Alba posts resilient Q3 gains as nine-month profits face market headwinds

Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter on one site, has posted a strong financial performance for Q3 2025, safely navigating demand constraints and tariff tensions. Sales volume down yet profit up - this underscores a favourable price mix for Alba. What else has supported Alba’s Q3 fiscal? Here’s the performance analysis. 

Stable quarter backed up the aluminium price rally

During Q3 2025, which ended September 30, Alba earned a revenue of BD 449.4 million (USD 1,195.3 million), which reflected a Y-o-Y surge of 3.7 per cent from BD 433.5 million (USD 1,152.8 million) in Q3 2024. Along with revenue growth, Alba also experienced an increased profit of BD 67.3 million (USD 179 million), up by 23 per cent from BD 54.5 million (USD 145 million) a year ago. 

The company’s Total Comprehensive Income stood at BD 67.5 million (USD 179.4 million), up by 32 per cent from BD 51 million (USD 135.6 million) in Q3 2024. The Basic and Diluted Earnings per Share also grew Q-o-Q from fils 39 to fils 48. 

Khalid Al Rumaihi, the Chairman of Alba’s Board of Directors, stated, "Alba’s Q3 performance, 23% year-on-year profit growth, underscores our resilience and disciplined execution. We are not only delivering strong financial performance but also embedding sustainability across our operations, aligned with Bahrain’s 2060 Net-Zero Vision. Our priority is future-proofing Alba through capacity expansion, circularity, and innovation to ensure long-term value for our shareholders and stakeholders."

Alba’s strong fiscal output while sales were down could be attributed to aluminium price rally on the London Metal Exchange. By the end of September 30, 2025, the LME aluminium price had reached USD 2,668.50 per tonne. 

Also read: Alba forges global aluminium alliance with SIG and BlueFive to expand beyond Bahrain

Sales volume reached 413,636 tonnes in Q3 2025, down by 4 per cent Y-o-Y, reflecting a softer market demand. Value Added Sales (VAP) averaged 77 per cent of total shipments, up by 2 percentage points Y-o-Y, amounting to 317,996 tonnes in Q3 '25 vs. 311,263 tonnes in Q3’24.

Sluggish nine months amid strong Q3

Alba’s revenue earned in the first nine months of the year reached BD 1,292.4 million (USD 3,437.3 million), up from BD 1,175 million (USD 3,125 million) during the corresponding period of 2024. However, profits declined by 25 per cent to BD 110 million (USD 292.4 million) versus BD 147.5 million (USD 392.2 million) a year earlier.

Basic and Diluted Earnings per Share also dropped over the year from fils fils 104 to fils 78. Moreover, the Total Comprehensive Income was BD 106 million (USD 282.2 million), down by 27 per cent from 2024, which recorded BD 145.3 million (USD 386.5 million). 

Explore- Most accurate data to drive business decisions with 50+ reports across the value chain

Ali Al Baqali, Alba’s Chief Executive Officer, stated, "While market headwinds impacted nine-month profit, our revenue growth and progress on e-Al Hassalah savings reflect our ability to adapt and thrive. Beyond financials, achieving 41 million safe working hours and earning a 5-Star rating from the British Safety Council underlines our commitment to safety and people - the true drivers of our performance."

Alba's current priorities 

The firm is currently tapping into global certifications like ASI, EcoVadis and Low-Carbon Aluminium EternAl™ to probe into new markets and boost its sales growth rate. 

The company is working on the Alba Daiki Sustainable Solutions project as part of its circularity commitment to process aluminium dross. This project is expected to finish in the first nine months of 2026. 

Apart from these, the firm is advancing by undertaking the Class 3 Feasibility Study for the New Replacement Line (NRL). This is being undertaken after the Board's approval to work on the Bankable Feasibility Study scheduled on November 11, 2025. 

A conference call by the firm's management is scheduled to take place on Wednesday, November 12, 2025, at 3 PM Bahrain Time. In this call, a review of the firm's operational and financial performance for Q3 2025 will take place alongside setting priorities for the upcoming period.

Must read: Key industry individuals share their thoughts on the trending topics