ALBAhttp://www.aluminiumbahrain.com©2011 ALBAALBA News Feedssomeone@alba.com.bhsomeone@alba.com.bhAlba Discloses its Financial Results for the Second Quarter and H1 of 2021http://www.albasmelter.com/mc/News/Pages/2011/Alba-Discloses-its-Financial-Results-for-the-Q2-and-H1-2021.aspx<!​​<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210801.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <b>Q2 &amp; H1 2021 Financial Performance:</b> <br /><br /> Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), the world’s largest aluminium smelter w/o China, has reported a Profit of BD92.6 million (US$246.2 million) for the second quarter of 2021, up by 665% Year-over-Year (YoY), versus a Loss of BD16.4 million (US$43.6 million) for the same period in 2020. The Company reported Basic and Diluted Earnings per Share of fils 65 for Q2 2021 versus Basic and Diluted Loss per Share of fils 12 for the same period in 2020. The Total Comprehensive Income for Q2 2021 stood at BD90.6 million (US$241.1 million) versus Total Comprehensive Loss for the second quarter of 2020 of BD18.2 million (US$48.4 million) – up by 598% YoY. Gross Profit for Q2 2021 was BD123.7 million (US$328.9 million) versus BD21.6 million (US$57.6 million) for the same period in 2020 – up by 471% YoY. With regards to the Revenue in Q2 2021, Alba generated BD370 million (US$984 million) versus BD244 million (US$649.1 million) in Q2 2020 - up by 52% YoY. <br /><br /> For the First Half of 2021, Alba has reported a Profit of BD144.8 million (US$385 million), up by 1,461% YoY versus a Loss of BD10.6 million (US$28.3 million) for the same period in 2020. The Company reported Basic and Diluted Earnings per Share of fils 102 for first half of 2021versus Basic and Diluted Loss per Share of fils 8 for the same period in 2020. Alba’s Total Comprehensive Income for H1 2021 was BD149.1 million (US$396.5 million), up by 852% YoY, compared to a Total Comprehensive Loss of BD19.8 million (US$52.7 million) in H1 2020. Gross Profit for the First Half of 2021 was BD204.2 million (US$543 million) versus BD55.2 million (US$146.8 million) in H1 2020 – up by 270% YoY. Alba generated in H1 2021 Revenue of BD672.7 million (US$1,789 million) versus BD520 million (US$1,383 million) in H1 2020 - up by 29% YoY. <br /><br /> Total Equity as at 30 June 2021 stood at BD1,230.1 million (US$3,271.4 million), up by 14%, versus BD1,079.6 million (US$2,871.1 million) as at 31 December 2020. Alba’s Total Assets as at 30 June 2021 were BD2,496.1 million (US$6,638.6 million) versus BD2,353.7 million (US$6,259.8 million) as at 31 December 2020 - up by 6%. <br /><br /> Alba’s top-line were driven in by higher LME prices (61% YoY in Q2 2021 and 41% YoY in H1 2021) and partially offset by lower Sales’ volume (a drop of 1% YoY in Q2 2021 and 3% YoY in H1 2021) while the bottom-line for Q2 and H1 2021 was driven by higher top-line and partially impacted by higher Selling and Distribution Expenses. <br /><br /> <b>Industry Highlights</b> <br /><br /> <b>Consumption: Strong Rebound for Global Demand Underpinned by V-Shape Economic Recovery (+12% YoY)</b> <br /> <ul> <li> Stimulus packages by Governments across the globe [US$1.2 trillion in US over 8-year period to revive infrastructure and transition to a greener economy; €750 billion recovery program launched by EU] translated in strong metal consumption in key markets. </li> <li> Strong come-back for Aluminium consumption in North America (+49% YoY) with manufacturing activity reaching an all-time high. </li> <li> Rebound in World ex-China consumption (+33% YoY) and Europe’s +29% YoY owing to strong market recovery. </li> <li> Middle East demand up by 17% YoY, a double-digit increase, owing to higher demand in UAE. </li> <li> Chinese market is no longer the bullish driver it used to be with Chinese authorities urging SHFE futures exchange to avoid excessive speculation. Chinese consumption almost flat (+1% YoY). </li> </ul> <br /> <b>Production: Higher Metal Demand Accelerate Supply Growth (+7% YoY)</b> <br /> <ul> <li> An all-high record smelting margins enhanced higher capacity utilization rates as smelters are back to normal production after COVID-19. </li> <li> Strong come-back for SHFE price (highest level in 13 years) has boosted Chinese production with +9% YoY. </li> <li> North America supply down by 5,000 MT (1,032 Kt in 2Q20 vs. 1,027 Kt in 2Q21) owing to the gradual closure of Alcoa’s Ferndale smelter. </li> <li> Primary supply in GCC almost flat owing to 2% YoY supply cuts in