Emirates Global Aluminium (EGA), the world’s largest producer of premium aluminium and the UAE’s biggest industrial company outside the oil and gas industry, has reported strong financial results for the first half of 2024. EGA’s solid performance reflects the ongoing global demand for its high-quality aluminium products. The company continues to show resilience and growth in a competitive market.
Financial Performance
For the first half of 2024, EGA reported adjusted Earnings Before Interest, Tax, Depreciation, and Amortisation (adjusted EBITDA) of AED 4.20 billion (US$1.14 billion). This marks a slight increase compared to the AED 4.15 billion (US$1.13 billion) in the same period of 2023. Meanwhile, EGA’s net profit stood at AED 1.84 billion (US$500 million), which is slightly lower than the AED 1.96 billion (US$533 million) recorded in the first half of 2023.
Aluminium Segment Growth
EGA’s aluminium business continues to perform well, with an improved adjusted EBITDA margin of 27.5 percent. This is an increase from the 26.9 percent margin achieved in the first half of 2023. This performance highlights EGA’s strong position among its global competitors and its ability to efficiently manage its operations and costs.
EGA CEO Abdulnasser bin Kalban credited strong client relationships, cost control, and efficiency in operation for the company’s success. The company’s continuous efforts to innovate and improve its operations have also contributed to its ability to meet the rising demand for low-carbon aluminium.
Expansion and Strategic Moves
In addition to its solid financial performance, EGA has made significant strategic advancements in 2024. One of the most notable developments is the acquisition of Leichtmetall, a company that plays a key role in EGA’s strategy to expand its low-carbon aluminium offerings. This acquisition, completed in May 2024, marks EGA’s first major acquisition since its formation in 2014, when Dubai Aluminium and Emirates Aluminium merged to create the company.
EGA is also making progress on its recycling plant in the UAE. The recycling plant is part of EGA’s broader efforts to address the growing global demand for environmentally friendly, low-carbon aluminium. The company wants to lessen its carbon footprint and provide its clients sustainable alternatives, thus it recycles aluminum.

Increasing Sales and Production
EGA’s strong financial results are supported by impressive sales and production figures. EGA supplied 1.30 million tons of cast metal to 411 clients across 57 countries in the first half of 2024. Notably, 82 percent of these sales were classified as value-added products, often referred to as ‘premium aluminium.’ This is an increase from 77 percent in the first half of 2023, showing that more customers are seeking EGA’s high-quality products. The demand for billets, a specific type of aluminium product, has grown by 18 percent year-on-year, further boosting sales.
On the production side, EGA produced 1.34 million tonnes of hot metal at its two smelters located in Al Taweelah and Jebel Ali. This represents a slight increase from the 1.32 million tonnes produced in the first half of 2023. The company’s Al Taweelah alumina refinery also performed well, producing 1.22 million tonnes of alumina, up from 1.15 million tonnes during the same period last year. Alumina is a crucial raw material used in aluminium production, and the refinery’s strong output supports EGA’s overall production capacity.
Operational Excellence and Market Leadership
EGA’s CEO, Abdulnasser bin Kalban, emphasized that the company’s ability to maintain high levels of operational excellence and cost control has been key to its strong performance. EGA’s focus on reducing costs while improving efficiency has allowed it to maintain its leadership position in the global aluminium market. Bin Kalban also noted that the company’s long-term relationships with customers worldwide have helped EGA navigate market challenges and seize new opportunities.
EGA’s Acting CFO, Mohamed Almarzooqi, echoed these sentiments. He pointed out that the company’s strong operational and financial performance has improved its leverage position, meaning EGA is better positioned to take advantage of future growth opportunities. This is particularly important as the market for low-carbon aluminium continues to grow, driven by increased demand for sustainable products.
Commitment to Sustainability
Sustainability has always been a priority for EGA, and in the current market, this commitment is more crucial than ever. The company’s efforts to reduce its carbon footprint are reflected in its work on developing a recycling plant in the UAE. Aluminum recycling lowers carbon emissions since it uses a lot less energy than making new aluminum from raw materials. By expanding its recycling capabilities, EGA is not only meeting the rising demand for low-carbon aluminium but also contributing to global efforts to reduce the environmental impact of industrial activities.
The company’s emphasis on low-carbon aluminium is also a response to the growing demand from customers who are looking for environmentally friendly products. Many industries, including automotive, construction, and packaging, are increasingly seeking out materials that help them reduce their own carbon footprints. EGA’s ability to supply low-carbon aluminium positions the company well to meet this demand and continue its growth in the years to come.
Looking Ahead
Looking forward, EGA is optimistic about the future. The company’s strong financial and operational performance in the first half of 2024 has set the stage for continued growth. The acquisition of Leichtmetall and the progress on the recycling plant are key milestones that will help EGA achieve its strategic goals. As the global market for aluminium continues to evolve, EGA is well-positioned to lead the industry and meet the growing demand for premium and low-carbon aluminium products.
The company’s strategy will continue to be centered on its dedication to innovation, sustainability, and operational excellence in the upcoming years. With a focus on delivering value to its customers and maintaining its leadership position in the global aluminium market, EGA is poised for continued success.
Also read:-In February 2025, Dubai will host the first-ever L’Etape Dubai Cycling Race