First published: 18-Feb-2026 10:20:51

Aluminium Bahrain B.S.C. (Alba) (ticker: ALBH ), the world’s largest single-site aluminium smelter, announced a profit of BD 108.7 million (US$ 289.2 million) for the fourth quarter of 2025 , a 193.4 % year-on-year increase compared to a profit of BD 37.1 million (US$ 98.6 million) for the same period in 2024. The company reported basic and diluted earnings per share of 76 fils per share for the fourth quarter of 2025, compared to basic and diluted earnings per share of 26 fils per share for the same period in 2024 . Total comprehensive income for the fourth quarter of 2025 amounted to 107 million Bahraini dinars (US$ 284.7 million), compared to total comprehensive income of 38.1 million Bahraini dinars (US$ 101.3 million) during the fourth quarter of 2024, representing an increase of 181 % year-on-year.

For the full year 2025 , Alba reported a profit of BD 218.7 million (US$ 581.6 million), an increase of 18.5 % year-on-year, compared to a profit of BD 184.5 million (US$ 490.8 million) in 2024. The company reported basic and diluted earnings per share of 154 fils per share, compared to basic and diluted earnings per share of 130 fils per share in 2024. Total comprehensive income for the full year 2025 amounted to BD 213.2 million (US$ 567 million), an increase of 16.2 % year-on-year, compared to total comprehensive income of BD 183.4 million (US$ 487.8 million) in 2024 .

Total equity as of December 31, 2025 , amounted to BD 2,085.6 million (US$ 5,546.8 million), reflecting an 8.4 % year-on-year increase compared to BD 1,923.9 million (US$ 5,116.9 million) as of December 31, 2024. Total assets as of December 31, 2025 , stood at BD 2,623.3 million (US$ 6,976.8 million), compared to BD 2,673.4 million (US$ 7,110 million) as of December 31, 2024 – a 1.9% year-on-year decrease.

The Board of Directors of Aluminium Bahrain B.S.C. (Alba) approved, during its meeting held on Tuesday, February 17, 2026, a proposal to distribute cash dividends to shareholders registered in the company's register on the entitlement date. The final cash dividend amounts to 43.51 % of the nominal value of the share, equivalent to 43.51 fils per share, totaling BD 61,612,237 (US$ 163,862,332 ).

Key factors in the markets [based on market information and analysis]

Aluminum market dynamics: supply and demand [For more information, please see the Investor Relations presentation]

• The global economy showed resilience during 2025 with stable inflation trends, creating a supportive environment for commodities.
• US tariffs have significantly increased domestic aluminum prices, limited domestic supply, and put pressure on profit margins for manufacturing industries, while resulting in only a limited short-term increase in domestic production.
• Demand remained stable (+2% year-on-year), supported by the packaging, automotive, and electrical sectors. Most regions worldwide recorded moderate consumption growth, with the exception of North America (-3% year-on-year).
• On the supply side, global aluminum production rose 2% year-on-year, impacted by structural capacity constraints in China and a slower recovery in production in other regions. Canadian production also declined 1% year-on-year due to export adjustments driven by tariffs.
• Market balance: With Chinese production growing at a slower pace than consumption (and its production cap remaining at 45 million tons per year), the global market shows a surplus of 118,000 metric tons including China, and 229,000 metric tons excluding it.

Aluminum market prices, inventories, and higher yields

• Average prices on the London Metal Exchange (LME) reached US$2,630 per ton during 2025 (+9% year-on-year). The fourth quarter saw price fluctuations between a low of US$2,683 per ton and a high of US$2,968 per ton, driven by strong market fundamentals, investment fund inflows, and continued supply constraints.
• Regional top yields remained strong, with the US Midwest continuing its upward trend, driven by declining imports and ongoing inventory reductions. European yields also rose, fueled by improved end-user confidence and increased purchasing activity ahead of the implementation of the carbon cap adjustment mechanism. Conversely, top yields at Japan's key ports declined due to ample domestic supplies, which weighed on the overall regional outlook.
• Stocks at the London Metal Exchange fell by 20% year-on-year to 509,000 metric tons. Russian-origin products made up a significant portion of these stocks, reducing their availability to Western consumers due to sanctions and trade restrictions.

