Alba Discloses its Financial Results for the First Quarter of 2024

Alba Discloses its Financial Results for the First Quarter of 2024

Q1 2024 Financial Performance Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), one of the world’s largest aluminium smelters, has reported a Profit of BD24.5 million (US$65 million) for the first quarter of 2024, a drop of 48% Year-over-Year (YoY), versus a Profit of BD47.5 million (US$126.2 million) for the same period in 2023. The Company reported Basic and Diluted Earnings Per Share of fils 17 for Q1 2024 versus fils 34 for the same period in 2023.Total Comprehensive Income for Q1 2024 stood at BD27.7 million (US$73.6 million) versus BD37.1 million (US$98.7 million) for the same period in 2023 – a drop of 25% YoY. Gross Profit for Q1 2024 was BD57.3 million (US$152.3 million) versus BD 79.9 million (US$212.4 million) for the same period in 2023 – down by 28% YoY.With regards to the Revenue from contracts with customers in Q1 2024, Alba generated BD334.6 million (US$889.8 million) versus BD369.9 million (US$983.8 million) in Q1 2023 – a drop of 10% YoY.Total Equity as of 31 March 2024 stood at BD1,794.9 million (US$4,773.6 million), up by 0.3%, versus BD1,789.2 million (US$4,758.6 million), as of 31 December 2023. Alba’s Total Assets as of 31 March 2024 were BD2,575.5 million (US$6,849.6