Aluminium Bahrain (Alba), the world's largest aluminium smelter at a single site, has delivered solid results for the first nine months with a 44.3% jump in its net profit which soared to BD158.7 million ($422 million) over last year’s figure of BD110 million ($286.5 million) despite regional geopolitical disruption that continued to affect aluminium supply chains and production.
Announcing its results for the nine-month period ended September 30, 2026, Alba said its earnings per share increased to 112 fils from 78 fils, while total comprehensive income climbed 51.8% to BD161.1 million.
Alba's total assets stood at BD2.88 billion at the end of September, up 9.8% from BD2.62 billion at the end of 2025. Total equity attributable to shareholders increased 4.8% to BD2.18 billion.
However, Alba's sales volume fell 33% year-on-year to 800,792 tonnes in the first nine months, while finished production declined 41% to 709,395 tonnes, mainly due to the controlled shutdown of Reduction Lines 1, 2 and 3 amid regional disruptions.
On its Q3 results, Alba said there was a 72.5% year-on-year decline in its net profit which fell to BD18.5 million ($49.3 million), compared with BD67.3 million in the same period last year.
The company reported earnings per share of 13 fils for the quarter, down from 48 fils a year earlier. Total comprehensive income attributable to shareholders fell 69.6% to BD20.5 million, it stated.
The total comprehensive income attributable to equity holders of Alba for the third quarter of 2025 stood at BD67.5 million ($179.4 million) – down by 69.6% YoY.
The value-added products accounted for 67% of total shipments, with sales reaching 532,591 tonnes, down 41% from the same period last year, it added.
Aluminium market fundamentals remain supportive
Global economic conditions remained mixed in the third quarter of 2026, with uneven industrial activity across regions and continued uncertainty over trade, energy and monetary policy, said Alba in its statement.
Regional geopolitical disruptions continued to affect aluminium supply chains and production, although the gradual restart of curtailed capacity in the Middle East supported a recovery in supply, it stated.
Commenting on the nine-month performance, Khalid Al Rumaihi, the Chairman of Alba’s Board of Directors, said: “Alba’s performance through the first nine months of 2026 reflects the resilience of its business model and the discipline with which the Company has navigated an exceptional operating environment. While regional developments have affected production and logistics, supportive aluminium fundamentals and our good financial position have provided resilience.”
“The acquisition of Aluminium Dunkerque continues to progress through the regulatory approval process. This strategic acquisition represents an important step in Alba’s growth journey, and we remain confident in its long-term strategic rationale and value-creation potential for our shareholders and stakeholders. We remain focused on progressing the transaction towards completion, subject to the remaining regulatory approval,” he added.
Automotive, solar, renewables drive demand
Global aluminium demand grew by about 1% year-on-year, supported by the automotive, solar, renewable energy and power transmission sectors. Demand in China increased by about 4%, while construction-related weakness weighed on consumption in Europe and the US, where demand fell by around 1% and 8%, respectively.
According to Alba, the global aluminium market remained in deficit by about 485,000 tonnes, while the market outside China recorded a deficit of around 108,000 tonnes.
“Q3 was about disciplined execution and recovery. Safety remained at the heart of our operations, with Alba surpassing 51 million safe working hours without an LTI and completing its 10th consecutive summer free from heat-related injuries and illnesses,” remarked its CEO Ali Al Baqali.
“These milestones reflect the strength of our safety culture and the commitment of our people. Our immediate priority remains the safe full ramp-up of Reduction Line 4, while protecting smelter stability, asset integrity and supply-chain resilience,” he added.-TradeArabia News Service