Aluminium Bahrain B.S.C. (Alba) offered the market a taste of the first quarter financial and production results it expects to release late this month when it boasted of best-ever sales numbers for the three-month period ending on March 31.
Per the press release issued yesterday, Alba says it broke records in operational performance with a sales volume of 252 thousand metric tons in the quarter, a 3.6-percent rise year-on-year. Production was strong in the quarter, improving by 4.3 percent over last year’s first-quarter numbers to 259 thousand metric tons.
Alba’s total production was not the only number to improve in the quarter, as the first three months of the year saw the firm’s share of value-added sales rise by 2 percent year-on-year, from 56 percent in the first quarter of 2017 to 58 percent in this year’s first quarter.
Alba’s Chief Executive Officer Tim Murray greeted the numbers as a validation of the firm’s efforts at continually improving efficiency.
“Despite the market’s volatility, we continue to capitalize on our culture of ‘always do better than necessary’ and were able to stretch our targets thanks to our operational efficiency and dedication of our employees.
“We aim to continue with the same momentum to reach 1 Million mt production by the end of 2018.”
Alba plans to release full first-quarter results three weeks from yesterday.
Aluminium Bahrain B.S.C., or simply Alba, is one of the largest industrial companies in the Middle East and is one of the top 10 largest aluminium producers in the world. Originally incorporated in 1968, the company is based in Bahrain and 84% of its total workforce are Bahraini nationals. It began operations in 1971 with a 120,000 metric ton annual capacity. Modernization bumped the output up to 450,000 metric tons in 1992. In the spring of 2005, Alba opened Line 5, raising output by 860,000 metric tons per year. In 2016 Alba’s smelter produced 971,420 metric tons of primary aluminium.