Alba Reports Strong Profit Growth for Q4 and FY2024 on Higher Output and LME Prices

Aluminium Bahrain

Aluminium Bahrain Sets New Production Record and Boosts Value-Added Sales

Aluminium Bahrain (Alba) delivered strong financial results in both the fourth quarter and full year of 2024, supported by record aluminium production and higher London Metal Exchange (LME) prices.

Alba’s Q4 2024 profit rose 58.5% to BD37.1 million ($98 million) compared to the same period in 2023. Full-year profit climbed 56.4% to BD184.5 million, reflecting robust market conditions and operational stability.

Alba set a production record of 1.622 million tonnes in 2024, slightly up by 0.1% from the previous year. This came despite a minor fire in November at a power rectiformer supporting Reduction Line 1.

The output milestone follows the full optimisation of Reduction Line 6, which reached its 560,000 t/yr capacity in April 2023.

Value-Added Sales and Premiums Drive Earnings Momentum

Average LME aluminium prices were 7% higher year-on-year in 2024, with Q4 prices up 17%, helping to lift Alba’s top line. Meanwhile, spot aluminium delivery premiums surged to multi-year highs amid tight global supply and growing geopolitical risk.

Alba’s sales volumes rose by 1% to 1.61 million tonnes in 2024. 

Notably, value-added product (VAP) sales rose to 72% of total sales, compared to 68% in 2023, supporting stronger margins.

The company’s performance reflects a combination of operational excellence, strategic investments in capacity, and favorable pricing trends. As aluminium demand continues to rise globally, Alba is well positioned to capture premium market segments with its value-added offerings.