Alba’s 2017 Net Income Jumps by 91%YoY to reach US$ 246 million

World consumption at 63.6 million metric tonnes (mt) and up by 6% Year-over-Year (YoY).

Asian demand rose by 7% YoY led by consumption in China (+8% YoY). MENA demand remains strong (+4% YoY) driven by major infrastructure spending in Saudi Arabia (+12% YoY). Europe consumption up by 3% YoY driven by strong growth in transport (auto body sheet), building and construction sectors while demand in North America continues with the same momentum (+2% YoY) denominated by the automobile production.

World production up by 8% YoY (63.5 million mt). Asia Production up by 12% YoY supported by Chinese output (+13% YoY) despite winter closures and partially offset by new smelters’ restarts. North America & Europe production down by 2% YoY and 1% YoY respectively.

World market in deficit with China (-43 Kt) and in deficit w/o China (-1.9 million mt).

LME inventories at 1.1 million mt in December (down by 50% YoY).

Physical premiums prices almost flat ($/t).

2017 Alba Highlights:

Continuous improvement on Safety performance with the launch of ‘Safety in All Seasons’ Campaign.

Sales volume up by 0.4% YoY to reach 978,195 mt while Production topped 981,016 mt (+1% YoY).

2017 Value-Added Sales averaged 57% versus 56% in 2016.

Project Titan - Phase II: normalised savings of US$ 79/mt versus a target of US$ 100/mt with taking into account the benefits of insurance claim.

Line 6 Expansion Project milestones::

Line 6 Smelter [5 million-hours w/o LTIs; overall progress: 40%]

Power Expansion [3 million-hours w/o LTIs; overall progress of Power Station 5 (PS 5) at 47% & PDS at 65%]

Alba signs MoU with GE for 4th GT block in PS 5.

Alba and Bechtel sign MoU to explore further opportunities.

Full-Year & Q4 2017 Results

Alba closed 2017 strong - the sound financial performance reflected the Company’s resilience in setting the benchmark on Line 5 recovery and was driven by favourable management performance.

The Company reported Total Sales of BD 857.8 million (US$ 2.3 billion) in 2017, up by 28% versus BD 669.8 million (US$ 1.8 billion) in 2016 while Q4 2017 Total Sales stood at BD 252.7 million (US$ 672.2 million), up by 39% versus BD 181.6 million (US$ 483.0 million) for the same period in 2016 – both driven by higher LME prices.

The Company generated a Net Income of BD 92.5 million (US$ 245.9 million) in 2017, up by 91% compared to BD 48.4 million (US$ 128.7 million). As for the fourth quarter of 2017, Alba posted a Net Income of BD 23.5 million (US$ 62.4 million), up by 72% versus BD 13.7 million (US$ 36.5 million) for the same period in 2016

The Company generated a Net Income of BD 92.5 million (US$ 245.9 million) in 2017, up by 91% compared to BD 48.4 million (US$ 128.7 million). As for the fourth quarter of 2017, Alba posted a Net Income of BD 23.5 million (US$ 62.4 million), up by 72% versus BD 13.7 million (US$ 36.5 million) for the same period in 2016.

Alba’s Board of directors recommended a dividend distribution of BD 36.8 million (US$ 97.9 million) for the fiscal year 2017 which will be paid from March 21, 2018.

2018 Alba Priorities:

Continued focus on Safety with new “Safety Selfie” initiative

Deliver on Project Titan - Phase III (2018: 1,000,000 mt & US$ 60/t)

Leverage strong physical demand on Value-Added Sales

Line 6 Expansion Project on schedule:

Finalize ECA Financing - second tranche by Q1 2018

Award the remaining packages

Aluminium Bahrain B.S.C. (Alba) released its Full-Year and Fourth Quarter of 2017 Results during a meeting of the Company’s Board of Directors on Thursday February 08, 2018. The Board, also, approved the appointment of Dr. Abdulla Habib as the acting Chief Operations Officer (COO) with immediate effect.

Alba Management will be holding a conference call on Monday February 12, 2018 to discuss Alba's performance for the 2017 Full-Year Results as well as outline the Company's priorities for 2018.

News No: 1920
Date: 2018/02/09 - 02:50
News Source: Alba

Alba  MENA  Aluminum  LME  Project Titan 


Leave a Comment:


Vibratory or Belt? Conveyors for Every Angle

A major player in the aluminum automotive components industry was frustrated by the capabilities of an integral part of their die casting process: the use of belt conveyors. Although extremely common to handle scrap material in die casting facilities, this type of conveyor in this environment is renowned for causing production shutdown and maintenance issues.

European Union likely to Impose Definitive Tariffs on Steel Imports: Reports

According to the latest reports, European Union (EU) countries are likely to approve a scheme to limit steel imports in the 28-nations bloc on 16 Jan’19.

A cold blast from China chills industrial metals markets: Andy Home

Base metals started the new year where they left off the old one, by falling again.The London Metal Exchange index (LMEX) slumped to a one-and-a-half year low of 2730.1 on Jan. 3.The trigger was Apple Inc's revenue warning, not the type of news event that normally roils prices of old-economy metals such as copper, lead and zinc.

Iran: Government Aims to Maintain its Current State of Production and Sales

Iran, one of the largest steel producer and exporter in MENA region has produced 22.53 MnT crude steel in the 11 months of CY’18 as per the data released by World Steel Organization.

Iran Billet Export Offers Continue to Decline

Iran, one of the major billet exporter in MENA region is currently facing economic sanctions from US, owing to which export of steel has been adversely affected. Recently, on 04 Nov’18, US imposed 2nd phase of sanctions targeting the banking, insurance and shipping industry, which has made the exports more difficult.

Tehran, Ankara Pledge to Expand Economic Cooperation

Iranian President's Chief of Staff Mahmoud Vaezi and Turkish Finance Minister Berat Albayrak met in Ankara on Friday, and voiced their respective governments’ willingness to broaden economic cooperation between the two neighboring countries.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners