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Alba’s top line was driven in by higher LME prices and partially offset by lower sales volume
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The bottom line for Q2 and H1 2021 was driven by higher top line and partially impacted by higher selling and distribution expenses
Aluminium Bahrain, also known as Alba, was quoted by local reports as saying that it posted a profit of BD92.6 million ($246.2 million) for the second quarter of 2021.
This, the company said, was a rise of 665% in year-on-year profit, versus a loss of BD16.4 million ($43.6 million) for the same period in 2020.
The company reported basic and diluted earnings per share of 65 fils (around $0.17) for Q2 2021 versus loss per share of 12 fils (around $0.03) for the same period in 2020.
The total comprehensive income for Q2 2021 stood at BD90.6 million ($241.1 million) versus a loss for the second quarter of 2020 of BD18.2 million ($48.4 million) — up by 598% YoY.
Gross profit for Q2 2021 was BD123.7 million ($328.9 million) versus BD21.6 million ($57.6 million) for the same period in 2020 — up by 471% YoY.
As for revenue in Q2 2021, Alba generated BD370 million ($984 million) versus BD244 million ($649.1 million) in Q2 2020 — up by 52% YoY.
For the first half of 2021, Alba reported a profit of BD144.8 million ($385 million), up by 1,461% YoY versus a loss of BD10.6 million ($28.3 million) for the same period in 2020. The company reported basic and diluted earnings per share of 102 fils (around $0.27) for first half of 2021 versus basic and diluted loss per share of 8 fils ($0.02) for the same period in 2020.
Alba’s total comprehensive income for H1 2021 was BD149.1 million ($396.5 million), up 852% YoY, compared to a total comprehensive loss of BD19.8 million ($52.7 million) in H1 2020.
Gross profit for the first half of 2021 was BD204.2 million ($543 million) versus BD55.2 million ($146.8 million) in H1 2020, up by 270% YoY.
Alba generated in H1 2021 revenue of BD672.7 million ($1,789 million) versus BD520 million ($1,383 million) in H1 2020 — up by 29% YoY.
Alba’s top line was reportedly 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).
The bottom line for Q2 and H1 2021 was driven by higher top line and partially impacted by higher selling and distribution expenses, the company said.