MANAMA: Aluminium Bahrain (Alba) on Wednesday reported strong sales figures for the first quarter up 3.1% year-on-year (YoY) to 226,472 metric tonnes (mt) while production figures were up by 2.1% YoY to reach 232,298 mt ahead of the company’s own forecast for the period (versus 227,414 mt for Q1 2013).
Alba closed the first quarter of 2014 with an average of 66% in value-added sales on the back of sound demand of Value-Added products.
“The underlying physical demand and premiums remains very strong. Alba was able to deliver on its marketing strategy as a way to contribute to the bottom line despite the lower LME prices,” commenting on Alba’s sales and production figures for Q1 2014, Alba’s Chief Executive Officer, Tim Murray said.
Aluminium Bahrain B.S.C (Alba) will release its first quarter 2014 financial results to the public on Thursday, May 8, 2014 as well as upload the IR presentation on its investor relation section at www.albasmelter.com.
Aluminium Bahrain B.S.C. (Alba) – one of the largest and modern aluminium smelters in the world – is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record for safety. Established in 1971 as a 120,000 tonnes per annum smelter, Alba today produces more than 912,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium.
Alba is listed on both the Bahrain Bourse and London Stock Exchange, and the company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).