QAMCO reports QR835m net profit for 2021 – The Peninsula Qatar

QAMCO reports QR835m net profit for 2021 – The Peninsula Qatar

Qatar Aluminium Manufacturing Company (QAMCO), a 50 percent joint venture partner in Qatar Aluminum Limited Q.S.C. (Qatalum or JV), yesterday reported a net profit of QR835m for the year ended December 31, 2021, with earnings per share (EPS) of QR0.15.

Commenting on the financial and operational performance for the year ended December 31, 2021, Abdulrahman Ahmad Al Shaibi, Chairman of the Board of Directors, QAMCO, said: “The main highlight of 2021 was a sequential macroeconomic recovery leading to strong price trajectories for primary aluminum, operational excellence along with good business management in the continuing COVID-19 situation, which resulted in an improved set of financial results since QAMCO’s incorporation. While macroeco-nomic sentiments remained pos-itive, we continued to focus on operational excellence, safety, flexibility and sustainability. Our firm belief and commitment to HSE has successfully positioned our JV to meet our health, environment, and social responsibility targets. Going forward, our com-petitive strengths coupled with our operational excellence, would position us better for our long-term goals.”