Aluminium Bahrain B.s.c · BAHRAIN:ALBH
Aluminium Bahrain B.s.c — Q1 2025 Earnings Presentation
30 slides from Aluminium Bahrain B.s.c's earnings presentation, May 2025
Slide 1: Investor Relations Presentation Q1 2025
INVESTOR RELATIONS PRESENTATION Q1 2025
Slide 2: Disclaimer
DISCLAIMER This document has been prepared and issued by and is the sole responsibility of Aluminium Bahrain B.S.C. (the “Company”). The document is being supplied to you solely for your information and for use at the Company’s presentation. No information made available to you in connection with th
Slide 3: Contents
CONTENTS 01 02 03 Market Alba Q1 2025 Fundamentals Highlights Results 04 05 06 Industry Perspectives 2025 Alba Appendix in 2025 Priorities Page 3
Slide 4: Market Fundamentals
01 MARKET FUNDAMENTALS1 1 Market Fundamentals are based on CRU Market Intel & Others Page 4
Slide 5: World Market Demand +2% YoY
World Market Demand +2% YoY Global Economy: Started the year with positive momentum, showing continued growth in commodity demand and signs of easing inflation across major economies. However, the future impact of tariffs on commodity markets remains uncertain Tariffs: Increased market uncertainty h
Slide 6: World Market Supply +1% YoY
World Market Supply +1% YoY Global aluminium supply market growth was very limited. While some smelters were ramping-up production, these increases were largely offset by the impact of closures that took place at the end of last year China: Supply rose by a modest 1% YoY as it’s nearing its self-imp
Slide 7: LME Price & Premium Trends
LME Price & Premium Trends LME Price: Averaged US$2,629/t in Q1 2025 (+20% YoY). Prices fluctuated between a low of US$2,474/t on 8 January and a high of US$2,737/t on 12 March. LME prices were supported by low global inventories and modest supply growth. However, towards the end of Q1, LME prices s
Slide 8: Alumina Price: 28% of LME Price
Alumina Price: 28% of LME Price [US$744/t] LME Price Trend (US$/t) 2,573 2,629 2,600 2,519 2,383 2,200 2,200 1,800 429/t 1,400 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Alumina Price Index Trend (% of LME) 31% 28% 28% 25% 382/t 21% 22% 20% 19% 16% 16% 16% 13% 10% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 202
Slide 9: Alba Highlights
02 ALBA HIGHLIGHTS1 1 Alba Highlights relate to Alba official news made public Page 9
Slide 10: Safety Share
Safety Share 60 59 49 50 40 34 35 32 30 20 20 12 12 11 10 9 9 Achieved on 08 May 2025 4 0 0 0 1 0 1 1 0 0 2019 2020 2021 2022 2023 2024 Q1 2025 Total Injuries Recordable Injuries Lost Time Injuries Page 10
Slide 11: Alba Celebrates ESG Achievements and Plans Future Course
Alba Celebrates ESG Achievements and Plans Future Course Safety First, Safety Always Alba wins six National Safety Council Awards for 2025 Honoured with Prestigious RoSPA Life President Award for Unparalleled Safety Excellence Launched plant-wide Safety and Health Campaign ‘Be an Albawee in Ramadan’
Slide 12: CEO 2025 Objectives
alga Aluminium for the world CEO 2025 Objectives TAPPING INTO e-AL HASSALAH ALBA’S OPEN Sr Ne =:
Slide 13: ESG Journey by 2035
ESG Journey by 2035 Decarbonisation Green Energy & Aluminium Circular Economy & Secondary Aluminium Employee Welfare Collaboration & Partnership Transparency, Communications & Due Diligence Q2 2024 Q4 2024 Q2 2027* 2025-2027 2030 Alba Solar Efficiency Upgrades Recycled Government Farm Material Colla
Slide 14: Major Operational Highlights
Major Operational Highlights Despite market challenges, sales volume reached e-Al Hassalah (US$ Million) a healthy 374,809 MT, up by 3% YoY 160 Net Finished Production dipped slightly by 2% YoY to reach 396,866 MT 150 Value Added Sales (VAP) averaged 71% of total 120 shipments, marking an increase o
Slide 15: Financial Key Performance Indicators – Q1 2025
