Home > News > Bahrain

Alba posts 54% fall in net income in 2012

Tuesday, Feb 19, 2013
点击:

Aluminium Bahrain (Alba) posted a 54% dip in net income in 2012, as a result of lower London Metal Exchange aluminium prices and higher energy costs, the company said last week.


Alba’s net income was $257 million in 2012 compared with $564 million in 2011, on sales that fell 16% to $1.98 billion.


Average LME prices reached $2,019 per tonne in 2012 from $2,349 per tonne in 2011 – a fall of 14%.


“Despite tough LME market conditions, Alba’s resilient business model has enabled the company to achieve a healthy financial performance in 2012, thanks to the sustained focus on operational excellence and the support of our dedicated workforce,” ceo Tim Murray said in a statement.


To combat low prices and high energy costs, Alba’s focus in 2013 will be on leveraging the high physical premiums in its 2013 supply contracts and finalising long-term contracts to secure gas and power.


The company will also maintain its drive to boost value-added product sales, which reached 65% of total sales in 2012 from 62% in 2011, as total sales volumes edged down to 890,291 tonnes in 2012 from 893,020 tonnes in 2011.

Recommended exhibitions

16TH ARAB INTERNATIONAL ALUMINIUM CONFERENCE
  ARABAL, which is being organized and hosted by Qatalum, is the premier trade event for the Middle East's aluminium i......
Aluminium 2012
  ALUMINIUM is the leading B2B platform in the world for the aluminium industry and its main applications. This is whe......
The 4th edition of Zak Aluminum Extrusions Expo
 Date

  14th - 16th December 2012

  Venue

  Pragati Maidan,

  New Delhi,India.

  Exhibition Timings

 ......
ALUMINIUM DUBAI 2011
Name:ALUMINIUM DUBAI 2011
Time:2011-5-9 to 2011-5-11
Place:Dubai International Convention & Exhibition Centre, Dubai, UAE......