REG - Aluminium Bahrain - Annual Financial Report

Aluminium Bahrain BSCAnnouncement

17/02/2026 17:00

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RNS Number : 3890T  Aluminium Bahrain B.S.C.  17 February 2026

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Media Release - Tuesday 17 February 2026

 

Alba Discloses its Financial Results for the Fourth Quarter and 12 Months of
2025

Q4 & Full-Year 2025 Financial Performance

Manama, Bahrain - [17 February 2026]: Aluminium Bahrain B.S.C. (Alba) (Ticker
Code: ALBH), the world's largest aluminium smelter on one site, has reported a
Profit of BD108.7 million (US$289.2 million) for Q4 2025, up by 193.4% YoY
versus a Profit of BD37.1 million (US$98.6 million) for the same period in
2024. The Company reported Basic and Diluted Earnings per Share of fils 76 for
Q4 2025 versus Basic and Diluted Earnings per Share of fils 26 for the same
period in 2024. The Total Comprehensive Income for Q4 2025 stood at BD107
million (US$284.7 million) versus a Total Comprehensive Income for Q4 2024 at
BD38.1 million (US$101.3 million), up by 181% YoY.

 

For the Full-Year of 2025, Alba has reported a Profit of BD218.7 million
(US$581.6 million), up by 18.5% YoY, versus a Profit of BD184.5 million
(US$490.8 million) for 2024. Alba reported Basic and Diluted Earnings per
Share of fils 154 versus Basic and Diluted Earnings per Share of fils 130 in
2024. Alba's Total Comprehensive Income for 2025 was BD213.2 million (US$567
million), up by 16.2% YoY, compared to a Total Comprehensive Income of BD183.4
million (US$487.8 million) in 2024.

 

Total Equity as of 31 December 2025 stood at BD2,085.6 million (US$5,546.8
million), up by 8.4% YoY, versus BD1,923.9 million (US$5,116.9 million) as of
31 December 2024. Alba's Total Assets as of 31 December 2025 were BD2,623.3
million (US$6,976.8 million) versus BD2,673.4 million (US$7,110 million) as of
31 December 2024, down by 1.9%.

 

The Board of Directors of Aluminium Bahrain B.S.C. (Alba) resolved during the
Board meeting on Tuesday 17 February 2026, to recommend the distribution of
cash dividend to the shareholders whose names are registered on the Company's
register on the Record Date. The final cash dividend is 43.51% of the share
nominal value, equivalent to Fils 43.51 per share corresponding to
BD61,612,237 (US$163,862,332).

 

Market Fundamentals [Based on Market Intelligence]

Aluminium Market Dynamics: Demand & Supply (For more insights, refer to
Alba's Investor Relations Presentation]

 

§ Global Economy showed resilience in 2025 while inflation trends stabilised,
creating a supportive backdrop for commodities.

§ US tariffs significantly lifted domestic aluminium prices, tightened local
supply, and pressured downstream margins, while resulting in only limited
short-term increases in domestic production.

§ Demand remained stable (+2% YoY), supported by the packaging, automotive,
and electrical sectors. With the exception of from North America (‑3% YoY),
most regions recorded mild consumption gains.

§ On the Supply side, global aluminium output rose by just 2% YoY,
constrained by structural capacity limits in China and slower-than-expected
recovery in other regions. Canadian production declined by 1% YoY, reflecting
tariff-driven export adjustments.

§ Market Balance: As Chinese production is growing at a slower pace than
consumption (while remaining capped at 45 million tonnes annually), the global
market is showing a surplus of 118kMT including China and 229kMT excluding
China.

 

Aluminium Market Prices, Inventories & Premium

§ LME Price averaged US$2,630/t in 2025 (+9% YoY). Prices remained volatile,
with Q4 fluctuating between a low of US$2,683.5/t and a high of US$2,968/t,
supported by solid market fundamentals, fund inflows, and ongoing supply
constraints.

§ Regional Premiums remained firm. The US Midwest premium continued its
upward trend, driven by reduced imports and ongoing destocking. European
premiums increased on the back of stronger end‑user confidence and
pre‑CBAM purchasing activity. In contrast, the MJP premium softened due to
localised oversupply pressuring regional sentiment.

§ Inventories declined 20% YoY to 509,000 MT. A significant portion of stocks
remained of Russian origin, reducing effective availability for Western
consumers due to sanctions and trade restrictions.

