Aluminium Bahrain announces Q1 profit
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has reported a Profit of BD18.1 million (US$48.2 m) for the first quarter of 2025, a drop of 25.9% Year-over-Year (YoY), versus a Profit of BD24.5 m (US$65 m) for the same period in 2024. Earnings Per Share was fils 13 for Q1 2025 compared to fils 17 for the same period in 2024.
Total Comprehensive Income stood at B D1 6 . 8 m (US$44.7 m) versus BD27.7 m (US$73.6 m) for the same period in 2024 – a drop of 39.4% YoY. Gross Profit was BD50.8 m (US$135.1 m) versus BD 57.3 m (US$152.3 m) for the same period in 2024 - down by 11.3% YoY.
With regards to the Revenue from contracts with customers, Alba generated BD408.9 m (US$1,087.6 m) versus BD334.6 m (US$889.8 m) in Q1 2024 – up by 22.2% YoY.
Total Equity as of 31 March 2025 stood at BD1,902.7 m (US$5,060.4 m), down by 1.1%, versus BD1,923.9 m (US$5,116.9 m), as of 31 December 2024. Alba's Total Assets as of 31 March 2025 were BD2,706.9 m (US$7,199.2 m) versus BD2,673.4 m (US$7,110 m) as of 31 December 2024 – up by 1.25%.
Higher LME Price (+20% YoY) and higher premiums (+38% YoY) drove strong topline performance, increased production costs significantly compressed EBITDA resulting in lower bottom-line. Commenting on the Company's performance for the first quarter of 2025, the Chairman of Alba's Board of Directors, Khalid Al Rumaihi stated: '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 Officer, 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.' Alba Management will hold a conference call today at 4PM Bahrain Time to discuss the Company's financial and operational performance for Q1 2025 and outline its strategic priorities moving forward.
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