Manama: Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter on one site, has announced a net profit attributable to its equity holders of BHD64.9 million (USD172.5 million) for the second quarter of 2026, marking a 164% increase compared to the same period in 2025 when the profit was BHD24.6 million (USD65.4 million). According to Bahrain News Agency, the company's basic and diluted earnings per share rose to 46 fils for Q2 2026 from 17 fils in Q2 2025. Total comprehensive income for Q2 2026 was BHD64.5 million (USD171.5 million), a 195% increase from BHD21.9 million (USD58.1 million) in the same quarter of the previous year. For the first half of 2026, Alba reported a profit attributable to its equity holders of BHD140.2 million (USD372.8 million), up 228% year-over-year compared to BHD42.7 million (USD113.5 million) for the same period in 2025. The company's basic and diluted earnings per share for H1 2026 increased to 99 fils from 30 fils in H1 2025. Alba's total comprehensive income f or H1 2026 was BHD140.6 million (USD374 million), a 264% increase from BHD38.6 million (USD102.8 million) in H1 2025. Equity attributable to Alba's owners as of 30 June 2026 stood at BHD2,163.5 million (USD5,753.9 million), a 4% rise from BHD2,084.6 million (USD5,544.2 million) as of 31 December 2025. The company's total assets increased by 9%, reaching BHD2,867.2 million (USD7,625.6 million) as of 30 June 2026 compared to BHD2,623.3 million (USD6,976.8 million) at the end of 2025. Operationally, Alba's sales volume in Q2 reached 280,799 MT, a 32% decrease year-over-year, impacted by regional shipping and logistics disruptions. Net finished production was 155,469 MT, down 61% year-over-year, mainly due to the controlled shutdown of L1-2-3 amid regional tensions. Value-added products accounted for 70% of total shipments, with volumes of 195,891 MT, a 38% decrease year-over-year, aligning with Alba's value-over-volume strategy. The company proactively adjusted production levels to address raw material availa bility constraints while maintaining safe and stable operations. By optimizing alumina utilization and managing inventory and supply chain flows, Alba preserved smelter stability and operational reliability, ensuring readiness to respond efficiently as conditions improve. Aluminium prices are anticipated to remain high due to constrained supply conditions, though market dynamics are influenced by macroeconomic and geopolitical factors. Demand remains resilient despite inflationary pressures, high energy costs, and softer industrial activity in some regions, with structural deficits in North America and Europe supporting market fundamentals. Chinese demand benefits from export-oriented manufacturing activity, while global supply growth is moderated by China's long-term capacity cap policy. Khalid Al Rumaihi, Chairman of Alba's Board of Directors, commented on the Q2 2026 performance, highlighting the company's resilient financial performance amid regional tensions and supply chain disruptions. He emphasized Alba's operational discipline, cost management, and strategic focus, noting the company's ability to generate USD295 million in EBITDA and USD173 million in profit. Al Rumaihi also mentioned progress on the proposed acquisition of Aluminium Dunkerque, with Bpifrance's co-investment reflecting strong local institutional support and confidence in Alba's role as a strategic shareholder. The transaction is subject to regulatory approvals and customary closing conditions, with Alba providing market updates as necessary. Alba's CEO, Ali Al Baqali, emphasized the actions taken during the quarter to safeguard people, assets, and long-term operational capability. Through disciplined production curtailments and rigorous management of raw material flows, Alba maintained operational stability despite unprecedented supply chain challenges, preserving the flexibility needed for a swift recovery as conditions improve.
Menu