UAE. </li> <li> LME inventories at ~1.597 million MT as of 30 June 2021 (down by 16% YoY) and LME-cash averaged US$2,399/MT (61% YoY) in Q2 2021. </li> </ul> <br /> <b>Alba Safety Highlights</b> <br /> <ul> <li> Plant Safety: 2 Safety Campaigns were launched: ‘The Right Choice’ on 05 Apr’21 and first ESG Campaign ‘Achieving the Balance’ by mid-June 2021. </li> <li> &gt; 99% of Alba employees vaccinated. </li> <li> To ensure its People’s Safety, random rapid tests were carried-out on a daily basis at the Company’s gates to Alba employees and contractors’ personnel; only vaccinated guests were allowed on Alba premises. </li> <li> Recipient of the Royal Society for the Prevention of Accidents Gold Award for 8th consecutive year in a row. </li> <li> Recipient of ISO 22301:2012 certification for Business Continuity Management System (BCMS). </li> <li> Alba achieved 13 million safe working-hours w/o LTI on 29 Jun’21. </li> </ul> <br /> <b>Alba Major Operational Highlights in Q2 2021</b> <ul> <li> Sales’ volume topped 388,149 metric tonnes (MT) - down by 1% YoY while Production reached 391,954 MT, up by 3.5% YoY. </li> <li> Value Added Sales averaged 65% of the total shipments (vs. 62% in 1Q21). </li> <li> Alba’s achieved savings through AL-HASSALAH initiative amounted US$56 million (versus US$70 million target by year-end 2021). </li> <li> Recipient of Best Corporate Governance Award in Bahrain by Ethical Boardroom for 2021. </li> <li> Natural gas price set at US$3.75/MMBTU till 31 March 2022. </li> <li> Environmental Conservation Project -Spent Pot Lining (SPL) Treatment Plant in progress (&gt;91%). </li> </ul> <br /> <b>2021 Alba Priorities</b> <ul> <li> Evolve Towards Safety Excellence &amp; Keep Alba’s Human Capital Safe Amidst COVID-19. </li> <li> Support the Government’s Initiatives &amp; aim is to have 100% vaccinated workforce. </li> <li> Meet 2021 Production Target of 1,540,000 metric tonnes &amp; Deliver on AL HASSALAH Savings’ Target of US$70 Million by 2021-end. </li> <li> Screen Potential Upstream Opportunities to Secure 1/3 Alumina Requirements &amp; Continue Dialogue with Hangzhou Jinjiang Group Co. Ltd. </li> <li> Capitalise on Aluminium Stewardship Initiative and Ecovadis Certifications to Penetrate New Markets &amp; Increase VAP Sales. </li> <li> Complete Environmental Conservation Project, 1stof its Kind in the Region, Spent Pot Lining Treatment (SPL) Plant. </li> <li> Focus on Green and Sustainable Initiatives. </li> <li> Release Alba’s Fifth Edition of Sustainability Report after Quality Assurance. </li> </ul> <br /> <font color="black"> Commenting on Alba’s financial performance for the first half of 2021, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: <br /><br /> “We continued with the strong momentum we’ve started in the first quarter of 2021, and this has led us to set all-time records in our performance: <br /><br /> <ul> <li> We have achieved highest-ever production of 773,887 metric tonnes while Value Added Sales reached new heights with 472,323 metric tonnes (translating into 64% of our Sales). These new precedents were made possible thanks to Line 6 Expansion Project. </li> <li> EBITDA margin has beaten the record we have achieved in Q1 2021 and set a new benchmark with 33% (versus 29.8% in Q1 2021). </li> <li> Our Profit topped new peak for the first 6-months of 2021 with US$385 million, up by 1,461% YoY. </li> </ul> <br /> Our business performance is directly correlated to our Safety mindset as we truly believe that productivity and Safety are mutually inclusive. Today, we have achieved more than 14 million safe-working hours without LTI.” <br /><br /> Alba’s Chief Executive Officer, Ali Al Baqali, added: <br /><br /> &quot;Despite the COVID-19 challenge and global logistics’ issue, Alba has set new benchmarks in its 5 decades of commercial operations: higher production, higher EBITDA and higher Net Profit ever achieved in 6-months period. This unparalleled operational and financial performance is defined by our strong results rather than our attributes. Our results speak louder than words and this strong comeback on all fronts would not have been made possible without the resilience of our workforce and for ‘Thinking First, Safety Always'.” <br /><br /> Alba Management will hold a conference call on Monday 02 August 2021 at 3 PM Bahrain Time to discuss its financial and operational performance for Q2 and H1 2021, outline the Company's priorities for 2021 as well as provide an update on the current market conditions and outlook for 2021. </font>​Alba Receives Safeguard Label from Bureau Veritashttp://www.albasmelter.com/mc/News/Pages/2021/Alba-Receives-Safeguard-Label-from-Bureau-Veritas.