Alba's key operational performance highlights for 2025

• Sales volume reached 1,613,360 metric tons (+0.11% year-on-year) despite market challenges. Net final production increased by 0.05% year-on-year to 1,623,139 metric tons, reflecting the company's continued operational efficiency initiatives.
• The percentage of value-added sales reached 74% of total shipments, an increase of two percentage points year-on-year. Sales volume for value-added products amounted to 1,195,788 metric tons (+3.3% year-on-year).
• Key strategic initiatives:

• Achieving savings of US$67.32 million within the Digital Savings Program through the application of the simplified 6 Sigma methodology and AI-powered initiatives, exceeding the targeted savings for 2025 of US$60 million.
• Expanding the partnership with ARI Innovation to include advanced data modeling and artificial intelligence applications.
• Signing a tripartite memorandum of understanding with Shandong Innovation Group and Blue Five Capital with the aim of joint investment and exchange of knowledge and expertise.

Positive market dynamics reinforce the good outlook for aluminum [based on market information and analysis]

• Aluminum prices reached multi-year highs, buoyed by the closure of the Mozal smelter and improved copper markets. Despite a slight decline expected in 2026, prices are projected to remain strong, ranging between $2,650 and $2,750 per ton.
• Global consumption will continue to grow, driven by structural deficits in both North America and Europe, while China is experiencing new momentum as a result of growing applications for storage batteries.
• Supply disruptions are expected to continue through 2026, offsetting planned capacity increases in Asia. In China, smelter capacity remains close to the national production limit, restricting opportunities for output growth.

Alba's priorities for 2026

• In line with the Kingdom of Bahrain’s goals of achieving carbon neutrality by 2060, Alba continues to integrate and implement sustainability initiatives across all stages of the value chain – from raw material sourcing to product delivery – in order to minimize environmental impact.
• The company aims to surpass its 2025 final net production record of 1,623,139 metric tons and exceed the targeted savings of US$150 million from the 2026 Digital Savings Program.
• Alba seeks to leverage industry-leading certifications, such as those issued by the Aluminium Sustainability Initiative and Ecovadis, along with its Eternal low-carbon aluminum product line, to enter new markets and boost sales growth of value-added products.
• Alba is making progress in providing recycling solutions through the establishment of the Alba Daiki Sustainable Solutions Plant for processing aluminum slag waste, scheduled for completion in September 2026.
• The company is making progress on the feasibility study (level three) and the bankable feasibility study for the new alternative line.

Commenting on the company's performance for the fourth quarter of 2025, Alba's Chairman of the Board, Khalid Al Rumaihi, stated :

"The fourth quarter of 2025 saw the highest quarterly profit in the company's history, an achievement that reflects our unwavering commitment to delivering strong performance and creating sustainable value. Thanks to higher prices on the London Metal Exchange and the discipline of our operations, we were able to record an unprecedented level of profitability that reflects our resilience and the clarity of our strategic vision. These exceptional results have helped accelerate the repayment of the company's outstanding loans and have given us the confidence to recommend a higher final cash dividend to our shareholders."

For his part, the company's CEO, Ali Al-Baqali, added :

"The record performance we achieved in the fourth quarter of 2025 embodies the discipline, resilience and operational strength that characterize Alba. Beyond the exceptional financial results, what distinguishes this achievement is the approach we took to achieve it with integrity, responsibility and a firm commitment to continuous improvement."

I take this opportunity to thank all Alba employees and contractors for achieving 44 million safe working hours without any lost-time injuries. This achievement is a testament to your dedication and commitment to always making safety a priority.”

The company’s management intends to hold a telephone meeting on Wednesday, February 18, 2026, at 1:00 PM Bahrain time, to discuss the company’s financial and operational performance in the fourth quarter and the full year of 2025, and to determine its future strategic priorities.

About Aluminium Bahrain B.S.C. (Alba)

[Trading symbol: ALBH ]

A global leader in the aluminum industry: With an annual production exceeding 1.623 million metric tons ( 2025 ), Alba is one of the world's leading aluminum smelters, and the company is proud of its track record of excellence over more than 50 years in operations, safety, environmental responsibility, and community development.

A Trusted Partner: Alba is a cornerstone of the Kingdom of Bahrain’s economy, producing high-quality aluminum in standard and value-added products exported to more than 280 customers worldwide. With sales offices in Europe (Zurich), Asia (Singapore), and its subsidiary in the USA, Alba is a trusted global partner. Listed on both the Bahrain Bourse and the London Stock Exchange, Alba’s shareholders are Bahrain Mumtalakat Holding Company B.S.C. (Closed) (69.38%), Saudi Arabian Mining Company (Ma’aden) (20.62%), and the general public (10%). Alba adheres to the highest international standards, earning prestigious international certifications such as ISO 9001 (Quality Management), ISO 14001 (Environment), ISO 27001 (Information Security), ISO 45001 (Occupational Health and Safety), and ISO 18788 (Security Operations Management). Alba also demonstrates its commitment to responsible manufacturing through prestigious certifications such as the IATF 16949 standard (Automotive Quality Management), ISO 22301 (Business Continuity Management), as well as the Aluminium Sustainability Initiative ( ASI ) Performance Standard and Chain of Custody certifications, and the EcoVadis Platinum Sustainability rating, which places Alba among the elite 1% of companies assessed globally.