 

 2025 Operational Highlights

§ Sales volume reached 1,613,360 MT (+0.11% YoY) despite market challenges.
Net Finished Production was up by 0.05% YoY to reach 1,623,139 MT, reflecting
continuous operational efficiency.

§ Value Added Sales (VAP) averaged 74% of total shipments, up by 2 percentage
points YoY. VAP Sales' volume reached 1,195,788 MT (+3.3%YoY).

§ Strategic Initiatives

o  Achieved US$67.32 million in e-Al Hassalah savings powered by Lean Six
Sigma & AI initiatives and exceeding 2025 Target of US$60 million.

o  Expanded partnership with Array Innovation to integrate advanced data
modelling & AI.

o  Signed tri‑partite MoU with Shandong Innovation Group & Blue Five
Capital for joint investments and knowledge sharing.

Favorable Market Dynamics Reinforce Aluminium's Upward Outlook [Based on
Market Intelligence]

§ Aluminium prices have reached multi‑year highs, supported by the Mozal
smelter closure and elevated copper markets. While a slight moderation is
expected later in 2026, prices are projected to remain strong in the
US$2,650-2,750/t range.

§ Global consumption will continue to grow, driven by structural deficits in
North America and Europe, with China seeing new momentum from growing
battery‑storage applications.

§ Supply disruptions are expected to persist through 2026, offsetting planned
capacity additions in Asia. In China, smelter capacity remains close to the
national ceiling, limiting further production growth.

 

Alba 2026 Priorities

§ In alignment with Bahrain's 2060 Net-Zero Vision, Alba continues to embed
sustainability across its value chain from raw material sourcing to product
delivery to minimise environmental impact.

§ The Company aims to surpass its 2025 Net Finished Production record of
1,623,139 MT and exceed the e‑Al Hassalah 2026 target of US$150 million.

§ Alba is leveraging industry-leading certifications, including ASI,
EcoVadis, and Low-Carbon Aluminium EternAl™ portfolio, to access new markets
and accelerate value-added sales growth.

§ The Company is advancing circularity through the construction of Alba Daiki
Sustainable Solutions for aluminium dross processing, scheduled for completion
by September 2026.

§ Alba is progressing Class 3 Feasibility Study and Bankable Feasibility
Study for the New Replacement Line (NRL).

Commenting on the Company's performance for the fourth quarter of 2025, the
Chairman of Alba's Board of Directors, Khalid Al Rumaihi stated: "The highest
quarterly profit in Alba's history, achieved in Q4 2025, reflects our strong
dedication to performance and value creation. With strong LME prices and
disciplined operational delivery, we've set a new profitability record that
speaks to our resilience and strategic clarity.

This exceptional outcome has enabled us not only to accelerate the servicing
of our outstanding loans but also to confidently recommend a higher final
dividend tranche for our shareholders."

Alba's Chief Executive Officer, Ali Al Baqali, added: "Our record
fourth‑quarter performance in 2025 is a reflection of the discipline,
resilience, and operational strength that define Alba. Beyond the exceptional
financial results, what makes this achievement meaningful is the way we
delivered it - safely, responsibly, and with a steadfast commitment to
continuous improvement.

I also want to take this opportunity to thank all Alba employees and
contractor personnel for achieving 44 million safe working hours without LTI.
This milestone is a testament to your dedication and safety-first mindset."

Alba Management will hold a conference call on Wednesday 18 February 2026 at
1PM Bahrain Time to discuss the Company's financial and operational
performance for Q4 & FY 2025 and outline its strategic priorities moving
forward.

ENDS

 

Photo Caption

Group Photo

 

About Aluminium Bahrain B.S.C. (Alba)

[Ticker: ALBH]

 

A Global Aluminium Leader: At plus-1.623 million metric tonnes per annum
(mtpa) (2025), Alba is a world-leading aluminium smelter with a proud 50-year
legacy in operational excellence, safety, environmental responsibility, and
community development.

