EMIRATES GLOBAL ALUMINIUM-

Emirates Global Aluminium (EGA) swung to a net loss of AED 890 mn in 1H 2025, from AED 1.8 bn in net income in the same period last year, according to its earnings release. Revenues rose 7.9% y-o-y to AED 15.1 bn.

What happened? The loss was driven by a AED 2.5 bn impairment after the Guinean government expropriated EGA’s Guinea Alumina Corporation subsidiary, halting all bauxite exports. The disruption raised costs at EGA’s alumina refinery, with aluminum segment margins narrowing to 22.8% from 27.5%. Underlying net income before Guinea adjustments fell to AED 1.6 bn.

Operations breakdown:

  • EGA’s alumina refinery produced 1.1 mn tons in the half, down from 1.2 mn tons last year;
  • Cast metal output held steady at 1.4 mn tons, with value-added premium aluminum rising to 84% of sales;
  • Sales of recycled aluminum surged, with RevivAL output climbing to 41k tons from just 2k a year earlier, while low-carbon CelestiAL sales grew to 52k tons from 44k.

REMEMBER- EGA is diversifying supply and ramping up new projects to offset the impact. It expanded Al Taweelah’s capacity by 50k tons per annum (tpa), is building a 170k tpa recycling plant in the UAE, and recently boosted output at its Minnesota facility. The company also signed long-term bauxite supply agreements with Ghana’s state aluminum body, partnered with Japan’s Sankyo Tateyama to broaden its product mix, and is said to be weighing a revival of its long-mooted IPO plans.

Tags: