According to the 2019 financial report released by Emirates Global Aluminium (EGA), the firm posted its operating revenue of AED 20.5 billion, dropping by 12% compared to 2018. The decrease was mainly due to a decline in global aluminum prices but it was partially offset by the increased output of value-added products.
During the same period, EGA's adjusted EBITDA was AED 2.5 billion, sliding from 2018’s AED 4.4 billion. The drop was due to the fact that finished metal prices fell and the prices of raw materials rose in the first half of 2019, such as alumina, which was in a short supply worldwide due to the production suspension at major alumina smelters in Brazil.
EGA’s revenue drops in 2019
5 May 2020 14:07 reported by Joy Liu
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