Once again, Alba’s profits reach 1,000 million dollars in a consecutive year
Third Quarter Financial Performance
Aluminum Bahrain B. S. C. (Alba) (Listing Code: ALBH), one of the world’s largest aluminum smelters, reported a profit of 48 million BD (127. 6 million US dollars) for the third quarter of 2022, down 62% year-over-year (YoY), compared to cash inflows of BD125. 9 million ($335 million) for the same consistent period in 2021. The company reported consistent fundamental and diluted cash inflows with a consistent fils 34 percent for the third quarter of 2022 compared to fundamental and diluted cash inflows consistent with the consistent percentage of files 89 for the same period consistent in 2021. Comprehensive total source of cash inflows for the 3rd quarter of 2022 58. 2 million BD (154 , US$8 million) compared to a total all-in source of cash inflow for the 3rd quarter quarter 2021 of BD126. 4 million (US$336. 1 million), down 54% from a year earlier. Gross profit for the third quarter of 2022 BD79 million (US$210. 2 million) compared to BD157. 4 million (US$418. 5 million) for the same period in 2021, down 49. 8% year-on-year . Regarding cash inflow in Q3 2022, Alba generated BD 403. 2 million (US$ 1,072. 3 million) compared to BD 388. 9 million (US$ 1,034. 2 million) in 3Q 2021, an increase 3. 7% year-on-year.
Looking ahead to the nine months of 2022, Alba posted a profit of BD376. 7 million ($1,001. 9 million), up 39. 2% year-on-year from a profit of BD270. 7 million ($720 million). for the same consistent period in 2021. reported consistent fundamental and diluted earnings at a consistent percentage of Fils 266 for the nine months of 2022 compared to consistent fundamental and diluted earnings at a consistent percentage of Fils 191 for the same consistent period in 2021. Alba’s overall aggregate revenue stream for the nine months of 2022 BD416 million ($1,106. 6 million), up 51% year-on-year, compared to an overall comprehensive revenue stream of BD275. 5 million (USD 732. 7 million) in the same consistent period of 2021. gross for the nine months of 2022 BD 465 million (USD 1,236. 8 million). million) compared to BD 361. 5 million (US$961. 5 million) in the same consistent period of 2021, up 28. 6% year-on-year. Alba generated in the nine months of 2022 a turnover of 1,378. 5 million DB (3,666. 2 million dollars) compared to 1,061. 5 million DB (2,823. 1 million dollars) in the same period of 2021, a accumulation of 29. 9% year-on-year.
Total shareholder equity as of September 30, 2022 BD 1,783. 7 million (US$ 4,743. 9 million), 18. 7% more than BD 1,503 million (US$ 3,997. 4 million) as of December 31, 2021. Alba’s total assets as of September 30, 2022 were BD 2,729. 8 million dinars ($7,260. 1 million) compared to 2,624. 6 million dinars ($6,980. 3 million) as of December 31, 2021, a cumulative of 4%.
Alba’s profit was boosted by LME prices (down 11% year-on-year in the third quarter of 2022 and up 19% year-on-year during the nine months of 2022) despite solid sales volume expansion in both periods, while the third quarter and nine months of 2022 were driven by higher profits and partially impacted by prices and Higher distribution costs.
Industry Highlights for the Third Quarter of 2022
Falling demand: higher volatility and uncertainty (-0. 3% year-on-year)
Global market 3% year-over-year
LME and premiums
Alba ESG highlights in Q3 2022
Alba’s operational keys in the 3rd quarter of 2022
Near-term outlook for aluminium clouded by uncertainty and market sentiment
Priorities Alba 2022
Commenting on Alba’s monetary functionality for the nine months of 2022, Alba board chairman Shaikh Daikh Bin Salman Bin Daij Al Khalifa said:
“It didn’t take us 12 months to succeed on the $1 billion mark in revenue ($1 billion, up 39 percent year-over-year). With this strong performance, we have set a new benchmark in the face of market challenges. they are also more committed than ever to moving forward with the proposed allocation of Line 7 and making an investment in expanding Alba’s generation capacity to meet long-term market demand.
As we move into the close of 2022, we are confident of setting new precedents in our operating and monetary performance. “
Alba CEO Ali Al Baqali added:
“The foundations forged by Alba, thanks to the Line 6 extension project, have allowed us not only to meet the challenges, but also to open up new possibilities in terms of doing more with less. With increased uncertainty and volatility, we remain committed to excellence. In what we do best: safety, production and cost. »
Alba Management will hold a convention call on Monday, November 14, 2021 at 2:00 p. m. Bahrain is time to talk about its monetary and operational functionality for the third quarter and nine months of 2022, set the company’s priorities for 2022 and percentage data on existing market situations and prospects for 2022-2023.
