Beyond Boundaries Beyond Limits
Annual Report 2024
BOARD OF DIRECTORS
Khalid Al Rumaihi Chairman
Shaikh Isa Bin Khalid Al Khalifa Director
Tim Murray Director
Omar Syed Director
Bruce Cox Director
Roselyne Renel Director
Omar Al Amoudi Director
Ahmed Al Duriaan Director
Jihad Hakamy Director
Hala Mufeez Director
Khalid Al Rumaihi Chairman
Shaikh Isa Bin Khalid Al Khalifa Director
Tim Murray Director
Omar Syed Director
Bruce Cox Director
Roselyne Renel Director
Omar Al Amoudi Director
Ahmed Al Duriaan Director
Jihad Hakamy Director
Hala Mufeez Director
EXECUTIVE MANAGEMENT
Ali Al Baqali Chief Executive Officer
Dr. Abdulla Habib Ahmed Chief Operations Officer
Waleed Tamimi Chief Supply Officer
Ricardo Santana Chief Finance Officer
Amin Sultan Chief Power Officer
Hisham Al Kooheji Chief Marketing Officer
Fahad Danish Chief Human Resources Officer
Ali Al Baqali Chief Executive Officer
Dr. Abdulla Habib Ahmed Chief Operations Officer
Waleed Tamimi Chief Supply Officer
Ricardo Santana Chief Finance Officer
Amin Sultan Chief Power Officer
Hisham Al Kooheji Chief Marketing Officer
Fahad Danish Chief Human Resources Officer
Chairman message
Khalid Al Rumaihi
Chairman of the Board
2024 has been a defining year for Aluminium Bahrain BSC (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.
Ceo message
Ali Al Baqali
Chief Executive Officer
The Foundation of our Success:
Over the past five decades, Alba has consistently reinforced its foundational pillars: prioritising employee well-being and workplace safety, fostering the growth of our national workforce, upholding a steadfast commitment to operational efficiency, and investing in the development of our community
VISION
To drive the aluminium industry forward through human talent and innovation from Bahrain to the world.
MISSION
Drive long-term sustainable value for all stakeholders by capitalising on the strength of our product portfolio, anchored in our enduring dedication to safety and efficiency.
Values
Safe & Green
Team
Ethics
Excellence
Resilience
2024 in review
JANUARY
Capability Building: Gearing for Growth: Alba Upskills more than 660 Employees
Strategic: Alba CEO Inaugurates Annual Majlis Sessions 2024
Operational/Strategic: Alba Announces the Appointment of New Acting CMO
Capability Building: Recognised 12 national employees with ‘Inspirational Employee of the Year’ Award
Operational: Alba Inks 10-Year Gas Supply Deal with Bapco Energies
Strategic: Alba Chairman welcomes the CEO of Bahrain Mumtalakat Holding Company
Strategic: Alba Chairman Meets with the Company’s Labour Unions’ Chairmen
FEBRUARY
ESG/Award: Celebrating Sustainability Champions
ESG: Held 2nd edition of its Sports Festival
Financial: Reporting FY and Q4 2023 Results
ESG: Alba marks Bahrain Sports Day with Walkathon
MARCH
Strategic: Signing Associate Centre Partnership Agreement with World Economic Forum
Financial: Holding AGM & EGM 2024
Strategic: Alba and EGA Sign Technology Service Agreement for Reduction Line 6
ESG: Kicking off ‘SAFE and Healthy Ramadan’ Campaign
APRIL
Award: Won Four Awards from the National Safety Council
Award: Power Station 5 Block 4 Project Achieves First Fire Milestone
Strategic: Signing Protocol with ALU and ATU
MAY
ESG: Embracing Industry 4.0 with SAP S4HANA Cloud
Award: Alba Soars to Top 1% Globally with EcoVadis Platinum Sustainability Rating
Capability Building: Enhancing National Workforce Calibre with 24 Employees Pursuing Top-Up BEng in Mechanical Engineering
Strategic/ESG: The Future is Recycled Alba’s EternAl for Global Markets
Financial: Reporting Q1 2024 Results
Capability Building: Boosting Bahraini Youths Tech Skills Alba Contributes a Robotics Unit to NVTC’s Engineering Track
JUNE
ESG/Strategic: Building Lasting Connections for Sustainability Alba’s CEO at the Arab German Business Forum
ESG: Alba Surpasses 20 Million Safe Working Hours without LTI, Reinforcing its Commitment to Safety Excellence
Capability Building: Alba and Bahrain Polytechnic Celebrate Milestone in Employee Education
JULY
Award: Alba Scoops Top Safety Honors British Safety Council Award 2024 with Merit
ESG: Prioritising Family Safety with its 2024 Summer S&H Campaign
Strategic: Secured Capral Aluminium as First Customer for Groundbreaking EternAlTM Low-Carbon Aluminium
AUGUST
Capability Building: Expanding OJT Programme to Empower Bahraini Youth
Strategic: Appointed Seasoned Finance Leader Ricardo Fontes Santana as Chief Financial Officer
Strategic: Alba and Daiki Aluminium Forge Strategic Partnership to Establish Sustainable Aluminium Dross Processing Plant in Bahrain
