Amidst the ongoing global demand for premium aluminium, Emirates Global Aluminium (EGA), the largest producer of premium aluminium in the world and the largest industrial company in the United Arab Emirates (UAE) outside of oil and gas, today reported strong financial performance for the first half of 2024.
Compared to Dhs 4.15 billion (US$1.13 billion) in the first half of 2023, EGA’s adjusted Earnings Before Interest, Tax, Depreciation, and Amortisation (adjusted EBITDA) was Dhs 4.20 billion (US$1.14 billion).
Among its peers in the global industry, EGA’s aluminium segment’s adjusted EBITDA margin was the highest at 27.5 percent, down from 26.9 percent in the first half of 2023.
EGA continues to deliver competitive financial performance throughout the economic cycle, through our focus on operational excellence, cost control, and our long-term commercial relationships with our global customers,” stated Abdulnasser bin Kalban, Chief Executive Officer of Emirates Global Aluminium.
In order to expand EGA and meet the growing global demand for low-carbon primary and recycled aluminium over the coming decades, we made significant first steps in developing our recycling plant in the United Arab Emirates and acquiring Leichtmetall in the first half of 2024. I’m excited about more actions before the year is out.
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