Manama, May 13 (BNA): Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter on one site, reported a profit of BD18.1 million (US$48.2 million) for the first quarter of 2025, a decline of 25.9% year-on-year, compared to a profit of BD24.5 million (US$65 million) for the same period in 2024.

The company announced basic and diluted earnings per share of 13 fils for the first quarter of 2025, compared to 17 fils for the same period in 2024.

Total comprehensive income for the first quarter of 2025 amounted to BD16.8 million (US$44.7 million), compared to BD27.7 million (US$73.6 million) for the same period in 2024 – a decline of 39.4% year-on-year. Gross profit for the first quarter of 2025 was BD50.8 million (US$135.1 million), compared to BD57.3 million (US$152.3 million) for the same period in 2024 – down by 11.3% year-on-year.

Regarding revenue from contracts with customers, Alba achieved BD408.9 million (US$1,087.6 million) for the first quarter of 2025, compared to BD334.6 million (US$889.8 million) in the first quarter of 2024 – an increase of 22.2% year-on-year.

Total equity as of 31 March 2025 stood at BD1,902.7 million (US$5,060.4 million), down by 1.1%, compared to BD1,923.9 million (US$5,116.9 million) as of 31 December 2024. Total assets as of 31 March 2025 were BD2,706.9 million (US$7,199.2 million), compared to BD2,673.4 million (US$7,110 million) as of 31 December 2024 – an increase of 1.25%.

Higher London Metal Exchange (LME) prices (+20% year-on-year) and higher premiums (+38% year-on-year) contributed to strong revenue performance. However, increased production costs significantly compressed earnings before interest, tax, depreciation and amortisation (EBITDA), resulting in lower profit.

Alba celebrates its environmental, social and governance (ESG) achievements and outlines future plans:

Safety first. Safety always

· Alba won six awards from the National Safety Council for 2025

· Honoured with the Royal Society for the Prevention of Accidents’ (RoSPA) Life President Award for outstanding safety performance

· Launched a site-wide safety and health campaign under the slogan ‘Be an Albawee in Ramadhan’

Empowering employees

· 56 Bahraini employees successfully completed the ‘Al Jisr’ training and development programme

· Promoted three Bahrainis to key leadership positions

· Celebrated the promotion of 2,082 Bahraini employees over the past five years and achieved an 87% Bahrainisation rate

· Honoured 15 exceptional employees, including seven women, with the ‘Inspirational Employee of the Year’ Award

Sustainability and environmental stewardship

· Commenced the use of electric, battery-powered aluminium fluoride feeding vehicles

· Joined the Sea Cargo Charter, reinforcing its commitment to sustainable shipping

· Recognised top-performing contracting companies for their performance in safety and worker well-being at Alba

Positive community impact

· Became the first company in the Kingdom of Bahrain to join Tamkeen’s Open Innovation Programme, aimed at sourcing innovative solutions from Bahraini startups and SMEs

Alba’s operational performance highlights

Despite market challenges, sales volume reached a healthy 374,809 metric tonnes, up by 3% year-on-year.

Net finished production slightly declined by 2% year-on-year, reaching 396,866 metric tonnes.

Value-added sales accounted for 71% of total shipments, marking a 5% year-on-year increase (265,657 metric tonnes in Q1 2025 versus 252,772 metric tonnes in Q1 2024).

Savings from the e-Al Hassalah programme amounted to US$30.9 million compared to the 2025 target of US$60 million.

Alba: Safety, sustainability, success

Leading the way: Safety first, sustainability always

· In line with the Kingdom of Bahrain’s 2060 net-zero carbon commitment, Alba incorporates sustainability at every stage of operations from raw material sourcing to product delivery to reduce its environmental footprint

Operational excellence and growth

· Exceeded 2024’s net finished production of 1,622,261 metric tonnes

· Achieved the 2025 e-Al Hassalah cost-saving target of US$60 million and continues progress toward the 2026 target of US$150 million

Capacity expansion and efficiency enhancement

· Leveraging leading industry certifications such as Aluminium Stewardship Initiative, EcoVadis, and low-carbon aluminium product EternAlTM to enter new markets and boost value-added sales

· Completed a solar farm project (+6 MW) to enhance clean energy use

· Established Alba Daiki Sustainable Solutions for aluminium dross processing by September 2026

· Completed feasibility study for the new replacement line to substitute Reduction Lines 1 to 3

Commenting on the company’s financial performance for Q1 2025, Khalid Al Rumaihi, Chairman of Alba’s Board of Directors, said:

"Alba’s Q1 2025 results confirm the strong fundamentals and operational efficiency of our business.

While profit was clearly affected by the increase in alumina prices, we believe that had prices remained at their previous levels, Alba would have delivered exceptional financial results, reflecting our inherent earnings potential."

Ali Al Baqali, Chief Executive Officer of Alba’s, added:

"Despite the ongoing global geopolitical tensions, Q1 2025 was marked by several unprecedented achievements: we recorded our highest-ever sales volume, value-added sales reached record levels, and, most importantly, we delivered the best safety performance in the company’s history.

These exceptional achievements are the result of the commitment and operational excellence demonstrated by the entire Alba team."

Alba management will hold a conference call on Wednesday, 14 May 2025, at 4:00 PM Bahrain time to discuss the company’s financial and operational performance for Q1 2025 and identify its strategic priorities for the coming period.

A.S, Z.I