UAE - Mubasher: Emirates Global Aluminium (EGA) achieved net profits of AED 5.5 billion ($1.5 billion) in 2021, a surge of 1,140% compared to AED 445 million ($121 million) in 2020.
The company's adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) soared to AED 9 billion ($2.5 billion) last year from AED 4.1 billion ($1.1 billion) in 2020, Emirates News Agency (WAM) cited a recent press release.
The revenues stood at AED 25.5 billion ($6.9 billion) in 2021, compared to AED 18.7 billion ($5.1 billion) in the prior year.
Abdulnasser bin Kalban, EGA's CEO, said: "In the shorter term, strong demand has continued in the first quarter (Q1) of 2022. While, like others, we are still facing challenges with global logistics, we have adopted new approaches such as breakbulk shipping to overcome them."
