EGA posts H1 profit despite Iranian attack, aided by higher aluminium prices
The results underline how favourable market conditions helped cushion the blow from the shutdown
12 August, 2026
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Emirates Global Aluminium (EGA) reported resilient first-half 2026 earnings despite the Iranian attack on Khalifa Economic Zones Abu Dhabi (KEZAD) that forced an emergency shutdown of its Al Taweelah operations, with stronger aluminium prices and disciplined cost management helping offset the financial impact.
The UAE aluminium producer reported adjusted EBITDA of Dhs4.51bn for the six months ended June 30, up 11 per cent year-on-year, while adjusted net profit rose 34 per cent to Dhs2.46bn. The company said these adjusted figures exclude the impact of the Iranian attack, which struck KEZAD in March and disrupted operations.
On a reported basis, after accounting for the incident, EBITDA stood at AED4.42bn, while net income came in at Dhs1.74bn after recognising a net impact of Dhs725m related to the attack.
Read: After Iran attacks, Emirates Global Aluminium warns of 12-month recovery at KEZAD site
The results underline how favourable market conditions helped cushion the blow from the shutdown. EGA said earnings were supported by higher realised aluminium prices, stronger regional premiums, lower alumina prices and disciplined cost management, despite lower production and sales volumes following the disruption.
Revenue declined 10 per cent year-on-year to Dhs13.54bn as cast metal production fell 29 per cent and aluminium sales dropped 32 per cent due to reduced output at Al Taweelah. However, Jebel Ali maintained uninterrupted production throughout the period, while EGA established alternative export routes outside the Strait of Hormuz to continue customer shipments and secure raw material supplies.
Global aluminium market conditions also remained supportive. The average London Metal Exchange aluminium price rose to $3,382 per tonne in the first half of 2026 from $2,538 a year earlier, while regional premiums increased sharply across Japan, Europe and the United States.
Chief executive Abdulnasser Bin Kalban described the first half as “the most challenging period in the long history of EGA”, adding that the company’s financial and operational performance demonstrated its resilience despite significant logistics challenges. He said the company continued to make deliveries to customers while advancing the restoration of production at Al Taweelah.
EGA said restoration work at Al Taweelah is progressing, with 227 reduction cells—around 18 per cent of the smelter’s total capacity—restarted as of this week. Production is expected to gradually recover to pre-incident levels in the first quarter of 2027, while capital expenditure for the restoration programme is estimated at around Dhs1.5bn