Trusted Partner: A cornerstone of the Bahrain's economy, Alba produces
high-quality aluminium, including standard and value-added products, which are
exported to over 280 customers globally. With sales' offices in Europe
(Zurich), Asia (Singapore), and a subsidiary in the U.S., Alba is a reliable
partner on the world stage. Alba is dually listed on Bahrain Bourse and London
Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company
B.S.C. © (69.38%), Saudi Arabian Mining Company (Ma'aden) (20.62%) and
General Public (10%). Alba prioritises the highest quality standards,
reflected in its certifications: ISO 9001 (quality), ISO 14001 (environment),
ISO 27001 (information security), ISO 45001 (occupational health and safety),
and ISO 18788 (security operations management). Additionally, Alba
demonstrates its commitment to responsible manufacturing through
certifications like IATF 16949 (automotive quality), ISO 22301 (business
continuity management), ASI Performance and Chain of Custody Standards, and a
top 1% Platinum sustainability rating from EcoVadis.

 

Pioneering Sustainability: As the first aluminium smelter in the Middle East,
Alba is central to Bahrain's thriving downstream aluminium sector,
contributing significantly to the Kingdom's GDP. Committed to social
responsibility, Alba employs a workforce that is 87% Bahrainis (2024) and
invests heavily in employee training and development. Alba also plays a
crucial role in the Aluminium Downstream Park, therefore increasing the
contribution of non-oil sectors to the GDP of Bahrain. Alba has been
recognised for its initiatives to produce Aluminium responsibly through awards
such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from
Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom.
Recognised for its environmental practices, social contributions, and
corporate governance, Alba launched a comprehensive ESG Roadmap in 2022
focusing on 6 priority areas: (1) Decarbonisation, (2) Green Energy &
Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee
Welfare, (5) Collaboration & Partnership and (6) Transparency,
Communications & Due Diligence. Since its inception, Alba has invested
into numerous environment, sustainable and socio-economic development projects
that have had a positive impact on the society. Alba's first-of-its-kind
US$37.5 million zero-waste Spent Pot Lining Treatment Plant, Power Station 5
Block 4 Project, and the upcoming +6 MW Solar Farm Project are tangible
initiatives aligned with Bahrain's Net Zero Carbon Targets by 2060 led by HRH
the Crown Prince and Prime Minister of Bahrain. Specifically, Alba's PS5 Block
4 is a new 680.9-megawatt (MW) combined-cycle power plant that expands the
existing PS5 facility. Block 4 has increased the nameplate capacity of PS5
Complex from 1,800 MW to 2,481 MW and is reducing the Company's overall GHG
emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium
produced.

 

In a significant step towards its ESG goals, particularly its commitment to a
circular economy and secondary aluminium, Alba introduced EternAl(TM), its new
line of low-carbon aluminium products. Launched in May 2024, EternAl offers
two product series with multiple variations to meet diverse customer needs:
one featuring recycled content, and the other integrating verified in-house
carbon offsets.

 

Safety First, Always: Guided by the motto "Safety First, Safety Always," Alba
prioritises the well-being of its employees and contractors. The Company
achieved a record-breaking 44 million safe working hours without a lost-time
injury in February 2026. The Company has been recognised internationally for
its excellent Safety and Health track record with awards such as the RoSPA's
Lifetime President and President Awards (10+ Gold Medal Awards), the British
Safety Council's International Safety Award with Merit along with 5-Star Audit
Rating, as well as numerous awards from the National Safety Council (NSC).

 

Alba Stakeholder Engagement Plan

Alba prioritises open communication with all its stakeholders, including the
community, environmental and social groups. Through its Stakeholder Engagement
Plan, the Company proactively addresses environmental and social impacts of
its operations, outlining clear mitigation controls. Alba also maintains an
external Grievance Mechanism accessible through the Code of Conduct, allowing
stakeholders and the public to voice concerns and raise issues.

Scan the above to Alba's Stakeholder Engagement Plan

 

Alba's External Grievance Mechanism

Alba prioritises ethical conduct and environmental responsibility.
Stakeholders, employees, contractors, and the community can confidentially
report any potential breaches of Alba's Code of Conduct or raise concerns
about environmental and social impacts through the Alba Integrity Line
(https://www.albasmelter.com/en/category/code-of-conduct) . This independent,
multilingual hotline operates 24/7 and is accessible via a toll-free phone
number, the company intranet, or the website at www.albasmelter.com
(https://www.albasmelter.com) .

Scan the above to Alba's Code of Conduct

 

For further details, please contact:

Eline Hilal

Director Investor Relations & Insurance

Tel:          (973) 1783 5100

E-mail:    eline.hilal@alba.com.bh (mailto:eline.hilal@alba.com.bh)

Website: www.albasmelter.com (https://www.albasmelter.com)

 

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