Alba Financial Results for 2020
Aluminium Bahrain has a Profit of BD 9.7 million (USD25.9 million) for 2020, up by 81% YoY. Alba’s Total Comprehensive Income for the Full-Year of 2020 was BD 1.4 million, down by 73% YoY. Gross Profit for 2020 was BD 141 million versus BD 90.2 million in 2019, up by 56% YoY. Alba’s top-line was driven in 2020 by higher metal Sales’ volume (14% YoY) and partially offset by lower LME price [down by 5% Year-over-Year (USD 1,702/t in 2020 versus USD 1,792/t in 2019)] while the bottom-line was driven by higher top-line and partially impacted by higher depreciation, financial charges and foreign exchange losses.
2020: Alba Major Operational Highlights
Alba inked MoU with Hangzhou Jinjiang Group Co Ltd to explore future upstream development opportunities
Strong operational performance: Sales’ volume up by 14% YoY to 1,540,983 tonnes, Production up by 13% YoY to 1,548,500 tonnes while VAP Sales averaged 44%.
Growing presence in Asia with establishing a Branch in Singapore
Successful completion of Port Upgrade project