Dubal sees profits grow in rewarding 2013
Dubai Aluminium (Dubal) posted a net profit of AED 1.79 billion ($487 million) in 2013, rising from AED 1.58 billion in 2012, in a year which included being named smelter of the year at Metal Bulletin’s inaugural awards for aluminium excellence.
“Dubal’s achievements in 2013 reflect a combination of higher production and sales volumes, coupled with sustained focus on controlling the cash conversion cost, the latter despite increasing pressure on the purchase prices of raw materials,” the company said.
Sales revenues dipped slightly to AED 9.50 billion from AED 9.77 billion in 2012. Dubal’s profit figure includes its share in the profits of Emirates Aluminium (Emal), which totalled AED 55 million in 2013.
Dubal produced 1,034,766 tonnes of hot metal in 2013, from 1,025,266 tonnes in 2012, and expects to further increase production every year for the foreseeable future through productivity gains.
Dubal and Emal will be incorporated into a new, jointly owned UAE-based company called Emirates Global Aluminium. It will be the fifth-largest global aluminium company by production, once Emal’s Phase II expansion plan – which will double its annual production capacity to 1.3 million tonnes – is completed.
The company will also own Guinea Alumina Corp, a bauxite mining-alumina refinery development project.
“Dubal is currently engaged in diverse strategic upstream bauxitealumina projects that are in various stages of development,” the company said.
During its International Aluminium Conference in Geneva in September last year, MB presented its first ever awards for aluminium excellence. Dubal was named smelter of the year, as well as receiving the awards for excellence in operational management and environmental responsibility/stewardship.
Dubal’s vp of smelter operations, Dr Ali H A M Al Zarouni, was also named rising star of the year at the awards ceremony.
Publish date : Friday 21 February 2014 19:41
Story Code: 4012