Arab Today, arab today alba reports q2h1 2014 results
Last Updated : GMT 09:50:52
Arab Today, arab today
Arab Today, arab today

Alba reports Q2 & H1 2014 results

Arab Today, arab today

Arab Today, arab today Alba reports Q2 & H1 2014 results

Aluminium Bahrain (Alba)
Manama - BNA

Aluminium Bahrain B.S.C. (Alba) announced the release of its second quarter and first half of 2014 results on Sunday, June27, 2014.
Q2 2014 Industry Highlights Global aluminium demand remains strong with world consumption up by 6.9% year-on-year (YoY). Asian demand was driven by China (+10% YoY) with increased infrastructure investments and higher transportation demand. North America demand up by 4.5% YoY thanks to a strong boost in automotive build rates and construction sector. MENA consumption remains healthy supported by large infrastructure spending in Saudi Arabia and Qatar; Europe consumption up by 2% YoY driven by German automotive production.
World market production rose by 6.4% YoY as compared to Q2 2013 Lower LME price and higher energy cost continue to haunt western producers leading to further closures in production Physical premiums on upward march supported by a deficit in the world excluding China The LME cash average was at US$ 1,798 metric tonnes (mt) in Q2 2014 compared to US$ 1,834 mt for the same period last year H1 2014 Alba Highlights Continued focus on Operational Excellence Continuous emphasis on Safety with the launch of Summer Safety "BLIZZARD" Campaign and the achievement of 4 million hours without Lost Time Injury (LTI) Significant uplift in physical premiums (32% YoY) thanks to a solid physical demand Alba production figures up by 2.5% YoY to reach 464,012 metric tonnes in the first half of 2014 versus 452,727 mt in H1 2013 Sales of Value-Added products represented 65% in H1 2014 of total shipments – stable performance versus H1 2013 Q2 & H1 2014 Financial Results Alba’s Total Sales for the first six months of 2014 were US$ 1.001 billion (BD 376.4 million) versus US$ 1.018 billion(BD 382.6 million) in H1 2013, on the back of higher premium partially offset by lower LME prices. Sales for the second quarter of 2014 reached US$ 515 million(BD 193.6 million) compared to US$ 520 million(BD 195.5 million)for the same period in 2013.
The company posted a Net Income of US$ 86 million (BD 32.3 million) for the first half of 2014, versus US$ 163 million (BD 61.2 million).Net Income for the second quarter of 2014 stood at US$ 41 million (BD 15.2 million) compared to US$55 million (BD 20.7 million) driven by low LME prices.
The Board has recommended an Interim Cash Dividend of 12 Fils per share, which is US$ 45 million(BD 16.9 million).
2014 Alba Priorities Continuous focus on Safety and training initiatives Deliver on Project Titan Sustainable value-added products and leverage physical premiums Increase creep up capacity with minimum capital investment Finalise gas contract structure Commenting on Q2& H1 2014 results, Alba’s Chief Executive, Tim Murray said: "Alba was able to deliver another strong operational performance and improve safety by achieving 4 million hours without an LTI. We were able to increase cash flow year over year despite lower LME by accelerating the savings on project Titan."
The Chairman of Alba’s Board of Directors, Daij Bin Salman Bin Daij Al Khalifa added: "Alba continues to improve its underlining performance and achieve sustained earnings amid tough LME market conditions. I would like to thank all the employees of Alba for the continued focus on Safety."
Alba’s Chief Executive Officer, Tim Murray, Chief Operations Officer, Isa Al-Ansari and Investor Relations Manager, Eline Hilal will be will be holding a conference call on Monday July 28 to discuss Alba’s performance for the second quarter& first half of 2014 as well as outline the company’s priorities for the remainder of this year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today alba reports q2h1 2014 results Arab Today, arab today alba reports q2h1 2014 results

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday