Alba Achieves Record Profits and Output in 2024 on Rising Aluminium Prices

Alba

Fourth Quarter Profit Soars 58.5% as LME Prices and Premiums Strengthen

Value-Added Product Sales Boost Bottom Line Despite Operational Setback

Aluminium Bahrain (Alba) reported robust financial results for 2024, posting record fourth-quarter and full-year profits on the back of historic output and favorable market conditions. Alba’s net profit for Q4 2024 surged 58.5% year-on-year to 37.1 million Bahraini dinar ($98 million). For the full year, net profit reached BD184.5 million, marking a 56.4% increase compared to 2023.

Production Record Set Amid Industrial Challenge

Alba achieved a production record of 1.622 million tonnes of aluminium in 2024, despite a minor industrial fire in November affecting its reduction line 1. The strong output follows the optimization of reduction line 6, which reached its full capacity of 560,000 t/year in April 2023. Notably, Alba’s operational resilience enabled it to maintain growth even in the face of disruptions.

Market Forces Drive Revenue Growth

The company benefited from a 7% increase in average LME aluminium prices in 2024, and a 17% spike during the fourth quarter. Spot aluminium delivery premiums hit multi-year highs, reflecting tight supply and heightened geopolitical risks. Sales volumes edged up 1% to 1.61 million tonnes, while value-added products made up 72% of total sales, up from 68% in 2023—further enhancing profitability.

Alba’s strategic focus on capacity optimization and value-added products has strengthened its market position, allowing it to capitalize on price surges and changing global dynamics. This success story highlights the resilience and adaptability required to thrive in the modern aluminium industry.