ALBAhttp://www.aluminiumbahrain.com©2011 ALBAALBA News Feedssomeone@alba.com.bhsomeone@alba.com.bhAlba 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>Alba wins British Safety Council’s International Safety Award 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-wins-British-Safety-Councils-International-Safety-Award-2021.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210329.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, has been the recipient of the International Safety Award from the British Safety Council in recognition of its commitment to manage the risk of workplace injury and ill health during the 2020 calendar year. </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">“There is no limit when it comes to the Safety and well-being of our employees and contractors’ workers. Our priority on ‘Safety First &amp; Always’ has helped us build a strong Safety culture all-year-round as well as empowered us to successfully navigate through the challenging times of COVID-19. We are pleased to be recognised again by the British Safety Council which is vote of confidence that we are what we repeatedly do – Safety Excellence is not an act but a lifelong habit.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">British Safety Council recognises organisations that have demonstrated to the satisfaction of the scheme’s independent judges their commitment to preventing workplace injuries and work-related ill health as well as mental health during the previous calendar year. “This is an important milestone in the Project and for our longstanding partnership with Alba. As a partner of choice, I am proud that Siemens is supporting Bahrain’s industrial sector in this economically significant development, and also that our projects continue to be executed to the highest safety and quality standards and in a timely manner.” </div>Alba holds its Annual General Meeting for 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-holds-its-Annual-General-Meeting-for-2021.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210311.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, held its Annual General Meeting (AGM) on Thursday 11 March 2021 – its first AGM meeting through virtual platforms. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">During the AGM, the minutes of the previous Annual General Meeting which was held on 08 March 2020 were discussed and approved. The Report of the Board of Directors for the year-ended 31 December 2020 was approved while the External Auditors’ Report for the Financial Statements for the year-ended 31 December 2020 was reviewed during this meeting. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Approval was given to the non-distribution of cash dividends to the shareholders and transfer BD9,755 Thousand - the Net Profit for the year-ended 31 December 2020, to the Retained Earnings. Approvals were also given to the recommendation of the Board of Directors’ total remuneration of BD210,000 for the year-ended 31 December 2020 and subject to the approval of the Ministry of Industry, Commerce and Tourism. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The 2020 Corporate Governance Report was tabled before the shareholders and KPMG was re-appointed as the Company’s External Auditors for 2021. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">In addition, Alba’s shareholders approved the transactions carried-out during the financial year-ended 31 December 2020 with any of the related parties as described in note # 27 of the financial statements in line with Article 189 of the Commercial Companies Law as well as absolved the Board of Directors from their actions/activities for the year-ended 31 December 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Approval was given to SICO B.S.C. (c) to provide Market-Making services by utilising at any given time a maximum of 3% of Alba’s issued share capital for 3 years period and subject to the approval of the Central Bank of Bahrain. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this occasion, the Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: </div> <div style="text-align:justify">“COVID-19 pandemic tested us in every way without exception and the challenges we went through in 2020 have unlocked Alba’s potential and true strength. We learnt a lot and we established many firsts – all thanks to the agility of our people. As we progress in 2021, we set our objectives for Alba to be at the forefront of the Aluminium industry all the while drive long-term growth for our shareholders.” </div>Alba Discloses its Financial Results for the Fourth Quarter and Full-Year of 2020http://www.albasmelter.com/mc/News/Pages/2021/Alba-Discloses-its-Financial-Results-for-the-Fourth-Quarter-and-Full-Year-of-2020.aspx<!​​<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210210.