Alba sales and production figures increase in Q3 2015

Aluminium Bahrain said its third-quarter output rose 2.9 percent despite significant drops in London Metal Exchange prices. Sales figures reached 238,862 metric tonnes (mt), an increase of 5,940 (mt), versus 232,922 mt in Q3 2014 while production figures jumped by 2.9% year-on-year (YoY) to top 240,351 mt for the same period in 2014.

For the nine months of 2015, Alba’s sales figures stretched to 699,362 (mt), up from 689,203 (mt) in the same period of 2014; while production figures increased by 19,521 mt to reach 717,029 mt year-to-date.

In addition, Alba closed the third quarter of 2015 with its Value-Added Sales averaging 64% of total shipments versus 67% for the same period in 2014. Value-Added Sales for the nine months of 2015 averaged 65% of total shipments versus 66% for the same period in 2014.

Commenting on Alba’s sales and production figures for Q3 2015, Alba’s Chief Executive Officer, Tim Murray said: “Despite the collapse of all-in-aluminium prices, Alba continues to perform and deliver results in its key areas of Safety and Production. We will continue to push the limit on our cost initiatives and accelerate our efforts to remain cost competitive.”

In June, Alba won government approval for a planned $3.5 billion expansion that will boost its output by more than 50 percent. Aluminium Bahrain B.S.C (Alba) will release its third quarter 2015 financial results to the public on November 11, 2015.