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210712.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> </div> <div> </div> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, is pleased to announce receiving the SafeGuard Hygiene Excellence and Safety Label from Bureau Veritas for its diligent efforts in ensuring the Health and Safety of its employees and contractors’ workers amidst COVID-19 pandemic. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This recognition came following a detailed on-site audit process which took place between 26 – 31 May 2021 to examine the effectiveness of various precautionary measures which the Company has been implementing across its campus and different departments since the outbreak of COVID-19 as well as the different policies and procedures governing these measures. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">On this occasion, Chief Executive Officer Ali Al Baqali said: </div> <div style="text-align:justify">“We are pleased to be the first industrial company in Bahrain to receive the SafeGuard Label from Bureau Veritas as this recognition underlines that our unrelenting commitments towards keeping Alba - our home - clean and safe is the hallmark of best standards. Safety and Health are habits we choose to practice at everything we do – this is a reflection of who we are in Alba.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Bureau Veritas, a global leader in compliance, has established the SafeGuard Hygiene Excellence and Safety Label to certify establishments that have met hygiene and sanitation standards and are compliant with local regulations, recognised industry best practices to mitigate and prevent all risks associated with the COVID-19 pandemic. </div>Alba Wins RoSPA Gold Medal Award for the 8th Consecutive Yearhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-Wins-RoSPA-Gold-Medal-Award-for-the-8th-Consecutive-Year.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210623.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China and a leader in Employee’s Safety, is the proud winner of 2021 Gold Medal Award from the Royal Society for the Prevention of Accidents (RoSPA) for the eighth consecutive year. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This prestigious accolade marks Alba’s outstanding and exceptional safety and health performance from 01 January 2020 to 31 December 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this award, Alba’s Chief Executive Officer Ali Al Baqali said: </div> <div style="text-align:justify">“Winning this award for 8-years in a row is a true reflection of our continuous journey in our pursuit of Safety Excellence. This year, the ROSPA Award is all the more remarkable as it commended the intensive efforts by our employees and contractors’ personnel for maintaining Safety a priority despite the Pandemic challenges. I thank everyone for never giving Safety a day-off.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">RoSPA is a UK-based organisation which has been recognising Health and Safety success for companies around the world for more than 50 years. Alba will be awarded at the 2021 RoSPA Health and Safety Award ceremony which will be held virtually on 09 September 2021. </div> ​Alba Launches its First Environment, Social and Governance Campaignhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-Launches-its-First-Environment-Social-and-Governance-Campaign.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210613.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, launched today Sunday13 June 2021 the first-of-its-kind Campaign ‘Achieving the Balance’ that focusses on Environment, Social and Governance (ESG) matters. With this Campaign, Alba joins its peers in the GCC to mark the ESG Week under the umbrella of the Gulf Aluminium Council (GAC). </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s ESG Campaign ‘Achieving the Balance’ will be held virtually until 17 June 2021 and focus on its sustainable initiatives that are aligned with Bahrain’s Economic Vision 2030. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Speaking about the ESG Campaign, Alba’s Chief Executive Officer, Ali Al Baqali said: </div> <div style="text-align:justify">“Global challenges such as Climate Change, Environment Conservation, Clean Energy and COVID-19 pandemic have prompted a sense of urgency to rebalance ESG matters. In Alba, we want to be the ESG change we want to see in the world. As one of the leading companies in Bahrain, we can only produce responsibly by achieving the balance between our business activities and sustainable initiatives.