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27 SEPTEMBER 2023 AL CIRCLE

Egyptalum marks 47.6% Y-o-Y growth in net profit after tax deduction; FY 2022-23

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

Egyptalum, the Aluminium Company of Egypt, saw an augmentation of 47.6% in net profits after tax on a Year-on-Year basis for the fiscal year (FY) 2022-2023, as was reported by the firm on September 27.

Egyptalum marks 47.6% Y-o-Y growth in net profit after tax deduction; FY 2022-23

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The company had registered EGP 3.691 billion in net profits the previous FY, which was more than the EGP 2.501 billion recorded in FY 2021-2022. Revenues floated in at EGP 22.046 billion in FY 2022-2023, which was again greater than EGP 14.482 billion in FY 2021-22.

Egyptalum is a well-known and respected player in the aluminium industry on a global scale. Since its establishment in 1975, Egyptalum has operated its primary smelting facility in Nag Hammadi, Egypt.

The company has a highly developed production capacity and has made significant contributions to Egypt's industrial sector, supporting both local consumption and export. Egyptalum is committed to adopting sustainable practices and has prioritized environmental responsibility by implementing modern technologies that reduce its ecological footprint. This aligns with the global trend in the aluminium industry towards more eco-friendly production methods.

Global Aluminium Industry Key Trends

The company is an expert in producing aluminium billet castings, aluminium extrusions and aluminium alloys. It also has earned a name in aluminium anodizing, die-making and painting. Egyptalum can be regarded as the largest aluminium producer in Egypt, and its products are vehemently used for industrial and construction purposes.   


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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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