Page 21 - DUBAL HOLDING PR REPORT - FEBRUARY 2024

2/26/24, 11:06 AM DUBAL Holding logs AED 1.8bn net profit in 2023; eyes more expansion - Almasryalyoum - Mubasher

The company attributed the profit achieved last year to international acquisition,
new expansion, and positive operational performance, according to a press
release.

Plans for more expansion

In addition to the acquisition of Thermalex in the US' Alabama, DH is exploring
further opportunities, including large profiles and machined components for the

automotive, industrial, and new energy sectors such as hydrogen.

The company is also considering establishing a recycled aluminium/cast house
facility from extrusions/profiles to utilize scrap generated from group companies,
producing billets meeting specific customer requirements for low-carbon

initiatives.

DH, along with its consortium partners, is making efforts to construct a large
waste-to-energy facility in Warsan, Dubai.

Named First Fire, the project started producing electricity by burning municipal
solid waste (MSW) and achieved the design capacity of burning 5,555 tonnes of
MSW in a single day. The project's construction is expected to be fully completed
by July 2024.

Mohammed Al Tayer, Chairman of DUBAL Holding, said, “This strategic
direction contributed to enhancing the competitiveness of the UAE and Dubai in
the global aluminium markets. When reflecting on the successes of 2023, we are

on track to make global investments in a range of industries to provide growth
and long-term financial returns for our shareholders.”

“Our investments are also driven by a commitment to building a greener future
and have supported ambitious and sustainable initiatives including the Dubai

Industrial Strategy 2030 that aims to make Dubai a preferred manufacturing
platform for global businesses, Dubai Economic Agenda (D33), Dubai Clean

https://mubasher.almasryalyoum.com/news/4257730/DUBAL-Holding-logs-AED-1-8bn-net-profit-in-2023-eyes-more-expansion/lang/en 2/3