Alba one of the world s largest aluminium smelters has reported a profit of BD24.5 million ( 65m) for the first quarter of 2024 a drop of 48 per cent year-over-year (YoY) versus a profit of BD47.5m ( 126.2m) for the same period in 2023. The company reported basic and diluted earnings per share of 17 fils for Q1 2024 versus 34 fils for the same period in 2023. Total comprehensive income for Q1-2024 stood at BD27.7m versus BD37.1m for the same period in 2023 a drop of 25pc YoY. Gross profit for Q1-2024 was BD57.3m versus BD79.9m for the same period in 2023 down by 28pc YoY. With regards to the revenue from contracts with customers in Q1 2024 Alba generated BD334.6m versus BD369.9m in Q1 2023 a drop of 10pc YoY. Total equity as of March 31 2024 stood at BD1 794.9m up by 0.3pc versus BD1 789.2m as of December 31 2023. Alba s total assets as of end-March 2024 were BD2 575.5m versus BD2 553.6m as of end-2023 up by 0.9pc. Alba s top-line and bottom-line were driven by lower LME prices (down by 8pc YoY in Q1-2024) and lower premiums (down by 27pc YoY in Q1 2024). Commenting on the company s performance for the first quarter of 2024 Alba chairman Khalid Al Rumaihi stated: Despite market headwinds and lower LME prices our commitment to operational excellence yielded good results in Q1 2024. In fact if commodity prices (LME and premium prices) had remained at Q1 2023 levels we are confident we would have delivered an even stronger performance for this quarter. Such performance positions us as a frontrunner to capitalise on the upswing in LME prices driven by global aluminium demand boom. Furthermore our focus to strategic priorities equips us to navigate 2024 with agility capitalising on emerging opportunities. Alba chief executive Ali Al Baqali added: While the overall economic climate remains challenging we are laser-focused on the controllable aspects of our business: safety streamlined operations and a rigorously cost-effective structure. This focus coupled with the dedication of our entire team empowers us to thrive even in these challenging economic conditions.

Alba one of the world s largest aluminium smelters has taken a groundbreaking step towards a greener future with the launch of EternAl its low carbon aluminium product line with two initial variants: EternAl-30 and EternAl-15 with a 30 per cent and 15pc recycled content respectively. The EternAl product line marks a major milestone in the company s ESG Roadmap particularly its commitment to a Circular Economy and Secondary Aluminium while it also addresses the growing global demand for low carbon aluminium. Alba s commitment to responsible production is further emphasised by the independent verification of both EternAl products by DNV a globally recognised leader in verification assurance. This verification assures customers that EternAl significantly reduces emissions throughout the aluminium value chain. At Alba we re not just aligned with Bahrain s vision for a sustainable future we re actively taking part in it said chairman Khalid Al Rumaihi. Our commitment to achieving Net Zero by 2060 is a cornerstone of this vision. Our innovative EternAl-30 and EternAl-15 products incorporating 15pc and 30pc recycled scrap metal are not just about reducing our environmental footprint it s a significant leap forward for the entire aluminium industry. Our products not only meet the growing demand for sustainable solutions but empower our customers to be part of the change. Alba chief executive Ali Al Baqali said: This groundbreaking low-carbon aluminium product marks a major milestone in our journey towards a sustainable future not just for Alba but across the entire supply chain. By utilising up to 30pc recycled scrap metal we re not only minimising our environmental footprint but also empowering our partners and customers to make a significant contribution to achieving their own sustainability goals. This innovation paves the way for a more sustainable future in the aluminium industry one where every step of the supply chain can be part of the solution. With the roll-out of EternAl-30 and EternAl-15 products Alba looks forward to meeting the demands of its customers and enabling them to significantly reduce their carbon footprint by procuring more sustainable primary aluminium products.

Alba chief executive Ali Al Baqali celebrated the first class of the aluminium smelter s Top-Up BE in Mechanical Engineering (honours) Programme from the University of Huddersfield (UK) in the presence of senior Alba officials and faculty members. The 24 enrolled employees representing various departments showcased their final projects at an exhibition on the same day at Alba s Oasis Hall. On the occasion Mr Al Baqali commended the employees for the exceptional calibre of their final projects and expressed his anticipation to see how the knowledge gained from this programme will be implemented to propel Alba forward in line with its vision. The programme aligns with Alba s ongoing commitment to building and developing the capabilities of its national employees. The first batch of the programme was launched last October at the company s Training Workshops Building.