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <b>Q4 2020 and Full-Year 2020 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 BD32 million (US$85.1 million) for the fourth quarter of 2020, up by 132% Year-over-Year (YoY) versus a Profit of BD13.8 million (US$36.7 million) for the same period in 2019. The Company reported Basic and Diluted Earnings per Share of fils 23 for Q4 2020 versus Basic and Diluted Earnings per Share of fils 10 for the same period in 2019. The Total Comprehensive Income for Q4 2020 stood at BD32.9 million (US$87.7 million) versus Total Comprehensive Income for the fourth quarter of 2019 of BD13.8 million (US$36.7 million) – up by 138% YoY. Gross Profit for the fourth quarter of 2020 was BD60.1 million (US$159.9 million) versus BD44.8 million (US$119.1 million) in Q4 2019 – up by 34% YoY. <br /><br /> For the Full-Year of 2020, Alba has reported a Profit of BD9.7 million (US$25.9 million), up by 81% YoY, versus a Profit of BD5.4 million (US$14.3 million) for 2019. Alba reported Basic and Diluted Earnings per Share of fils 7 versus Basic and Diluted Earnings per Share of fils 4 in 2019. Alba’s Total Comprehensive Income for the Full-Year of 2020 was BD1.4 million (US$3.9 million), down by 73% YoY, compared to a Total Comprehensive Income of BD5.4 million (US$14.3 million) for 2019. Gross Profit for 2020 was BD141 million (US$375 million) versus BD90.2 million (US$239.9 million) in 2019 – up by 56% YoY. <br /><br /> With regards to the Revenue from Contracts with Customers in Q4 2020, Alba generated BD278.8 million (US$741.5 million) versus BD293.7 million (US$781 million) in Q4 2019 - down by 5% YoY. For the Full-Year of 2020, Revenue from Contracts with Customers reached BD1,061.4 million (US$2,822.9 million), up by 3% YoY, compared to BD1,029.4 million (US$2,737.8 million) for 2019. <br /><br /> Total Equity as at 31 December 2020 stood at BD1,079.5 million (US$2,871.1 million), up by 0.09% YoY, versus BD1,078.6 million (US$2,868.5 million) as at 31 December 2019. Alba’s Total Assets as at 31 December 2020 were BD2,353.7 million (US$6,259.8 million) versus BD2,408.2 million (US$6,404.8 million) as at 31 December 2019 - down by 2%. <br /><br /> Alba’s top-line was impacted in the fourth quarter of 2020 by lower metal Sales’ volume and partially offset by higher LME price [up by 9% Year-over-Year (US$1,918/t in Q4 2020 versus US$1,754/t in Q4 2019)] while the bottom-line was driven by higher LME prices and partially impacted by higher depreciation, financial charges and foreign exchange losses. <br /><br /> Alba’s top-line was driven in 2020 by higher metal Sales’ volume (14% YoY) and partially offset by lower LME price [down by 5% Year-over-Year (US$1,702/t in 2020 versus US$1,792/t in 2019)] while the bottom-line was driven by higher top-line and partially impacted by higher depreciation, financial charges and foreign exchange losses. <br /><br /> <b>2020 Industry Highlights – Supply/Demand in Focus<br /> </b> <br /> The global COVID-19 pandemic has forced short to medium-term challenges for all countries around the world while lockdowns casted potholes for major markets’ recovery. The political and economic response to COVID-19 has raised further emphasis on ESG issues and given voice for stimulus packages to be green. <ul> <li>The ripple effects from COVID-19 outbreak along with the subsequent control measures have seen the world market demand easing to 62.2 million metric tonnes (MT) – down by 4% Year-over-Year (YoY).</li> <li>COVID-19 outbreak continues to take its toll on Aluminium demand in major markets. A double-digit drop in consumption -- 14% YoY in North America and Middle East, 13% YoY in World ex-China, and 12% YoY in Europe.</li> <li>China closed 2020 with a modest improvement as its economy resumed its activity to pre-COVID-19 capacity utilization [a 4% YoY increase in demand].</li> <li>China: a net importer of aluminium for 1st time since 2009 owing to government stimulus packages which helped to reduce metal surplus outside China.</li> <li>Manufacturing activity in US continues at a steady pace with North America supply up by 5% YoY.</li> <li>Thanks to Alba’s Line 6 Expansion Project, production in Middle East surged by 3% YoY amidst 2% supply cuts in UAE.</li> <li>2020 left the Aluminium value-chain with a structural surplus: World market in surplus with China (+2.6 million MT) and without China (+3.4 million MT).</li> <li>LME inventories at ~1.3 million MT by end-2020 (versus ~1.4 million MT in 2019). LME-Cash averaged US$1,702/t in 2020 - down by 5% YoY.</li> </ul> <br /> <b>Alba Safety Highlights Amidst COVID-19</b> <ul> <li>Strong emphasis on ‘Safety First, Safety Always’ with the launch of Safety Voice virtual campaign on 2 Nov’20.</li> <li>Alba closed 2020 with 6 million safe working-hours despite the unfortunate LTI on 3 Aug’20.</li> <li>Working diligently with the National Taskforce for combatting COVID-19 to ensure our People’s Safety.</li> <li>Giving back beyond Alba via various focused-initiatives in the local community (sanitization, face masks distribution, etc.) to lessen COVID-19 impact.