Bahrain: Alba revenues up 16% in 2022; profit at $1.1bln

Bahrain: Alba revenues up 16% in 2022; profit at $1.1bln

Aluminium Bahrain (Alba), one of the world’s largest aluminium smelters, has reported a revenue of BD1,840.9 million ($4,896.1 million) for 2022, up 16% YoY, compared to BD1,584.8 million ($4,215 million) for 2021.

However, the full year profit showed a 8 per cent decline at BD416.2 million ($1,106.8 million) versus BD451.9 million ($1,201.8 million) in 2021.

Q4 figures

The company showed a profit of BD39.4 million ($104.9 million) for the fourth quarter of 2022, down by 78% year-over-year (YoY) versus a profit of BD181.2 million ($481.8 million) for the same period in 2021, a statement said.

The company reported basic and diluted earnings per share of Fils 28 for Q4 2022 versus Fils 128 for Q4 2021.

The total comprehensive income for Q4 2022 stood at BD36.6 million ($97.3 million) versus a total comprehensive income for Q4 of 2021 of BD183 million ($486.8 million) – down by 80% YoY. Gross profit for the fourth quarter of 2022 was BD80.6 million ($214.3 million) versus BD215.5 million ($573.2 million) in Q4 2021 – a drop of 63% YoY.

Alba achieved a revenue of BD462.4 million ($1,229.8 million) in Q4 2022 versus BD523.3 million ($1,391.7 million) for the same period in 2021 – a drop of 12% YoY.

The company reported