Alba posts $205.7mln profit: Bahrain

Alba posts $205.7mln profit: Bahrain

Aluminium Bahrain (Alba), the world’s largest aluminium smelter outside China, has reported a profit of BD29.9 million ($79.5m) for the second quarter of 2023, down by 83.6 per cent year-over-year (YoY), versus a profit of BD181.9m ($483.9m) for the same period in 2022.

The company reported basic and diluted earnings per share of 21 fils for Q2 2023 versus basic and diluted earnings per share of 128 fils in Q2 2022. The total comprehensive income for Q2 2023 stood at BD34.4m ($91.5m) versus total comprehensive income for the second quarter of 2022 of BD201.9m ($536.9m) – down by 83pc YoY.

Gross profit for Q2 2023 was 67.9m ($180.6m) versus BD208m ($553.2m) for the same period in 2022 – down by 67pc YoY. With regards to the revenue from contracts with customers in Q2 2023, Alba generated BD387m ($1,029.3m) versus BD520.4m ($1,384m) in Q2 2022 - down by 25.6pc YoY.

For the first half of 2023, Alba has reported a profit of BD77.4m ($205.7m), down by 76.5pc YoY versus a profit of BD328.7m ($874.3m) for the same period in 2022. The company reported basic and diluted earnings per share of 55 fils for H1 2023 versus basic and diluted earnings per share of 232