News Column

Alba 2013 sales up

February 13, 2014



Aluminium Bahrain's (Alba) sales reached $1.993 billion in 2013 (BD749.3m) versus $1.978bn (BD743.7m) in 2012, according to the full-year and fourth quarter results of 2013 released during a meeting of the company's board of directors yesterday. Sales were up by 3.3 per cent year-on-year to 919,722 metric tonnes (mt), while production rose by 2.5pc YoY to reach 912,700mt. As for the fourth quarter of 2013, Alba's sales totalled $488m (BD183.4m) versus $502m (BD188.8m) in Q4 2012, down by 3pc on the back of lower LME prices. The company posted a net income for 2013 of $212m (BD79.8m) compared to $257m (BD96.6m) in 2012. The drop in net was primarily driven by the $85m (BD32m) one-time gain from the Alcoa settlement recorded in the fourth quarter of 2012 and lower LME prices. Net income for the fourth quarter of 2013 stood at $36m (BD13.7m), a drop of 74pc from $140m (BD52.6m) driven by the one-time gain from the Alcoa settlement recorded in 2012. The total dividend proposed for fiscal year 2013 is $135m (BD50.7m) versus 2012 total dividend of $105m (BD39.5m). The board recommended a final 2013 dividend of $82m (BD30.9m) in addition to the interim dividend already paid in September 2013 of $53m (BD19.8m).

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Source: Daily Tribune (Bahrain)


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