Emirates Global Aluminium PJSC (EGA) released results for the first half of 2022 this week. Numbers were up across the board due to both an improvement in operational performance and a global economic recovery from the depths of the COVID-19 recession.
In the year’s first half EGA turned in an adjusted EBITDA of US$2.1 billion, up from US$950 million on the year. Net profit for the half came to US$1.6 billion, better than not only last year’s first half net profit of US$473 million, but also surpassing the entirety of last year’s net profit of US$1.5 billion, which itself was a company record.
EGA’s aluminium segment EBITDA margin totaled 41 percent in the first half, increasing by 9 percent last year and placing it among the industry’s top performers in that category. Revenue in the half nearly doubled, increasing from US$2.9 billion last year to US$5 billion this year.
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