</li> <li>Enabling remote work from home for soft departments (men and women).</li> <li>Alba ranked FIRST for second year in a row on Environmental, Social and Governance (ESG) amongst companies in Bahrain by ESG Invest.</li> </ul> <br /> <b>2020: Alba Major Operational Highlights</b> <ul> <li>People-Focused: rolling-out ‘Al Jisr’ Programme -- a new Training and Development initiative to build supervisory skills for national workforce on 01 Nov’20.</li> <li>Alba inked MoU with Hangzhou Jinjiang Group Co. Ltd (HJJ) to explore future upstream development opportunities.</li> <li>Strong operational performance: Sales’ volume up by 14% YoY to 1,540,983 metric tonnes (MT), Production up by 13% YoY to 1,548,500 MT while VAP Sales averaged 44%.</li> <li>Growing presence in Asia with establishing a Branch in Singapore.</li> <li>Successful completion of Port Upgrade project.</li> <li>Spent Pot Lining (SPL) Plant: overall progress exceeded 60% as of 31 Dec’20.</li> <li>Line 6 Expansion Project: a recipient of the much-coveted GCC Industrial Project of the Year in the 2020 edition of the MEED Projects Awards.</li> <li>Project Titan – Phase IV achieved savings of US$145 million, higher by US$45 million versus a target of US$100 million.</li> </ul> <br /> <b>2021 Alba Priorities</b> <ul> <li>Evolve Towards Safety Excellence &amp; Keep Alba’s Intrinsic Assets (Employees &amp; Contractors) Safe Amidst Novel COVID-19.</li> <li>Lead by Example &amp; Support the Government’s Initiative by Taking COVID-19 Vaccine.</li> <li>Roll-out AL HASSALAH Savings’ Initiative with the Aim to Achieve US$100 million by 2022.</li> <li>Screen Potential Upstream Opportunities to Secure 1/3 Alumina requirements &amp; Continuous Dialogue with Hangzhou Jinjiang Group Co. Ltd (HJJ).</li> <li>Capitalise on Aluminium Stewardship Initiative (ASI) and Ecovadis Certifications to Penetrate New Markets &amp; New Market Segments.</li> <li>Complete Spent Pot Lining Treatment Plant as per Timeline.</li> <li>Focus on Green and Sustainable Initiatives.</li> <li>Launch 2021 New Vision, Mission &amp; Values [Vision: to be the number one aluminium supplier for the generations to come. Mission: being a responsible corporate citizen, we want to create value for all stakeholders and society. Values: Safe &amp; Green, Together, Ethics, Excellence, Resilience).</li> </ul> <br /> <font color="black"> Commenting on Alba’s financial performance for the full year of 2020, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: <br /><br /> “2020 was a year like no other but despite the challenging market sentiment, Alba closed this year stronger and on many fronts: <br /><br /> <ul> <li>Our operations were running at full capacity while maintaining the Safety of our workforce: employees and contractors’ personnel.</li> <li>Our operational performance was the highest ever achieved: 1,548,500 metric tonnes and beating our own target of 1,540,000 metric tonnes.</li> <li>Our resilient operations coupled with our agility yielded a sound financial performance with our Profit soaring to BD9.7 million (US$25.9 million) – up by 81% YoY.</li> <li>In Q4 2020 alone, our Profit topped BD32 million (US$85.1 million) – this unparalleled financial performance was behind our strong finish in 2020.”</li> </ul> <br /> Adding further, Alba’s Chief Executive Officer, Ali Al Baqali said: <br /><br /> “As I complete my first year as a full-time CEO, I am proud to say that our biggest achievement in 2020 was keeping our People safe – this is our number one priority. <br /><br /> Despite all odds, we have forged ahead in 2020 and kept our cost lean by exceeding Project Titan - Phase IV Savings’ Target [of US$100 million] by achieving additional US$45 million savings – this was only made possible thanks to our nimble workforce. <br /><br /> As we progress into 2021, we remain committed to Emerge Stronger as we advance towards Safety Excellence, capitalise on the lessons learnt in the pandemic year to meet AL HASSALAH objectives as well as have a Forward-Focus in respect to our ESG initiatives.” <br /><br /> Alba Management will hold a conference call on Monday 15 February 2021 to discuss Alba's financial and operational performance for 2020 as well as outline the Company's priorities for 2021. </font>​199 national employees promoted across Alba’s plant in 2020http://www.albasmelter.com/mc/News/Pages/2021/199-national-employees-promoted-across-Albas-plant-in-2020.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210117.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 – announced the promotion of 199 national employees across various departments during the second week of January 2021. These promotions reflect Alba’s commitment to develop its nationals from within to higher positions through customised training and development programmes. