Emirates International Aluminum achieved adjusted profits of 2.5 billion dirhams in 2019 before deduction of interest, taxes, depreciation and amortization.
According to Emirates News Agency, the company is recognized as the largest producer of high-quality aluminum in the world in terms of volume of sales of value-added products to external customers, which amounted to 2.3 million tons, or 87.4% of total sales, sold to more than 400 customers in more than 50 countries. < / p>
The year 2019 presented major challenges for the aluminum industry on a global level, with lower prices for final metal products and higher prices for raw materials and alumina in the first half of the year, driven by a lack of global supplies of alumina due to the reduction in the production of a major refinery in Brazil, which affected margins and financial results in the sector, However, despite the market conditions, the international margin of the company’s Emirates Aluminum Aluminum smelter before calculating interest, taxes and consumption for the year 2019 was equivalent to 14%, to be ranked among the first ranks globally.
Value-added products attract prices higher than the international price achieved by standard aluminum, which enabled Emirates International Aluminum to increase the value of its aluminum production. Emirates International Aluminum sold 2.60 million tons of metal in 2019 compared to 2.64 million tons in 2018, However, the company has gained more market share in many major markets and with major clients.
Domestic sales in the final aluminum products industry reached 294 thousand tons, that is, an increase of 7%.
The cash generated from operating activities amounted to 4.1 billion dirhams, which was delivered through improved operational efficiency ... while Emirates International Aluminum continued to improve working capital, reducing by more than 1.5 billion dirhams in 2019, generating additional funds for the company.
Abdel Nasser bin Kalban, CEO of Emirates International Aluminum Company said that the year 2019 was full of challenges in the global aluminum industry sector, while the company took strong measures to reduce costs, improve operational efficiency and increase liquidity generation.
He added that the main strengths of the company lie in the efficiency of its smelting technology and market leadership in terms of value-added products, enabling the company to achieve competitive adjusted profit margins before deduction of interest, taxes, depreciation and amortization.
In the same context, Al Taweelah Alumina Refinery, affiliated with Emirates International Aluminum Company, started its production operations in April 2019, producing 1.1 million tons in 2019 .. Also, Guinea Alumina Corporation, a mining company owned by Emirates International Aluminum Company, started exporting bauxite in August. 2019, and the total extracted bauxite reached 1.7 million tons in 2019.
The safety performance of the company continued ...