ESG: Alba and INJAZ Bahrain Unite to Empower Future Leaders
Financial: Reporting Q2 & H1 2024 Results
ESG/Strategic: Alba Partners with NVTC’s R&D arm to Upskill Employees with Artificial Intelligence Knowledge
SEPTEMBER
ESG: Successful Conclusion of 4th Edition of Alba’s Weight Loss Programme
Award: Alba’s VR and AR Training Applications Recognised with Brandon Hall Group Excellence Award
Strategic: Alba CEO Addresses Top Industry Concerns at Fastmarkets Conference 2024 in Athens
Financial: Alba Holds its Board Meeting for Third Quarter of 2024
ESG: Sharing Lean Six Sigma and Kaizen Knowledge with Several Bahraini Entities
OCTOBER
ESG: Prioritising the well-being of its female employees with a month-long Breast Cancer Awareness Campaign
ESG/Award: Marked dual Safety milestones - 25 Million Safe-Working Hours without LTI and 8th consecutive safe summer
Strategic: A Partnership Rooted in Sustainability Alba Renews Alumina Supply Contract with Alcoa
Award: Alba Celebrates Graduation of its First Batch of Top-Up BEng Mechanical Engineering Cohort
Operational/ Strategic: Announcing Fahad Danish as its new Chief Human Resources Officer
ESG: Hosting fun-filled day for Al Sanabel Orphan Care Society Children
NOVEMBER
Strategic: Alba and Daiki Aluminium Reiterate Commitment to Sustainable Aluminium Production
Strategic: Alba Partners with ARRAY Innovation to Accelerate Industry 4.0 Transformation
Operational/ Strategic: Welcoming Artem Tatarunis as Manager Sales Europe
Financial: Reporting Q3 & 9 Months 2024 Results
Capability Building: First batch of Alba employees graduate from Bahrain Polytechnic’s Top-Up BSc programme
DECEMBER
ESG: Celebrating Female Employees on Bahraini Women’s Day
ESG: Celebrating Bahrain’s National Day
ESG: Hosting Family Day Event for Employees
ESG: Alba Gears Up for the third edition of its Sports Festival
Strategic: Alba Partners with Comvision to Transform Inventory Management
Operational: Alba Sets New Production Record, Exceeding 1.622 million MT
We don’t just build a company; we build a legacy of learning and growth.
Fahad Danish Alba’s Chief Human Resources Officer
FINANCIAL HIGHLIGHTS
4,313
72%
130
939
1,103
5,117
491
1.17x
569
28%
Corporate Governance
Project Overview
This Statutory Corporate Governance Report covers the period 1 January 2024 to 31 December 2024 and is prepared pursuant to the Kingdom of Bahrain’s Corporate Governance Code 2022 [resolution no. (19) of 2018 and resolution no. (91) of 2022] and the Central Bank of Bahrain (CBB) Module.
Products & Markets
2024: Global Market in Focus (Demand & Supply)
The global aluminum market presented a complex picture, shaped by both macroeconomic headwinds and region-specific trends. While the global economy displayed resilience with moderating inflation....
Power Station 5 Block 4
Project Overview
Power Station 5 Block 4, featuring a 680.9 MW generating capacity at 25°C and 54.6% efficiency, was successfully commissioned and formally handed over to Alba on December 22, 2024. This advanced block comprises a Mitsubishi M701JAC gas turbine, a Hitachi steam turbine, an SPX-Air Cooled Condenser, and a XIZI HRSG, along with supporting infrastructure.
Safety and Health
Championing Safety & Health
No matter the industry or business, employee Safety & Health is a key factor in its success. Protecting an employee from work-related injuries, illnesses, and fatalities is the basic responsibility of any company. When the work environment...
Environmental, Social and Governance
ESG Highlights of 2024: Pioneering Progress, Driving Change
This Statutory Corporate Governance Report covers the period 1 January 2024 to 31 December 2024 and is prepared pursuant to the Kingdom of Bahrain’s Corporate Governance Code 2022....
Training & Development
Training & Development Journey Cultivating Potential
At Alba, we don’t just forge aluminium; we forge futures. We believe our people are the cornerstone of our leadership in the global aluminium industry, and we’re passionately committed to their continuous growth...
Corporate Social Responsibility
Alba: Building Together & Growing Together
As a cornerstone of Bahrain’s industrial heritage, Alba’s commitment to Corporate Social Responsibility (CSR) is woven into the very fabric of our operations. We believe that true success...
At Alba, SHE is the heartbeat of our daily endeavour, propelling us to the forefront as one of the world’s largest and safest smelter on one site.
Ali Al Baqali Alba’s CEO
Financial Statements (Download PDF)
Corporate Governance (Download PDF)