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This Campaign kicked-off with a virtual keynote by Al Baqali to all employees and contractors’ personnel on Sunday 13 June 2021. Alba Management will present, via virtual lectures during this week, topics revolving around Reduction of Green House Gases, Creating a Sustainable Social Impact, and Responsible Sourcing, amongst other matters. A live debate will also be held on Climate Change between two teams comprising Alba employees on the last day of this Campaign. Moreover, Alba officials will participate in additional activities that are being held in cooperation with the Gulf Aluminium Council (GAC). </div>Alba Scoops Best Corporate Governance Award in Bahrain by Ethical Boardroomhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-Scoops-Best-Corporate-Governance-Award-in-Bahrain-by-Ethical-Boardroom.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210609.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, is proud to announce that it has been the recipient of the ‘Best Corporate Governance Award’ in Bahrain by Ethical Boardroom for 2021. </div> <div> </div> <div> The Ethical Boardroom Corporate Governance Awards recognise outstanding companies who have exhibited exceptional leadership in governance to include gender diversity. Such recognitions highlight the important role that corporate governance plays in determining a company’s success and a Board’s contribution to the creation of long-term value. </div> <div> </div> <div> Commenting on this Award, Alba’s Chairman of the Board of Directors Shaikh Daij bin Salman bin Daij Al Khalifa said: </div> <div> “Corporate Governance is about the way we do business in Alba, incorporating it in every business activity we have, and this award is a statement that our people participation is the essence of our strong governance. Environment, Social and Corporate Governance (ESG) matters sit at the top of Alba’s Board and Management priorities and ESG is fully integrated in our vision, mission and values.” </div> <div> </div> <div> As a Company which has a dual-listing on Bahrain Bourse and London Stock Exchange, Alba operates in line with a set of Board-approved Corporate Governance principles in line with The Code of Bahrain (2018) and is monitored by Alba’s Board Nomination, Remuneration and Corporate Governance Committee. </div> <div> </div> <div style="text-align:justify"> Further insights on Alba’s Governance can be found in its Sustainability Report as published on its website www.albasmelter.com [the fifth edition of the Sustainability Report will be released by the end of Q2 2021]. ​</div>Alba holds its Board Meeting for second quarter of 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-holds-its-Board-Meeting-for-second-quarter-of-2021.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210607.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter ex-China, continues to run its operations at a full run-rate as the Company weathers the COVID-19 crisis with its resilience and strength, stated the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa during the second quarterly Board of Directors’ meeting held virtually on Monday 07 June 2021 through MS virtual platform. </div> <div> </div> <div style="text-align:justify"> During thi​s meeting, the Board approved the Minutes of the previous meeting as well as reviewed Reports of the Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. Updates were also given to include the Training Program for the Directors (Section 4: Principle 4: Third of the Corporate Governance Code of the Kingdom of Bahrain 2018), Safety and Plant performance amidst COVID-19 pandemic, Alba’s 5-year strategic initiatives, insights on the market fundamentals and Alba’s overall performance to-date. In addition, the Board reviewed in detail the responses of the Board Annual Questionnaire for 2020. </div> <div> </div> <div> Adding further, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: </div> <div> “We continue to connect the dots and lead from the front in this unprecedented time as we focus on what really matters for our strong come-back: Safety and well-being of our workforce (employees and contractors’ personnel), Business Continuity of our operations and on-time delivery of our products. I also take the opportunity to congratulate Alba people for achieving more than 12 million safe working-hours without Lost Time Injury.” </div> <div> </div> <div style="text-align:justify"> Including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. © – Mr. Yousif Abdulla Taqi, Mrs. Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr. Tim Murray and Mrs. Rasha Sabkar. The three directors appointed by Sabic Industrial Investments Co. (SIIC) are Mr. Ahmed Al Duriaan, Mr. Iyad Al Garawi and Mr. Omar Al Amoudi and one elected director, Mr. Mutlaq Al-Morished. </div>Alba Discloses its Financial Results for the First Quarter of 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-Discloses-its-Financial-Results-for-the-First-Quarter-of-2021.aspx<!​​<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210503.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <b><br />Q1 2021 Financial Performance:</b> <br /><br /> Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), the world’s largest aluminium smelter w/o China, has reported a Profit of BD52.2 million (US$138.8 million) for the first quarter of 2021, up by 807% Year-over-Year (YoY), versus a Profit of BD5.8 million (US$15.3 million) for the same period in 2020. The Company reported Basic and Diluted Earnings per Share of fils 37 for Q1 2021 versus Basic and Diluted Earnings per Share of fils 4 for the same period in 2020. <br /><br /> The Total Comprehensive Income for Q1 2021 stood at BD58.4 million (US$155.4 million) versus Total Comprehensive Loss for the first quarter of 2020 of BD1.6 million (US$4.3 million) – up by 3,539% YoY. Gross Profit for Q1 2021 was BD80.5 million (US$214 million) versus BD33.5 million (US$89.2 million) for the same period in 2020 – up by 140% YoY. <br /><br /> With regards to the Revenue in Q1 2021, Alba generated BD302.7 million (US$805.1 million) versus BD275.9 million (US$733.8 million) in Q1 2020 - up by 10% YoY. <br /><br /> Total Equity as at 31 March 2021 stood at BD1,137.5 million (US$3,025.4 million), up by 5%, versus BD1,079.5 million (US$2,871.1 million) as at 31 December 2020. Alba’s Total Assets as at 31 March 2021 were BD2,435.5 million (US$6,477.4 million) versus BD2,353.7 million (US$6,259.8 million) as at 31 December 2020 - up by 3%. <br /><br /> Alba’s top-line were driven in the first quarter of 2021 by higher LME prices (+24% YoY) and partially offset by lower Sales’ volume (a drop of 6% YoY) while the bottom-line was driven by higher top-line and partially impacted by higher depreciation as well as higher General and Selling Expenses. <br /><br /> <b><br />Industry Highlights: Macroeconomic Recovery &amp; Tight Scrap Market</b> <br /><br /> <b>Consumption</b> <br /> <ul> <li> Aluminium market recovered in Q1 after COVID-19 pandemic left its mark on the world in 2020. World market consumption surge by 17% YoY. More spending/stimulus by Governments across the globe translated in strong metal consumption in many markets. The strong demand for Aluminium metal driven by energy transition and supply constraints. </li> <li> Chinese consumption surged to pre-pandemic levels (+27% YoY). </li> <li> World ex-China consumption rebound: 6% YoY in North America, 4% YoY in Europe and c.1% YoY in Middle East. </li> </ul> <br /> <b>Production</b> <br /> <ul> <li> After a deep-dive in 2020, record-high smelting margins (thanks to LME price recovery) enhanced higher capacity utilization rates, especially from China, were behind the world aluminium production’s growth. </li> <li> Robust imports of Aluminium have boosted Chinese production by 9% YoY [thanks to high in SHFE price]. </li> <li> Primary Aluminium supply in MENA down by 2% YoY owing to 4% supply cuts in UAE. </li> <li> Production in North America down by 1% YoY mainly due to supply-cuts. </li> <li> World market in surplus with China (+396Kt) and without China in deficit (-110Kt). </li> </ul> <br /> LME inventories at ~1.897 million MT as of 31 March 2021 (up by 63% YoY). LME-cash averaged US$2,092/MT (+24% YoY). <br /><br /> <b><br />Alba Safety Highlights</b> <ul> <li> Plant Safety: implementing a continuous improvement mindset through ‘Virtual Safety Hour’ Campaign. Launch of mini-SHE Campaign ‘The Right Choice’ in early April. </li> <li> Working meticulously with the National Medical Taskforce for combatting COVID-19 to ensure our People’s Safety -Employees and Contractors. </li> <li> Remote work from home continued for soft departments (men and women). </li> <li> Recipient