EGA saw its net income fall in 1H 2024, while Depa turned to the black

State-owned aluminum producer Emirates Global Aluminum’s (EGA) net income fell 6% y-o-y to AED 1.84 bn in 1H 2024, on the back of the impact of the corporate tax, it said in a statement. Meanwhile, revenues fell 5.48% y-o-y to AED 13.98 bn during the period, with sales of cast metal inching down 1.5% y-o-y to 1.3 mn tonnes, while production of hot metal increased despite the impact of the heavy rains in April.

Interior design and construction firm Depa turned to the black in 1H 2024, logging a bottom line of AED 46.3 mn, compared to net loss of AED 49.7 mn in 1H 2023, according to an earnings release (pdf). Revenues grew 34.2% y-o-y to AED 623 mn, driven by strong growth in Saudi Arabia. Its backlog also grew 13% y-o-y to AED 1.69 bn.