the growth opportunities and underlying strength in Dubai’s industrial sector.
OSE Industries began manufacturing operations in 2015 and now exports MPE, precision tubing and industrial piping across the Middle East and North Africa, Asia, Europe and the US. Its clients include a well-known US electric carmaker, as well as major players in the heating, ventilation and air conditioning (HVAC) sector.