of International Safety Award from the British Safety Council. </li> <li> Coming-back stronger as the Company hits 9.6 million safe working-hours w/o LTI by March-end 2021. Alba achieved 10 million safe working-hours w/o LTI on 12 April 2021. </li> </ul> <br /> <b>Alba Major Operational Highlights</b> <ul> <li> People-Focused: 199 National employees promoted across Alba’s plant in January 2021. </li> <li> Alba’s new Vision, Mission and Values revealed at the inaugural session of CEO Majlis 2021. </li> <li> Sales’ volume topped 355,450 metric tonnes (MT), down by 6% YoY while Production reached 381,933 MT, down by 2% YoY. </li> <li> Value Added Sales averaged 62% of the total shipments. </li> <li> Natural gas price set at US$3.75/MMBTU till 31 March 2022. </li> <li> Spent Pot Lining (SPL) Treatment Plant in progress -overall progress exceeded 75%. </li> <li> AL-HASSALAH achieved savings of US$39 million. </li> </ul> <br /> <b>2021 Alba Priorities</b> <ul> <li> Evolve Towards Safety Excellence &amp; Keep Alba’s Intrinsic Assets Safe Amidst COVID-19. </li> <li> Lead by Example &amp; Support the Government’s Initiative by Taking COVID-19 Vaccine. Aim is to have &gt; 75% vaccinated workforce. </li> <li> Meet 2021 Production Target of 1,540,000 metric tonnes &amp; Deliver on AL HASSALAH Savings’ Target of US$70 Million by 2021-end. </li> <li> Screen Potential Upstream Opportunities to Secure 1/3 Alumina requirements &amp; Continuous Dialogue with Hangzhou Jinjiang Group Co. Ltd. </li> <li> Capitalise on Aluminium Stewardship Initiative and Ecovadis Certifications to Penetrate New Markets &amp; Increase VAP Sales. </li> <li> Complete Spent Pot Lining Treatment Plant as per Timeline. </li> <li> Focus on Green and Sustainable Initiatives. </li> <li> Release Alba’s Fifth Edition of Sustainability Report by end of Q2 2021. </li> </ul> <br /> <font color="black"> Commenting on Alba’s financial performance for the first quarter of 2021, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: “The best way to foresee a sustainable future is to plan it. Alba is where it is today thanks to the guidance and wise directives of Bahrain’s leadership as well as their farsighted vision and support towards the Line 6 Expansion Project - which has become a reality - and for trusting us to achieve this landmark project. <br /><br /> I also take the opportunity to thank HRH the Crown Prince and Prime Minister for his thought-decision to freeze natural gas price at US$3.75/MMBTU for a year. HRH directive reinforces his unlimited support to Alba’s growth and development which along with stronger metal demand, higher LME price and continuous improvements in production efficiencies will create greater value for Alba’s shareholders. <br /><br /> In terms of business performance, we had a strong come-back and we delivered a solid quarter on many fronts: <br /><br /> <ul> <li> Alba operations continue to run at full run-rate. The higher productivity was made possible thanks to Line 6. </li> <li> VAP Sales’ volume – highest on record in Alba’s history (218,767 metric tonnes). </li> <li> A record-high EBITDA margin in the Company’s 50-years of commercial operations – 29.8%. </li> <li> Highest-ever recorded Profit in a quarter of BD52.2 million (US$139 million), up by 807% YoY.” </li> </ul> <br /> Emphasizing further, Alba’s Chief Executive Officer, Ali Al Baqali said: <br /><br /> “If we do what we’ve always done, we will end-up with what we’ve always gotten. <br /><br /> We had to think differently, thanks to this pandemic, to advance our performance as a Company on the operational and financial profitability fronts. It’s thanks to our agile workforce that we have been able to bounce-back and start 2021 strong. We also take pride in our Safety achievement as we topped collectively more than 10 million safe-working hours without LTI. <br /><br /> I am optimistic about our business and confident that our performance will exceed our ambitious objectives – Safety Excellence, higher productivity, lean operations as we move forward in 2021.” <br /><br /> Alba Management will hold a conference call on Tuesday 04 May 2021 to discuss Alba's financial and operational performance for Q1 2021 as well as outline the Company's priorities for 2021. </font>​Alba achieves 10 Million Safe Working-Hours without LTIhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-achieves-10-Million-Safe-Working-Hours-without-LTI.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210412.