-Ends-
About Aluminium Bahrain B. S. C. (dawn)
With more than 1,561 million metrics consistent with the year (2021), Alba is one of the largest aluminum smelters in the world with more than 50 years of excellence in compliance with conditions, safety, environment and socioeconomic development.
A major asset of the Kingdom of Bahrain, Alba ended five decades of business operations in May 2021. The company marked its Golden Jubilee breaking all past records and surpassed 30 million hours of lost time work (LTI) on September 1. 2022 for the first time in its history.
Alba manufactures aluminium products in the form of popular value-added products (VAPs), which it exports to more than 240 global consumers through its sales offices in Europe (Zurich), Asia (Hong Kong and Singapore) and its subsidiary in the United States. Alba states is indexed on the Bahrain Stock Exchange and the London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B. S. C. © (69. 38%), Sociedad de Inversiones Industriales SABIC (SIIC) (20. 62%) and the General Public (10%). Alba has globally recognized certifications such as ISO 9001, ISO 14001, ISO 27001, ISO 45001, IATF 16949:2016, ISO 22301:2012 Business Continuity Management System (BCMS) and ASI Pershapeance Standard Certification and Ecovadis Certification.
As the first aluminum smelter in the Middle East, Alba has been a major contributor to the social, commercial and economic progress of the Kingdom of Bahrain. Alba is at the centre of Bahrain’s thriving downstream aluminium sector, which accounts for around 12% of the Kingdom’s GDP. As one of the largest domestic companies, Alba has ensured not only the employment of Bahraini citizens (84% in 2021), but also capacity building through education, education and progression projects at each and every level of their careers.
Alba is identified as one of the most productive business corporations in the world with the best criteria in environmental practices, social contribution and corporate governance. Launched in February 2022, the company’s ESG roadmap defines 6 spaces of precedence: (1) Decarbonization, (2) Green Energy and Aluminum, (3) Circular Economy and Secondary Aluminum, (4) Employee Well-being, (5) Collaboration and Partnership, and (6) Transparency, Communication and Due Diligence. Since its creation, Alba has invested in environmental and sustainable progression. and socio-economic projects that have had a positive impact on society. Alba’s recent projects, such as the first US$37. 5 million waste-free tank repair plant and the upcoming 5-7 MW solar farm project, are tangible efforts to achieve the goals of Bahrain’s Economic Vision for 2030, as well as net zero carbon targets led through His Royal Highness the Crown Prince and the Prime Minister of Bahrain. Alba will play a very important role in the upcoming Aluminiu m Downstream Park, which will increase the contribution of non-oil sectors to Bahrain’s GDP.
Alba’s motto “Safety First, Protection Always” has ensured that the protection and well-being of its workers and the workforce of its subcontractors remains a very sensible priority. The company has been recognized worldwide for its fair record of protection and fitness. with awards such as the RoSPA Gold Award (9 consecutive years) and the International Award with Merit from the British Safety Council, as well as six main awards from the National Safety Council (NSC) USA Awards for 2021. Alba has also been identified for her projects to produce aluminium responsibly through awards such as Top ESG Performer in Bahrain through ESG Invest, Safeguard Label through Bureau Veritas and Best Corporate Governance Award through Ethical Boardroom.
Expansion Project of Block Four of the Alba cinco Power Plant
Alba Power Station five (PSfive) Block four is a combined cycle power plant that is an extension of the existing PSfive.
The PS5 Block Four assignment is the addition of a fourth 1:1:1 configuration block with Class J fuel turbine generation and with a minimum ISO score of 680. 9 MW and includes a connection to the existing 220 kV substation. The combined cycle plant is much higher than that of the PS3 and PSfour combined cycle plants. Upon completion of the PS5 Block 4 expansion allocation, PS5’s rated capacity will increase from 1800 MW to 2481 MW.
The Mitsubishi Energy Consortium
Alba’s external mechanism
Alba’s external grievance mechanism receives and facilitates the resolution of affected communities’ considerations and grievances related to environmental and social functionality (E
Alba’s reaction to the COVID-19 pandemic
Alba’s COVID-19 reaction strategy was introduced in January 2020 in accordance with the rules of Bahrain’s National Coronavirus (COVID-19) Working Group. The company was able to maintain safe operations in 2021 thanks to its agile workforce: workers and subcontractor staff. .
For more information, please contact: Eline Hilal Director, Investor Relations, Insurance
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