EGA has delivered adjusted EBITDA of USD 2.1 billion in record first half, with strong operational performance throughout value chain enabling capitalisation on favourable market conditions. Emirates Global Aluminium Chief Executive Officer Mr Abdulnasser Bin Kalban sai “After our record performance in 2021, I noted that EGA could still do better and indeed we improved our operational performance across the value chain from mining to outbound logistics for finished metal. This enabled us to capitalise on strong market conditions. Our net profit for the first half exceeded net profit for the entirety of last year. During the first half we worked to debottleneck our operations, optimise our customer and product mix to maximise our revenue, robustly control our costs, and set the course for future growth. We will continue to focus on delivering competitive returns for our sector, however the global aluminium market develops.” Financial highlights of H1 2022Revenue of AED 18.3 billion (USD 5 billion) compared to AED 10.8 billion in H1 2021Adjusted EBITDA of AED 7.6 billion (USD 2.1 billion), compared to AED 3.5 billion in H1 2021Aluminium segment EBITDA margin of 41%, compared to 32% in H1 2021Net profit of AED 5.9 billion (USD 1.6 billion), compared to AED 1.7 billion in H1 2021Sales of cast metal increased by 11% to 1.31 million tonnes, compared to 1.18 million tonnes in the first half of 2021, as EGA implemented production creep plans and mitigation measures for global logistics challengesSales of value-added products or ‘premium aluminium’ increased 5% to 1.07 million tonnes from 1.02 million tonnes in H1 2021Local UAE customers accounted for 141 thousand tonnes, or 11%, of total metal salesAlumina deliveries from Al Taweelah alumina refinery to EGA’s smelters increased by 6% to 1.15 million tonnes compared to 1.09 million tonnes in H1 2021Bauxite exports from Guinea increased by 11% to 6.49 million tonnes, compared to 5.85 million tonnes in H1 2021
EGA has delivered adjusted EBITDA of USD 2.1 billion in record first half, with strong operational performance throughout value chain enabling capitalisation on favourable market conditions. Emirates Global Aluminium Chief Executive Officer Mr Abdulnasser Bin Kalban sai “After our record performance in 2021, I noted that EGA could still do better and indeed we improved our operational performance across the value chain from mining to outbound logistics for finished metal. This enabled us to capitalise on strong market conditions. Our net profit for the first half exceeded net profit for the entirety of last year. During the first half we worked to debottleneck our operations, optimise our customer and product mix to maximise our revenue, robustly control our costs, and set the course for future growth. We will continue to focus on delivering competitive returns for our sector, however the global aluminium market develops.” Financial highlights of H1 2022Revenue of AED 18.3 billion (USD 5 billion) compared to AED 10.8 billion in H1 2021Adjusted EBITDA of AED 7.6 billion (USD 2.1 billion), compared to AED 3.5 billion in H1 2021Aluminium segment EBITDA margin of 41%, compared to 32% in H1 2021Net profit of AED 5.9 billion (USD 1.6 billion), compared to AED 1.7 billion in H1 2021Sales of cast metal increased by 11% to 1.31 million tonnes, compared to 1.18 million tonnes in the first half of 2021, as EGA implemented production creep plans and mitigation measures for global logistics challengesSales of value-added products or ‘premium aluminium’ increased 5% to 1.07 million tonnes from 1.02 million tonnes in H1 2021Local UAE customers accounted for 141 thousand tonnes, or 11%, of total metal salesAlumina deliveries from Al Taweelah alumina refinery to EGA’s smelters increased by 6% to 1.15 million tonnes compared to 1.09 million tonnes in H1 2021Bauxite exports from Guinea increased by 11% to 6.49 million tonnes, compared to 5.85 million tonnes in H1 2021
