Alba Reports 2012 Results

Alba's sales for the full-year of 2012 were US$ 1,978 million, a decline of 16% on the back of low LME prices versus US$ 2,349 million in 2011. The company has registered a Net Income for 2012 of US$ 257 million vs. US$ 564 million in 2011 which is a drop of 54% YoY driven by lower LME prices and higher energy costs.

In 2012, the actual cash delivered to the shareholders was US$ 203 million vs. 267 million in 2011. The Board recommended an additional dividend of US$ 52 million bringing the total dividend for 2012 to US$ 105 million.

2013 Alba Priorities:
• Accelerate AlbaSafeWay programme
• Leverage high physical premiums in 2013 new contracts as well as maintain a sustained focus on Value-Added products
• Complete the refinancing of US$ 169 million local bond facility in March 2013
• Finalise long-term contract to secure gas and power as well gear-up for Pot Line 6 expansion project

Alba released its full year and fourth quarter 2012 results during a meeting of the company's Board of Directors on Wednesday, February 13, 2013.

Commenting on the full-year results, Alba's Chief Executive, Tim Murray said:

"Despite tough LME market conditions, Alba's resilient business model has enabled the company to achieve a healthy financial performance in 2012 thanks to the sustained focus on Operational Excellence and the support of our dedicated workforce.

As the Aluminium industry outlook looks positive, Alba is well-positioned to embark on 2013 thanks to the milestones achieved in 2012 which will lay the foundations for a better overall performance."

The Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji added:

"Alba turned in yet another record-breaking year, with production reaching 890,217 metric tonnes in 2012. Amid the downtrend in LME prices, the company was still able to sustain its healthy performance - a testament on our ability to execute against strategy thanks to the leadership of our Executive Management Team and the support showed by Alba's workforce.

Furthermore, distributing a cash dividend of US$ 105 million for 2012 - 28 Fils per share - endorses the company's strong business fundamentals which continuously deliver value to its shareholders."

Alba's Chief Executive Officer, Tim Murray, Acting Chief Finance & Supply Officer, Ali Al Baqali and Investor Relations Manager, Eline Hilal will be holding a series of meetings with investors in Bahrain, London and New York City. They will be making a presentation on the Full Year and Fourth Quarter Results, discuss Alba's performance for 2012 as well as outline the company's priorities and plans for 2013.