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Based on the Alba’s Master Training Plan (announced in October 2019), 52 employees were promoted to Supervisory and Management positions whereas more than 147 employees received higher grade promotions within the non-supervisory ranks. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s Chief Executive Officer Ali Al Baqali stated on this occasion:<br /><br /> </div> <div style="text-align:justify">“Despite the Pandemic, Alba continues to train its people in terms of developing their skills, responsiveness, and agility thus preparing them for what’s coming their way to lead Alba in the future.<br /><br />We wish them the best as they define their own path while advancing their career journey in Alba.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba also recently announced the Al Jisr Programme, a new Training and Development initiative that complements Alba’s Master Training Plan. The Al Jisr Programme targets Bahraini employees within non-supervisory ranks and provides them with technical and soft skills through a 4-year period to be eligible to apply for supervisory vacancies. </div> ​Alba CEO unveils new Vision, Mission and Values at the inaugural session of Majlis 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-CEO-unveils-new-Vision-Mission-and-Values-at-the-inaugural-session-of-Majlis-2021.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210111.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C (Alba)’s - the world’s largest aluminium smelter ex-China - Chief Executive Officer Ali Al Baqali rolled-out the Company’s new Vision, Mission and Values at the inaugural ‘Majlis’ session held on Monday 11 January 2021 at the Alba Oasis Hall. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s new Vision – To be the number one aluminium supplier for the generations to come; Mission - Being a responsible corporate citizen, we want to create value for all our stakeholders and society; and Values - Safe &amp; Green, Together, Ethics, Excellence and Resilience will set Alba in motion where Safety, People Development, Governance and Sustainability will be its linchpins. The Majlis session also witnessed the CEO announcing Alba’s Objectives for 2021 - Safety Excellence, Al Hassalah (new savings’ program), Forward Focus and Emerge Stronger. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Al Baqali stated: </div> <div style="text-align:justify">“We can’t change 2020 but we can learn from it to emerge stronger and get better as a Company and Oneself. As we step in this year, we hope through rolling-out our 2021 Objectives that we will make 2021 count for all our stakeholders and society.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This year, the inaugural session of Majlis - attended by the Executive Management, Directors and Managers - was held at the Oasis Hall while the remaining sessions will be held virtually on January 13-14, 2021. While COVID-19 has made physical distancing mandatory, Alba continues to remain close-knit as every session of the Majlis will be broadcasted live over virtual platforms to all employees and contractors’ employees. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The Annual Majlis was kicked-off in January 2020 when Ali Al Baqali took charge as the CEO of the Company. Held at the beginning of the year, the Annual ‘Majlis’ is a two-way communication platform where the CEO Ali Al Baqali will shed the light on 2020 major highlights and year in-review, current market trends as well as share 2021 Objectives. </div>2020 marks Alba’s highest production record ever achieved with more than 1.548 million MThttp://www.albasmelter.com/mc/News/Pages/2021/2020-marks-highest-production-record-ever-achieved.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210106.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 - closes 2020 by beating its Production Target of 1,540,000 metric tonnes per annum (mtpa) to top a breakthrough record of 1,548,500 metric tonnes, the highest-ever achieved in 50-years of commercial operations [up by 13% Year-over-Year versus 1,365,005 mtpa in 2019]. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this production-record, Alba’s Chief Executive Officer Ali Al Baqali said:<br /><br /> </div> <div style="text-align:justify">“2020 was a year like no other with world-shifting challenges. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">But for Alba and despite all odds, we have raised the bar and finished 2020 strong by achieving the highest-ever record in our operational performance. This achievement was only made possible thanks to our dedicated workforce, employees and contractors’ employees who rose to such challenges while remaining fully committed to our motto of ‘Safety First, Safety Always’.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The celebratory ceremony was held on Wednesday 06 January 2020 while adhering to social distancing norms and was attended by the Executive Management team along with many employees from across the plant. </div> ​​​