Alba discloses its Financial results for the second quarter and H1 of 2020

Alba discloses its Financial results for the second quarter and H1 of 2020

Q2 & H1 2020 Financial Performance

World consumption up by 5% year-on-year (YoY) while world production up by 7% YoY. Asian demand rose by 7% YoY supported by the Chinese consumption (9% YoY). MENA demand remains strong (6% YoY) driven by infrastructure spending in Saudi Arabia and Qatar. Prospects for the demand in North America continues to be good (3% YoY) due to the growth in the transport and construction sectors. Europe consumption remains stable (1% YoY) and is mainly denominated by the transport sector. With regards to the First Half of 2020, Alba has reported a Loss of BD10.6 million (US$28.3 million), down by 44% YoY versus a Loss of BD19.1 million (US$50.9 million) for the same period in 2019. For the First Half of 2020, Alba reported Basic and Diluted Loss per Share of fils 8 versus Basic and Diluted Loss per Share of fils 14 for the same period in 2019. Alba's Total Comprehensive Loss for H1 2020 was BD19.8 million (US$52.7 million), up by 4% YoY, compared to a Total Comprehensive Loss of BD19.1million (US$50.9 million) in H1 2019. Gross Profit for the First Half months of 2020 was BD55.2 million (US$146.8 million) versus BD16.2 million