‎EGA H1 profit up 34% to AED 2.46B

‎<p ><span ><span class="ckeCaption" ><img src="https://argaamplus.s3.amazonaws.com/8d754a6b-0e1e-4ab0-acf5-2ff3f81b6b68.png" >Emirates Global Aluminium logo</span></span></p> <hr> <p dir="RTL" ><span ><span >Emirates Global Aluminium (EGA), equally owned by Mubadala Investment Co. and Investment Corporation of Dubai, reported a net profit of AED 2.46 billion in H1 2026, up from AED 1.84 billion in the same period of 2025.</span></span><br> </p> <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr > <td colspan="4" > <p dir="RTL" ><span ><span ><strong><span >Income statement</span></strong></span></span></p> </td> </tr> <tr > <td > <p dir="RTL" ><span ><span ><strong><span >Period</span></strong></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><strong><span >H1 2025</span></strong></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><strong><span >H1 2026</span></strong></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><strong><span >Change</span></strong></span></span></p> </td> </tr> <tr > <td > <p dir="RTL" ><span ><span ><strong><span >Total revenue</span></strong><em><span >(AED billion)</span></em></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >15.08</span></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >13.54</span></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >(10%)</span></span></span></p> </td> </tr> <tr > <td > <p dir="RTL" ><span ><span ><strong><em><span >Net profit</span></em></strong><em><span >(AED billion) *</span></em></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >1.84</span></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >2.46</span></span></span></p> </td> <td > <p dir="RTL" ><span ><span ><span >+34%</span></span></span></p> </td> </tr> </tbody> </table> <div ><span ><span class="ckeCaption" >*Excluding the impact of the Iranian attack on KIZAD, which caused operations to be halted temporarily.</span></span><br> <br> <span >EGA stated that revenue declined due to the Al Taweelah incident, which reduced sales volume. This was partly offset by higher realised aluminium prices<span dir="LTR" >.</span></span></div> <p dir="RTL" ><br> <span >Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 11% to AED 4.51 billion ($1.23 billion), versus AED 4.07 billion ($1.11 billion) in H1 2025, driven by higher realised aluminium prices, robust regional price premiums, lower alumina prices, and disciplined cost management</span><span dir="LTR" >.</span></p> <p dir="RTL" ><br> <span >EBITDA margin also improved to 33%, compared to 27% in H1 2025.</span></p> <p dir="RTL" ><br> <span >Meanwhile, operating cash flow declined to AED 1.48 billion ($404 million) compared with AED 3.44 billion ($937 million) in H1 2025</span><span >,</span><span > reflecting a strategic increase in inventory to support continued operations at Al Taweelah and Jebel Ali during the operational recovery period and gradual ramp-up in output.</span></p> <p dir="RTL" ><br> <span >Net debt to core EBITDA ratio dropped to 1.4x, from 1.9x at the end of H1 2025, while gross debt grew to AED 18.1 billion ($4.9 billion), from AED 16.9 billion ($4.6 billion) in H1 2025.</span></p> <p dir="RTL" ><br> <span >Cast aluminium production fell to 1,006 thousand tonnes in H1 2026, from 1,420 thousand tons in H1 2025, mainly due to lower output at Al Taweelah. Total aluminium sales also declined 32% to 939 thousand tons in H1 2026, compared with 1,373 thousand tons in H1 2025</span><span dir="LTR" >.</span></p>

Publication

Argaam - UAE News · Trade Publication

Published

12th August 2026

Original report

argaam.com

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