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Aluminium Bahrain production up by 2%
Edited by : AL CIRCLE
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Aluminium Bahrain increased production by 2% in the first quarter with sales remaining stable despite a slowdown in Europe.
But it said earnings before interest, tax, depreciation and amortisation as well as net income at US$115m and US$57m respectively were affected by lower LME levels and higher gas costs.
Chief executive Laurent Schmitt said: "Without LME effect, Alba was able to maintain its performance despite the significant impact of gas price increase.
"The overall financial performance was underpinned by a major focus on our 'continuous improvement programme' and 'operational efficiency initiatives.
"These measures enabled the company to maintain a momentum despite the downward trend of aluminium prices."
But it said earnings before interest, tax, depreciation and amortisation as well as net income at US$115m and US$57m respectively were affected by lower LME levels and higher gas costs.
Chief executive Laurent Schmitt said: "Without LME effect, Alba was able to maintain its performance despite the significant impact of gas price increase.
"The overall financial performance was underpinned by a major focus on our 'continuous improvement programme' and 'operational efficiency initiatives.
"These measures enabled the company to maintain a momentum despite the downward trend of aluminium prices."
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