Alba, the world’s largest aluminium smelter on one site, has reported a profit of BD18.1 million ($48.2m) for the first quarter of 2025, a drop of 25.9 per cent year-over-year (YoY), versus a profit of BD24.5m ($65m) for the same period in 2024.
The company reported basic and diluted earnings per share of 13 fils for Q1 2025 versus 17 fils for the same period in 2024.
Total comprehensive income for Q1 2025 stood at BD16.8m versus BD27.7m for the same period in 2024 – a drop of 39.4pc YoY.
Gross profit for Q1 2025 was BD50.8m versus BD57.3m for the same period in 2024 - down by 11.3pc YoY.
With regards to the revenue from contracts with customers, Alba generated BD408.9m versus BD334.6m in Q1 2024 – up by 22.2pc YoY.
Total equity as of March 31, 2025 stood at BD1,902.7m, down by 1.1pc, versus BD1,923.9m, as of end-2024.
Alba’s total assets as of March 31, 2025 were BD2,706.9m versus BD2,673.4m as of December 31, 2024 – up by 1.25pc.
Higher LME price (+20pc YoY) and higher premiums (+38pc YoY) drove strong top-line performance, increased production costs significantly compressed EBITDA resulting in lower bottom-line.
Commenting on the company’s performance for the first quarter of 2025, Alba chairman Khalid Al Rumaihi said: “Alba’s Q1 2025 results underscore the fundamental strength and operational efficiency of our business. While our reported profit reflects the significant impact of higher alumina prices, it’s important to recognise that had these prices remained at previous levels, Alba would have undoubtedly achieved an unparalleled financial performance, demonstrating our inherent earnings potential.”
Alba’s chief executive Ali Al Baqali added: “Despite the prevailing global geopolitical tensions, Q1 2025 was a landmark period for Alba marked by many firsts: we recorded the highest sales volume, achieved a record Value Added Sales percentage and most importantly, delivered our best safety performance ever in the company’s history. These firsts are a direct result of the commitment and operational excellence exhibited by the entire Alba team.”
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