Emirates International Aluminum Company announced yesterday the achievement of strong financial results for the year 2024 and the growth in the low -carbon aluminum sector, where the modified profits before deducting benefits, taxes, destruction and consumption amounted Partially, the high prices of alumina and the low production of “Boxet”.
The company stated, in a statement, that its revenues amounted to 30 billion dirhams during the past year, compared to 29.5 billion dirhams revenues achieved in 2023, while the margin of modified profits increased before deducting interest, taxes, depreciation and consumption for the aluminum sector from 25% to 27%.
Criticism caused by operational activities remained strong, as it rose to 8.5 billion dirhams last year, from 7.9 billion dirhams in 2023.
“In 2024 we have achieved important achievements within the framework of our strategy for growth in the low -carbon aluminum sector, whether by laying solid foundations for expanding the production of the first -carbon aluminum, or by expanding the scope of aluminum recycling at the global level,” said Abdel Nasser Bin Kalban.
He added: «Our main steps included the acquisitions of Germany and the United States, in addition to achieving progress in building the largest recycling facility in the UAE, and as a result the production capacity of secondary aluminum reached 140 thousand tons annually by the end of 2024, with plans under development to raise this production capacity by an additional 225 thousand tons.
Follow our latest local and sports news and the latest political and economic developments through Google News