Alba announces its financial results for 2019

Alba announces its financial results for 2019

Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter ex-China, has reported a Profit and Total Comprehensive Income of BD13.82 million (US$36.76 million) for the fourth quarter of 2019 versus a Loss and Total Comprehensive Loss of BD17.54 million (US$46.65 million) for the same quarter of 2018, an increase of 179% Year-over-Year (YoY).. The Company reported a Gross profit of BD44.77 million (US$119.08 million) for the fourth quarter of 2019 versus a Gross loss of BD8.37 million (US$22.26 million) for the same quarter of 2018, an increase of 635% YoY.. Overall, the Company's financial performance was driven by higher metal sales' volume thanks to Line 6 ramp-up and was partially offset by lower LME prices (down by 15% YoY).. The World consumption reached 64.5 million metric tonne (MT) [2018: 65 million MT] with Asia consumption down by 1% YoY with Japan and South Korea leading this decline, Europe demand slowed-down by 2% YoY due to weaker demand in the auto sector, North America demand collapsed by 4% YoY due to a decline in manufacturing; , MENA consumption shrunk by 5% YoY fuelled by geopolitical tension.. , Alba's Board of Directors approved the appointment of Mr. Ali Al Baqali as the