Alba one of the world s largest aluminium smelters has achieved the pinnacle of sustainability recognition the EcoVadis Platinum Rating. This prestigious distinction from EcoVadis a world-renowned provider of business sustainability assessments places the Bahrain-based company among the elite 1 per cent of companies evaluated worldwide. The remarkable accomplishment marks the culmination of Alba s unwavering commitment to environmental stewardship. Just three years ago Alba embarked on this journey with a Bronze Rating followed by a Silver Rating in 2023. This continuous improvement demonstrates a deep-rooted sustainability strategy driving positive change. We are incredibly honoured to receive the EcoVadis Platinum Rating said Alba chief executive Ali Al Baqali. This recognition serves as a powerful validation of our relentless pursuit of sustainable practices. Environmental and social impact are paramount to our growth strategy and we remain firm in our mission to be an eco-friendly smelter contributing to a greener Bahrain and a more sustainable world. Further to celebrate Alba s achievement EcoVadis will plant a tree through their partnership with One Tree Planted an environmental non-profit tree planting charity that plant trees in countries around the world. The EcoVadis sustainability rating is one of the world s largest and most trusted global corporate social responsibility performance assessment platforms providing ratings for companies based on their sustainable practices across four pillars: environment social and human rights ethics and responsible purchasing.

Alba one of the world s largest aluminium smelters has inked an agreement with SAP a market leader in enterprise application software to upgrade its enterprise resource planning solution (ERP) to SAP s latest software S/4HANA Cloud. With this move Alba will accelerate its digital transformation journey and Industry 4.0 adoption to adapt to ever-changing business needs. Alba chief executive Ali Al Baqali and SAP Middle East Africa-North senior vice-president Ahmed Al Faifi attended a signing ceremony held at Alba premises along-side senior officials from Alba and SAP. Mr Al Baqali commented: At Alba we are not just transforming digitally we are revolutionising aluminium production. This advanced solution isn t just about our digital transformation it s rather the catalyst that propels Alba to the forefront of Industry 4.0. Embracing advanced computing and unlocking real-time data will not only optimise our operations but empower every facet of our business to innovate the future of aluminium production in line with Vision 2030. Additionally SAP Bahrain managing director Saquib Ahmad said: This new deployment represents a significant milestone in Alba s digital transformation journey and aims to further align its operations with Vision 2030 while enhancing services to customers and partners. By streamlining integrating and automating core business functions and processes Alba will be free to focus on innovating its core business and setting new industry standards. The new SAP S/4HANA Cloud is a complete modular and award-winning ERP software designed for the cloud offering scalable architecture real-time data processing integrated advanced analytics better optimisation for speed and performance as well as enhanced user experience for Alba users customers and suppliers. Alba s extensive partnership with SAP spanning more than 25 years is clearly evident in applying SAP solutions across the company s core functions like production maintenance sales procurement HR and more.

Alba one of the world s largest aluminium smelters has reported a profit of BD24.5 million ( 65m) for the first quarter of 2024 a drop of 48 per cent year-over-year (YoY) versus a profit of BD47.5m ( 126.2m) for the same period in 2023. The company reported basic and diluted earnings per share of 17 fils for Q1 2024 versus 34 fils for the same period in 2023. Total comprehensive income for Q1-2024 stood at BD27.7m versus BD37.1m for the same period in 2023 a drop of 25pc YoY. Gross profit for Q1-2024 was BD57.3m versus BD79.9m for the same period in 2023 down by 28pc YoY. With regards to the revenue from contracts with customers in Q1 2024 Alba generated BD334.6m versus BD369.9m in Q1 2023 a drop of 10pc YoY. Total equity as of March 31 2024 stood at BD1 794.9m up by 0.3pc versus BD1 789.2m as of December 31 2023. Alba s total assets as of end-March 2024 were BD2 575.5m versus BD2 553.6m as of end-2023 up by 0.9pc. Alba s top-line and bottom-line were driven by lower LME prices (down by 8pc YoY in Q1-2024) and lower premiums (down by 27pc YoY in Q1 2024). Commenting on the company s performance for the first quarter of 2024 Alba chairman Khalid Al Rumaihi stated: Despite market headwinds and lower LME prices our commitment to operational excellence yielded good results in Q1 2024. In fact if commodity prices (LME and premium prices) had remained at Q1 2023 levels we are confident we would have delivered an even stronger performance for this quarter. Such performance positions us as a frontrunner to capitalise on the upswing in LME prices driven by global aluminium demand boom. Furthermore our focus to strategic priorities equips us to navigate 2024 with agility capitalising on emerging opportunities. Alba chief executive Ali Al Baqali added: While the overall economic climate remains challenging we are laser-focused on the controllable aspects of our business: safety streamlined operations and a rigorously cost-effective structure. This focus coupled with the dedication of our entire team empowers us to thrive even in these challenging economic conditions.

