Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), the world's largest aluminium smelter w/o China, has reported a Profit of BD52.2 million (US$138.8 million) for the first quarter of 2021, up by 807% Year-over-Year (YoY), versus a Profit of BD5.8 million (US$15.3 million) for the same period in 2020.

The Company reported Basic and Diluted Earnings per Share of fils 37 for Q1 2021 versus Basic and Diluted Earnings per Share of fils 4 for the same period in 2020.

The Total Comprehensive Income for Q1 2021 stood at BD58.4 million (US$155.4 million) versus Total Comprehensive Loss for the first quarter of 2020 of BD1.6 million (US$4.3 million) - up by 3,539% YoY. Gross Profit for Q1 2021 was BD80.5 million (US$214 million) versus BD33.5 million (US$89.2 million) for the same period in 2020 - up by 140% YoY.

With regards to the Revenue in Q1 2021, Alba generated BD302.7 million (US$805.1 million) versus BD275.9 million (US$733.8 million) in Q1 2020 - up by 10% YoY.

Total Equity as at 31 March 2021 stood at BD1,137.5 million (US$3,025.4 million), up by 5%, versus BD1,079.5 million (US$2,871.1 million) as at 31 December 2020. Alba's Total Assets as at 31 March 2021 were BD2,435.5 million (US$6,477.4 million) versus BD2,353.7 million (US$6,259.8 million) as at 31 December 2020 - up by 3%.

Alba's top-line were driven in the first quarter of 2021 by higher LME prices (+24% YoY) and partially offset by lower Sales' volume (a drop of 6% YoY) while the bottom-line was driven by higher top-line and partially impacted by higher depreciation as well as higher General and Selling Expenses.

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