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08 JULY 2019 AL CIRCLE

Alba reports 25% sales growth in Q2 2019; aluminium production jumps 21% YoY to reach 305,727 tonnes

EDITED BY : BEETHIKA BISWAS 2MINS READ

Aluminium Bahrain (Alba) reported a double digit increase in overall sales’ volume in Q2 2019 despite trade-tensions and the downward LME price graph. Alba, which is on the course to become the largest smelter in the world with the full ramp-up of Line 6 on 31 July 2019, has been steadily reporting growth in production and sales.

Alba’s sales volume increased 25% YoY to stand at 311,928 tonnes from 249,595 tonnes in Q2 2018. Year-over-Year aluminium production jumped 21% YoY to 305,727 tonnes from 252,081 tonnes in Q2 2018.  Value-Added (VA) Sales averaged at 52% of total shipments in comparison with 60% for the same period in 2018.

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ALBA

Commenting on Alba Sales’ volume and Production for Q2 2019, Alba’s Chief Executive Officer, Tim Murray said: “Driven by the solid progress on the Line 6 ramp-up, Alba closed the second quarter with double-digit volume increase in both Sales and Production.”

“We are targeting Line 6 complete ramp-up by 31 July 2019 which will position Alba for a strong 2nd half-finish despite the tough aluminium market conditions,” he added.

leaderspeak

After the end of Q2, aluminium production for H1 2019 reached 578,434 tonnes in comparison with 511,480 tonnes in H1 2018, up by 13% YoY. Sales volume for H1 increased 14% to top 569,042 tonnes in comparison with H1 2018.

The Second Quarter 2019 Financial Results would be released to the public on 28 July 2019.  


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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