Emirates Global Aluminium posts Dhs4.93 billion underlying net profit

Emirates Global Aluminium (EGA) on Wednesday announced strong underlying financial performance and record sales in 2025.

EGA’s underlying net profit, excluding GAC, was up by 16 per cent to Dhs4.93 billion ($1.34 billion), compared with Dhs4.26 billion ($1.16 billion) in 2024. Including GAC, EGA recorded a net profit of Dhs2.12 billion ($578 million) compared to Dhs2.62 billion ($715 million) in 2024.

GAC’s results, which include impairment, provisions, and other costs, resulted in a charge of Dhs2.81 billion ($765 million) in 2025, compared with a charge of Dhs1.64 billion ($447 million) in 2024, net of tax credits.

EGA paid shareholders a total of Dhs3.7 billion ($1 billion) in 2025, representing a payout ratio of around 75 per cent.

Underlying cash flow from operations was Dhs8.27 billion ($2.25 billion), compared with Dhs8.30 billion ($2.26 billion) in 2024.

The cash conversion ratio was 80 per cent in 2025 compared to 64 per cent in 2024.

EGA delivered underlying Earnings Before Interest, Tax, Depreciation and Amortisation (underlying EBITDA) of Dhs9.28 billion ($2.53 billion), compared to Dhs8.69 billion ($2.37 billion) in 2024, driven by higher average realised aluminium prices, ongoing improvement work, and higher sales.

The company’s underlying revenues increased by 14 per cent to Dhs31.98 billion, compared with Dhs28.14 billion in the previous year, driven by higher realised aluminium prices and the “Najah” performance improvement programme.

EGA’s underlying EBITDA margin was 29 per cent in 2025 compared to 31 per cent in 2024, slightly lower due to higher alumina and bauxite prices but continuing to lead listed industry peers. Including GAC results, EGA delivered EBITDA of Dhs8.51 billion ($2.32 billion) in 2025.

“We delivered a strong financial performance in 2025, driven by record sales, favourable aluminium prices, and disciplined cost control-demonstrating the strength and resilience of our business,” said Abdulnasser bin Kalban, Chief Executive Officer of EGA.

Pål Kildemo, Chief Financial Officer of EGA, said, “Across multiple end‑markets, we are seeing strong secular tailwinds that continue to accelerate the need for aluminium-driven by sustainability, electrification, and long‑term infrastructure renewal. There is a significant addressable market for aerospace and defence, driving growth. Every electric vehicle requires significantly more aluminium. These underlying structural trends position aluminium - and EGA’s business - extremely well for the long term.” EGA focuses on optimising cost and performance across the value chain, and delivered more than Dhs235 million (more than $65 million) in incremental improvements in 2025 compared with 2024, driven by higher production, efficiency gains, and procurement savings.

From 2026, EGA will embark on a second phase of its improvement programme, Najah 2.0, targeting another Dhs1.62 billion ($440 million) in annual improvements by 2030, compared to the baseline year of 2024, including through technical upgrades in operations, optimising raw material supply and improving pricing through sales and marketing excellence.

EGA’s cast metal production rose to the highest-ever at 2.84 million tonnes. EGA sold a record 2.83 million tonnes of cast metal to over 400 customers in more than 50 countries, up from 2.77 million tonnes in 2024.

The share of value-added products - premium aluminium- was 81 per cent in 2025 (82 per cent in 2024).

Al Taweelah alumina refinery produced 2.40 million tonnes of alumina in 2025, slightly down from 2.54 million tonnes in 2024, meeting 46 per cent of EGA’s alumina needs.

During 2025, EGA implemented numerous modifications to enhance the refinery’s efficiency in processing a wider range of bauxite types and a debottlenecking expansion that unlocked additional alumina production capacity.

On strategic growth, EGA announced plans to build the first new primary aluminium production plant in the United States since 1980. The plant is expected to have a production capacity of 750,000 tonnes of primary aluminium per year. After the period, Century Aluminium signed a joint development agreement with EGA to join the project in Oklahoma. EGA will own 60 per cent of the joint venture, with Century owning the remaining 40 per cent.

EGA also began production at its next-generation EX smelting technology pilot project in Al Taweelah, which delivers higher output with lower energy use and emissions. The technology is being prepared for industrial-scale deployment in Oklahoma.

EGA is advancing the development of a global aluminium recycling platform. In the UAE, EGA is nearing completion of the country’s largest aluminium recycling plant in Al Taweelah, with a production capacity of 185,000 tonnes of low-carbon, high-quality billets and T Bars per year.

WAM