UAE industrial giant Emirates Global Aluminium delivers record net profit of $1.5b for '21 | Markets – Gulf News
The UAE’s biggest non-oil manufacturing entity, EGA (Emirates Global Aluminium) recorded a whopping 1,140 per cent increase in net profits for 2021 to $1.5 billion. The bottom-line number shows the company make a swift return to form after the disruptions brought on by the COVID-19 in 2020.
EGA shareholders received Dh735 million ($200 million) in dividends during 2021. Additionally, the H-block was acquired from the shareholders for AED 1.6 billion ($438 million) in December 2021.
“EGA can still do better,” said Abdulnasser Bin Kalban, CEO of EGA. “We will focus on maximising the value of our existing assets by de-bottlenecking and through Industry 4.0.”
“There was a strong market for our metal last year - and this continues,” said the CEO. “The demand is there, and we have had clients dealing with us for 40-43 years. There are no issues with exports - in fact, they are demanding more.”
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