We didn’t just meet the challenges of 2024; we redefined what is possible, proving that unwavering focus transforms vision into record-breaking reality.

chairman message

  • 2024 has been a defining year for Aluminium Bahrain B.S.C. (Alba), marked by strategic milestones that have strengthened our position as a global leader in the aluminium industry. Through our sharp focus on operational excellence, sustainability, and value creation, we have delivered record-breaking results while positioning Alba for long-term growth. This year’s achievements are a testament to our ability to adapt to the evolving global landscape and remain steadfast in delivering value for all stakeholders.
  • Sound Financial Performance: A Strategic Foundation for Growth Alba’s financial performance stands as a testament to our operational resilience, strategic foresight, adaptability despite fluctuating market dynamics and higher alumina costs. We achieved an exceptional profit of BD184.5 million (US$490.8 million, reflecting a significant 56.4% year-over-year increase compared to BD118 million (US$313.9 million) in 2023. The significant growth in our earnings per share also reflects our strategic focus on operational excellence and shareholder value creation.
  • Our decision to maintain a 35% dividend payout (we’ve paid in September 2024 an interim dividend of Fils 18.59 per share and a final dividend of Fils 26.58 per share will be paid in April 2025) underscores our commitment to rewarding shareholders while ensuring sufficient reinvestment in future growth opportunities. This balance between shareholder returns and reinvestment reflects Alba’s disciplined approach to financial management and long-term planning.
  • Safety remains at the heart of Alba’s operational philosophy, and this year we reached an unprecedented milestone of 29 million safe working hours without Lost Time Injury (LTI). This achievement is not only a reflection of our robust safety culture but also underscores our belief that operational excellence begins with the well-being of our workforce. By embedding safety into every aspect of our operations, we continue to strengthen Alba’s reputation as an industry leader.
  • Sustainability and Decarbonisation: Advancing our Strategic Goals Sustainability is not just a responsibility; it is a core pillar of Alba’s strategy that drives competitive advantage and futureproofing. In 2024, we made strides in contributing to Bahrain’s net-zero emissions target and aligning with global Environmental, Social, and Governance (ESG) standards.
    • Power Station 5 Block 4 Expansion: The successful commissioning of Block 4 in December 2024 represents a landmark achievement in sustainable aluminium production. By increasing PS5’s capacity from 1,800 MW to 2,481 MW, this Project will enhance Alba’s energy efficiency while setting an international benchmark by reducing greenhouse gas emissions intensity by 0.5 tonnes of CO2 per tonne of aluminium produced. This milestone demonstrates Alba’s ability to integrate sustainability into its operations while maintaining world-class production standards. Furthermore, the Project achieved over 978,000 safe working hours without LTI, reflecting our commitment to safety even in complex undertakings.
    • EternAlTM Product Line: The launch of EternAlTM, our low-carbon aluminium product range, underscores Alba’s leadership in sustainable innovation. Featuring products such as EternAl-30 and EternAl-15 -- incorporating 30% and 15% recycled scrap metal respectively -- aligns with Alba’s ambition to lead transition towards circular economy practices. By offering sustainable solutions to customers seeking environmentally responsible materials, Alba is strategically positioning itself as the supplier of choice for customers prioritising ESG compliance and sustainable sourcing.
  • These initiatives are not just environmental milestones; they are strategic investments that enhance Alba’s competitive positioning while addressing the growing demand for sustainable aluminium solutions globally.
  • We believe in a future where shareholder value and sustainable growth are not mutually exclusive, but rather, intertwined destinies.
  • Strategic Update: Focused Growth Through Strategic Autonomy As part of our commitment to strategic growth and enhancing shareholder value, Alba explored a potential business combination with segments of Ma’aden’s Aluminium Strategic Business Unit, commencing due diligence following a non-binding agreement on 16 September 2024. While this initiative held the promise of significant synergies and regional integration, after thorough evaluation and mutual discussion, Alba and Ma’aden jointly concluded on 13 January 2025, that pursuing independent growth strategies would best serve the long-term interests of our respective stakeholders.
  • Charting our Future: Discipline, Innovation and Value In closing, I express my sincere thanks and gratitude to the visionary leadership of His Majesty King Hamad Bin Isa Al Khalifa the King of the Kingdom of Bahrain and His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister. I also extend my deepest gratitude to the Governments of the Kingdom of Bahrain and the Kingdom of Saudi Arabia for their continuous support, which has been pivotal to Alba’s success and will continue to be as we pursue our strategic vision. My sincere appreciation also goes to my fellow Board members for their dynamic leadership, to our Executive Management Team for their unwavering commitment, and, most importantly, to our exceptional employees, whose dedication forms the bedrock of Alba’s achievements.
  • Looking forward, we remain steadfast in our commitment to disciplined execution and innovation, prioritising sustainability, operational excellence, and employee development to drive long-term growth and deliver exceptional value to our shareholders and all stakeholders.
  • Khalid Al Rumaihi Chairman of the Board