Alba one of the world s largest aluminium smelters has taken a groundbreaking step towards a greener future with the launch of EternAl its low carbon aluminium product line with two initial variants: EternAl-30 and EternAl-15 with a 30 per cent and 15pc recycled content respectively. The EternAl product line marks a major milestone in the company s ESG Roadmap particularly its commitment to a Circular Economy and Secondary Aluminium while it also addresses the growing global demand for low carbon aluminium. Alba s commitment to responsible production is further emphasised by the independent verification of both EternAl products by DNV a globally recognised leader in verification assurance. This verification assures customers that EternAl significantly reduces emissions throughout the aluminium value chain. At Alba we re not just aligned with Bahrain s vision for a sustainable future we re actively taking part in it said chairman Khalid Al Rumaihi. Our commitment to achieving Net Zero by 2060 is a cornerstone of this vision. Our innovative EternAl-30 and EternAl-15 products incorporating 15pc and 30pc recycled scrap metal are not just about reducing our environmental footprint it s a significant leap forward for the entire aluminium industry. Our products not only meet the growing demand for sustainable solutions but empower our customers to be part of the change. Alba chief executive Ali Al Baqali said: This groundbreaking low-carbon aluminium product marks a major milestone in our journey towards a sustainable future not just for Alba but across the entire supply chain. By utilising up to 30pc recycled scrap metal we re not only minimising our environmental footprint but also empowering our partners and customers to make a significant contribution to achieving their own sustainability goals. This innovation paves the way for a more sustainable future in the aluminium industry one where every step of the supply chain can be part of the solution. With the roll-out of EternAl-30 and EternAl-15 products Alba looks forward to meeting the demands of its customers and enabling them to significantly reduce their carbon footprint by procuring more sustainable primary aluminium products.

Alba chief executive Ali Al Baqali celebrated the first class of the aluminium smelter s Top-Up BE in Mechanical Engineering (honours) Programme from the University of Huddersfield (UK) in the presence of senior Alba officials and faculty members. The 24 enrolled employees representing various departments showcased their final projects at an exhibition on the same day at Alba s Oasis Hall. On the occasion Mr Al Baqali commended the employees for the exceptional calibre of their final projects and expressed his anticipation to see how the knowledge gained from this programme will be implemented to propel Alba forward in line with its vision. The programme aligns with Alba s ongoing commitment to building and developing the capabilities of its national employees. The first batch of the programme was launched last October at the company s Training Workshops Building.

Alba one of the world s largest aluminium smelters has achieved the pinnacle of sustainability recognition the EcoVadis Platinum Rating. This prestigious distinction from EcoVadis a world-renowned provider of business sustainability assessments places the Bahrain-based company among the elite 1 per cent of companies evaluated worldwide. The remarkable accomplishment marks the culmination of Alba s unwavering commitment to environmental stewardship. Just three years ago Alba embarked on this journey with a Bronze Rating followed by a Silver Rating in 2023. This continuous improvement demonstrates a deep-rooted sustainability strategy driving positive change. We are incredibly honoured to receive the EcoVadis Platinum Rating said Alba chief executive Ali Al Baqali. This recognition serves as a powerful validation of our relentless pursuit of sustainable practices. Environmental and social impact are paramount to our growth strategy and we remain firm in our mission to be an eco-friendly smelter contributing to a greener Bahrain and a more sustainable world. Further to celebrate Alba s achievement EcoVadis will plant a tree through their partnership with One Tree Planted an environmental non-profit tree planting charity that plant trees in countries around the world. The EcoVadis sustainability rating is one of the world s largest and most trusted global corporate social responsibility performance assessment platforms providing ratings for companies based on their sustainable practices across four pillars: environment social and human rights ethics and responsible purchasing.

Alba one of the world s largest aluminium smelters has inked an agreement with SAP a market leader in enterprise application software to upgrade its enterprise resource planning solution (ERP) to SAP s latest software S/4HANA Cloud. With this move Alba will accelerate its digital transformation journey and Industry 4.0 adoption to adapt to ever-changing business needs. Alba chief executive Ali Al Baqali and SAP Middle East Africa-North senior vice-president Ahmed Al Faifi attended a signing ceremony held at Alba premises along-side senior officials from Alba and SAP. Mr Al Baqali commented: At Alba we are not just transforming digitally we are revolutionising aluminium production. This advanced solution isn t just about our digital transformation it s rather the catalyst that propels Alba to the forefront of Industry 4.0. Embracing advanced computing and unlocking real-time data will not only optimise our operations but empower every facet of our business to innovate the future of aluminium production in line with Vision 2030. Additionally SAP Bahrain managing director Saquib Ahmad said: This new deployment represents a significant milestone in Alba s digital transformation journey and aims to further align its operations with Vision 2030 while enhancing services to customers and partners. By streamlining integrating and automating core business functions and processes Alba will be free to focus on innovating its core business and setting new industry standards. The new SAP S/4HANA Cloud is a complete modular and award-winning ERP software designed for the cloud offering scalable architecture real-time data processing integrated advanced analytics better optimisation for speed and performance as well as enhanced user experience for Alba users customers and suppliers. Alba s extensive partnership with SAP spanning more than 25 years is clearly evident in applying SAP solutions across the company s core functions like production maintenance sales procurement HR and more.