Leading the Way in Sustainability: As the first aluminum smelter in the Middle East, Alba is the heart of Bahrain’s thriving downstream aluminum sector and a major contributor to the Kingdom’s GDP. As part of its commitment to social responsibility, Alba has achieved a Bahrainization rate of 87 % ( 2024 ) of its total workforce and invests heavily in employee training and development. Furthermore, Alba plays a vital role in supporting the downstream aluminum industry, thereby enhancing the contribution of non-oil sectors to Bahrain’s GDP. For its initiatives in producing aluminum responsibly, Alba has received numerous accolades, including the Best Company in Bahrain award for Environmental, Social, and Governance (ESG) performance from ESG Invest , the SafeGuard certification for excellence in hygiene, health, and safety from Bureau Veritas , and the Corporate Governance Award from Ethical Boardroom magazine.

As a testament to its excellence in environmental practices, social contributions, and corporate governance, Alba launched a comprehensive Environmental, Social, and Governance (ESG) roadmap in 2022, focusing on six strategic priorities: 1) decarbonization, 2) clean energy and green aluminum, 3) the circular economy and downstream aluminum industry, 4) enhancing employee well-being, 5) collaboration and partnerships, and 6) transparency, communication, and compliance. Since its inception, Alba has invested in numerous environmental, sustainability, and socio-economic development projects that have had a significant positive impact on society. The company’s first-of-its-kind, US$37.5 million waste-to-energy plant, the fourth power complex at Power Station 5, and the planned solar park project, which will generate more than 6 megawatts of clean energy, are some of the company’s tangible initiatives to achieve the Kingdom’s net-zero carbon neutrality goal by 2060, under the leadership of His Royal Highness the Crown Prince, Prime Minister. Specifically, the fourth power complex at Power Station Five represents a 680.9 MW combined-cycle plant. This expansion increased the total generating capacity of Power Station Five from 1,800 MW to 2,481 MW, and also reduced greenhouse gas emissions by 0.5 tons of CO2 per ton of aluminum produced.

In a significant step towards achieving its environmental, social and governance (ESG) goals, particularly its commitment to the circular economy and secondary aluminum, Alba launched its new low-carbon aluminum product line, EternAlTM , in May 2024. This line includes two product series with diverse categories to meet various customer needs. The first series incorporates recycled aluminum content, while the second series employs certified carbon offsets achieved directly through the company’s operational efficiency improvement initiatives.

Safety First and Always: Alba’s motto, “Safety First… Safety Always,” underscores that the safety and health of employees and contractors is a top priority. The company achieved a record-breaking 44 million safe working hours without a lost-time injury in February 2026, a first in its history. Alba has a strong international track record in safety and health, having received numerous prestigious awards, including the Royal Society for the Prevention of Accidents (ROSPA) President’s Lifetime Achievement Award, the ROSPA President’s Award (for winning the Gold Award more than ten times consecutively), the International Safety Award with Merit, a 5-Star Rating from the British Safety Council, and several awards from the National Safety Council .

Alba's stakeholder engagement plan

Alba prioritizes open communication with all stakeholders, including various segments of Bahraini society and environmental and social actors. Through its stakeholder engagement plan, the company addresses the environmental and social impact of its operations and implements controls to mitigate their effects. Alba also has an external grievance mechanism, accessible through its Code of Conduct, which allows stakeholders and the general public to voice their concerns and provide feedback on any matter related to the company's operations.

Scan the QR code above to view Alba's stakeholder engagement plan

External grievance mechanism

Alba prioritizes ethical conduct and environmental responsibility. All stakeholders, including employees, contractors, and the general public, can confidentially report any potential breaches of Alba's Code of Conduct or express their concerns regarding the environmental and social impacts of the company's operations through Alba's Integrity Hotline . This independent, multilingual hotline operates 24/7, either via the toll-free number, the company's intranet, or its official website, www.albasmelter.com .

Scan the QR code above to view the external grievance mechanism.

For more details, please contact:

Eileen Hilal

Investor Relations and Insurance Manager

Phone: (973) 5100 1783

Email: eline.hilal@alba.com.bh

Website: www.albasmelter.com

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