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> </div> <div> </div> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the largest smelter in the world ex-China, is on course to evolve as the safest smelter in the world with achieving 10 million safe working-hours without Lost Time Injuries (LTI) on Monday 12 April 2021. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Speaking on this Safety milestone, Alba’s Chief Executive Officer, Ali Al Baqali said: </div> <div style="text-align:justify">“Achieving 10 million safe working-hours without LTI is no coincidence, when collectively as a team we do the Right Choice. Safety is not an act, but rather a lifestyle for Alba employees and contractors’ workforce. </div> <div style="text-align:justify">Taking Ownership of Safety is key to our success today and emphasizes Alba’s objective of maintaining a zero-accident work environment within the Company.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba recently held the Right Choice mini-SHE Campaign from 05 to 12 April 2021, which was a huge success with more than 3,000 employees and contractors’ workers attending the sessions virtually. Further insights on Alba’s ESG disclosure can be found in Alba’s Sustainability Report -- Alba will release its fifth edition of Sustainability Report by Q2 2021 post receiving, for the first time, Quality Assurance on its disclosure. </div>Alba lands ISO 22301:2012 Certification in Business Continuity Management Systemhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-lands-ISO-223012012-Certification-in-Business-Continuity-Management-System.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210407.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify"> The world’s largest aluminium smelter ex-China, Aluminium Bahrain B.S.C. (Alba) announced today that it has received ISO 22301:2012 certification for Business Continuity Management System (BCMS), which is an international recognition for its ability to continue its business operations despite disruptions as well as adherence to best practices in the implementation of its BCMS. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Commenting on this occasion, Alba’s Chief Executive Officer Ali Al Baqali said: </div> <div style="text-align:justify"> “The early implementation of our BCMS and Emergency Response Plans has helped us to navigate through the COVID-19 crisis, keep our people safe and ensure the sustainability of our operations. Our continuous improvements are made to prepare, respond and recover from crises and this certificate validates our resilience and ability to pursue excellence in everything we do.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Bureau Veritas (BV), in line with the United Kingdom Accreditation Service (UKAS), conducted the audit, which covered all departments in Alba. </div>Alba launches ‘The Right Choice’ mini-SHE Campaignhttp://www.albasmelter.com/mc/News/Pages/2021/Alba-launches-The-Right-Choice-mini-SHE-Campaign.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210405.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter ex-China, launched its mini Safety, Health and Environment (SHE) Campaign ‘the Right Choice’ on Monday 05 April 2021. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">‘The Right Choice Campaign’ will be held virtually from 05 to 12 April 2021 and broadcasted live via virtual platforms to Alba employees and contractors’ workers. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The Campaign was inaugurated by Alba’s Chief Executive Officer Ali Al Baqali who stated: </div> <div style="text-align:justify">“We are what we repeatedly do, and Safety Excellence is a habit entrenched in our culture and Values. Safety is practiced every day individually and collectively in Alba – this is our forever motto. ‘‘The Right Choice’ Campaign demonstrates our ONE-team spirit in making Safety a first choice in everything we do.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The Right Choice Campaign is different from its predecessors as it highlights the joint efforts exerted by teams to improve the overall Safety, Health and Environment in Alba. A total of 27 teams submitted their initiatives, which were then shortlisted by a judging panel who chose a winner for each of the Safety, Health and Environment categories. The week-long Campaign will also feature special lectures by external speakers from the Supreme Council of Environment, General Directorate of Traffic, and International Organisation for Child Protection. </div>