
Alba announced its financial results for the third quarter and nine months of 2018. Alba said its top-line and bottom-line for Q3 and nine months of 2018 were primarily driven by higher metal sales’ volume and partially offset by higher alumina prices.
For the Third quarter of 2018, Alba reported a net income of BD 14.3 million (US$ 38 million), down 44% YoY on higher alumina prices, compared to BD 25.8 million (US$ 68.5 million) in Q3 2017. Total sales/revenues decreased to BD 234.6 million (US$ 623.8 million) versus BD 235.3 million (US$ 625.8 million) in Q3 2017.
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For the nine months of 2018, the company’s net income stood at BD 77.3 million (US$ 205.6 million up 12% YoY, compared to BD 69 million (US$ 183.5 million) in nine months in 2017.Total Sales/Revenues rose 16% YoY to reach BD 699.8 million (US$ 1,861.2 million), compared to BD 605 million (US$ 1,609.1 million) in Q3 2017.
Q3 2018 Alba Highlights:
The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “Despite higher Alumina prices, Alba managed to deliver sound financial performance. As we progress with Line 6 Expansion Project, we look forward for the First Hot Metal by January 01, 2019 and safe start-up of Line 6.
Q3 2018 Industry Highlights:
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