Emirates Global Aluminum (EGA) reported record sales in 2025 and solid underlying financial performance on Wednesday. With GAC excluded, EGA’s underlying net profit increased by 16% to Dhs4.93 billion ($1.34 billion) from Dhs4.26 billion ($1.16 billion) in 2024. EGA’s net profit, including GAC, was Dhs2.12 billion ($578 million), down from Dhs2.62 billion ($715 million) in 2024.
After accounting for impairment, reserves, and other expenses, GAC’s 2025 charges totalled Dhs2.81 billion ($765 million), while its 2024 charges totalled Dhs1.64 billion ($447 million), net of tax credits.
In 2025, EGA distributed Dhs3.7 billion ($1 billion) to shareholders, which is to a payout ratio of around 75%. Compared to Dhs8.30 billion ($2.26 billion) in 2024, the underlying cash flow from operations was Dhs8.27 billion ($2.25 billion). In 2025, the cash conversion ratio was 80%, while in 2024, it was 64%.
Due to higher average realized aluminum prices, continuous improvement projects, and increased sales, EGA produced underlying Earnings Before Interest, Tax, Depreciation, and Amortization (underlying EBITDA) of Dhs9.28 billion ($2.53 billion), up from Dhs8.69 billion ($2.37 billion) in 2024. Higher realized aluminum prices and the “Najah” performance improvement program drove a 14% increase in the company’s underlying sales to Dhs31.98 billion from Dhs28.14 billion the year before.
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