Aluminium Bahrain has reported a Loss of USD 31 million for the third quarter of 2020, down by 209% YoY versus a Profit of USD 28.4 million for the same period in 2019. With regards to the nine-months of 2020, Alba has reported a Loss of USD 59.2 million down by 164% YoY, versus a Loss of USD 22.4 million for the same period in 2019.

With regards to the Revenue from Contracts with Customers in the third quarter of 2020, Alba generated USD 698.6 million versus USD 763.6 million in Q3 2019, down by 8.5% YoY. For the Nine-Months of 2020, Total Revenue from Contracts with Customers reached USD 2,081.5 million, up by 6% YoY, compared to USD 1,956.7 million) for the same period in 2019.

Alba’s top-line was driven in the third quarter of 2020 by higher metal Sales’ volume thanks to Line 6 and partially offset by lower LME price while the bottom-line was impacted by higher depreciation, financial charges and foreign exchange losses.

Q3 2020 Alba Highlights
Alba hosts virtual ‘Market Update’ sessions for its customers in partnership with CRU
Alba, a recipient of 2 major awards from Middle East Investor Relations Association
MoU inked between Alba and University of Bahrain to enhance scientific and research cooperation.
Sales volume topped 393,177 tonnes up by 5% YoY while Production reached 385,638 tonnes, almost flat
Value-Added Sales averaged 48% of total shipments
Spent Pot Lining Plant overall progress exceeded 40%.

Q3 2020 Industry Highlights
COVID-19 outbreak continues to take its toll on Aluminium demand in major markets World ex-China has seen a decline in Aluminium consumption [a drop of 12% YoY].

Challenges relating to pandemic, impact of failure in Brexit negotiations, US elections and US-China trade war continue to weigh on business sentiment in Europe leading to a contraction in Aluminium demand of 13% YoY.

Recovery in Aluminium demand gathers pace in China with 3% YoY increase thanks to the government’s stimulus packages [rebound in construction and auto sectors]

Global Production witnessed a modest growth of 2% YoY.

Primary Aluminium production in MENA down by 3% YoY