Aluminium Bahrain's profit drops 91% YoY to $14.31m in FY 2019

Published: 16 February 2020 - 2:04 a.m.

The world’s largest aluminium smelter outside of China, Aluminium Bahrain (Alba), has reported a profit and total comprehensive income of $14.31m (BD5.38m) in 2019, down by 91% compared to $158.92m (BD59.76m) in 2018.

The company also revealed a net profit and total comprehensive income of $36.76m (BD13.82m) for Q4 2019, as compared to a total comprehensive loss of $46.65 million (BD17.54m) for Q4 2018, recording an increase of 179% year-on-year.

For FY 2019, Alba reported a revenue from contracts and customers worth $2,737.7m (BD1,029.38m), recording a 13% increase year-on-year, compared to $2,423.7m (BD911.3m) in 2018.

Alba's financial performance for 2019 was driven by higher metal sales' volume, owing to the Line 6 ramp-up, its flagship expansion project.

The company's financial performance was partially offset during the year due to lower London Metal Exchange (LME) prices, which saw a decline of 15% year-on-year.

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