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EGA H1 adjusted profit rises 34% to Dh2.46 billion on higher aluminium prices, lower costs
Adjusted EBITDA grows 11% to Dh4.51 billion as stronger regional premiums and disciplined cost management offset lower production and sales volumes
- PUBLISHED: Wed 12 Aug 2026, 9:14 AM
Emirates Global Aluminium reported a 34 per cent increase in first-half adjusted net profit to Dh2.46 billion, supported by higher realised aluminium prices, stronger regional premiums, lower alumina prices and disciplined cost management.
Adjusted EBITDA rose 11 per cent to Dh4.51 billion, from Dh4.07 billion a year earlier, while the adjusted EBITDA margin widened to 33.3 per cent from 27 per cent.
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Reported net income stood at Dh1.74 billion after recognising a net impact of Dh725 million related to the March incident at Khalifa Economic Zone Abu Dhabi, while reported EBITDA was Dh4.42 billion.
Revenue declined 10 per cent to Dh13.54 billion from Dh15.08 billion, reflecting lower sales volumes following reduced production at Al Taweelah, partly offset by higher realised aluminium prices.
Dh1.73 billion interim dividend
EGA’s board approved an interim dividend of Dh1.73 billion, equivalent to a 70 per cent payout of adjusted net income.
The company said its underlying performance remained supported by aluminium market conditions. The average London Metal Exchange aluminium price rose to $3,382 per tonne in the first half, from $2,538 a year earlier, while regional premiums also increased significantly.
Al Taweelah restoration progresses
EGA said restoration work at Al Taweelah was progressing, with 227 reduction cells, or 18 per cent of the total, restarted as of August 10.
All three potlines have been energised, and hot metal production is expected to increase gradually as more cells return to service. EGA currently expects production to reach pre-incident levels in the first quarter of 2027, although it is working to accelerate the timetable.
Production at the Al Taweelah alumina refinery restarted in early July and reached 50 per cent of pre-incident levels within days.
EGA estimates that restoring production at Al Taweelah will require around Dh1.5 billion in capital expenditure, with most of the spending expected during 2026.
Alternative export routes support shipments
Total aluminium sales fell 32 per cent to 939,000 tonnes during the first half, while cast metal production declined 29 per cent to 1.01 million tonnes.
The company said logistics constraints had temporarily halted new outbound shipments from the UAE in March, but alternative export routes through ports outside the Strait of Hormuz had since enabled a gradual increase in shipment capacity and reduced domestic stockpiles.
Chief Executive Abdulnasser Bin Kalban said EGA had maintained customer deliveries despite significant logistics challenges while continuing the restoration of Al Taweelah and advancing its global growth strategy.
Global growth and recycling expansion
EGA continued work on its planned primary aluminium project in Oklahoma, where it will hold a 60 per cent stake in a joint venture with Century Aluminum.
The proposed plant will have annual capacity of 750,000 tonnes and is expected to begin aluminium production by the end of the decade.
The company is also progressing its acquisition of an 80 per cent stake in Italy’s Eco Green, which would lift EGA’s recycling capacity to more than 400,000 tonnes annually across the UAE, Europe and the US after completion.
EGA ended June with Dh6.07 billion in cash and term deposits and Dh3.67 billion in undrawn revolving credit facilities.