Financial Key Performance Indicators – Q1 2025 EBITDA down due to spike in Cash Flow impacted by working alumina Prices capital adjustments and payouts to shareholders US$177 million down by US$48 million down by US$ (97) million down 2% YoY 26% YoY by 196% YoY Net Income driven by lower EBITDA Page
Slide 16: Q1 2025 Results
03 Q1 2025 RESULTS Refer to Alba’s Q1 2025 Interim Condensed Consolidated Financial Statements Page 16
Slide 17: Beyond Supply & Demand: Metal Sales Bridge
Beyond Supply & Demand: The Geopolitical Hand in the Aluminium Market Triple Boost: LME Price, Premiums and Volume Drive Higher Metal Sales Metal Sales’ Bridge (US$M) – Q1 2025 vs Q1 2024 1,200 32 28 1,000 150 800 600 by 38% YoY in Premium 1,088 878 by 20% YoY 400 in LME Price 200 0 Metal Sales LME
Slide 18: Beyond Supply & Demand: Sales by Product-Line
Beyond Supply & Demand: The Geopolitical Hand in the Aluminium Market Higher VAP │ Higher Liquid Metal │ Lower Commodities’ Volume Q1 2025 vs Q1 2024 Premium Above LME Trend US$/MT Sales by Product-Line Bridge (MT’000) 390 5 370 13 6 350 350 330 38% 250 310 363 375 311 290 150 226 270 250 50 Sales V
Slide 19: Beyond Supply & Demand: Direct Cost Bridge
Beyond Supply & Demand: The Geopolitical Hand in the Aluminium Market Sharp Increase in Alumina Prices Drives Up Production Costs Q1 2025 vs Q1 2024 - Direct Cost Bridge (US$M) 1,000 7 7 7 12 4 14 800 246 600 875 400 680 200 0 - Direct Cost Major RM Major RM Energy Other Alumina Inventory Others Dir
Slide 20: Beyond Supply & Demand: EBITDA Bridge
Beyond Supply & Demand: The Geopolitical Hand in the Aluminium Market Lower EBITDA Driven by Higher Costs & Partially Offset by Higher Metal Sales Q1 2025 vs Q1 2024 - EBITDA Bridge (US$M) 400 12 300 210 195 EBITDA 20% EBITDA 16% 200 6 180 177 100 EBITDA Metal Other Direct Selling EBITDA Q1 2024 Sal
Slide 21: Cash Flow Bridge FY 2024 to Q1 2025
Beyond Supply & Demand: The Geopolitical Hand in the Aluminium Market Cash Flow Bridge FY 2024 to Q1 2025 FY 2024 to Q1 2025 Cash Flow Bridge (US$M) Free Cash Flow (US$M) 600 500 150 76 400 179 100 127 50 101 300 73 91 100 0 200 303 -50 -97 100 197 -100 0 -150 Cash CF Pricing WC Capital Financing Pa
Slide 22: Key Financial Indicators Q1 2025
Key Financial Indicators Q1 2025 Particulars Q1 2025 Q1 2024 Variance (%) Revenue1 (US$M) 1,088 890 22% EBITDA (US$M) 177 180 2% EBITDA% 16% 20% Profit (US$M) 48 65 26% Gain/(Loss) Unrealised 200% (1) 1 Derivatives (US$M) Adjusted Profit2 (US$M) 49 64 23% AVG Cash LME (US$/MT) 2,629 2,200 20% AVG Al
Slide 23: Industry Perspectives in 2025
04 INDUSTRY PERSPECTIVES1 IN 2025 1 Industry Perspectives are based on CRU Market Intel & Others Page 23
Slide 24: Aluminium Market: Trade Turbulence Casts Shadow Over Short-Term Outlook
Aluminium Market: Trade Turbulence Casts Shadow Over Short-Term Outlook Market Uncertainty Persists: LME prices dropped rapidly by Q1-end 2025 due to strengthening US dollar and growing concerns about near-term economic activity as trade tensions escalated. Trump's tariffs and the US dollar were key
Slide 25: Feedstock Trends (Al₂O₃, AlF3 and GPC)
Feedstock Trends (Al₂O₃, AlF3 and GPC) Alumina Market: While prices decreased in Q1 2025 due to improved liquidity driven by Chinese refinery ramp-ups and normalised production outside China, prices are expected to remain stable in the short term Carbon Market: Carbon product prices (GPC, CPC, and A
Slide 26: 2025 Alba Priorities
05 2025 ALBA PRIORITIES Based on Alba’s 5-Year Strategic Initiatives Page 26
Slide 27: Alba: Safe, Sustainable, Successful
Alba: Safe, Sustainable, Successful Leading the Way: Safety First, Sustainability Always Aligned with Bahrain’s 2060 vision of net-zero emissions, Alba embeds sustainability from raw material sourcing to product delivery, minimising environmental footprint Operational Excellence and Growth Exceed 20
Slide 28: Appendix
06 APPENDIX Page 28
Slide 29: Alba Shareholders' Structure
Alba Shareholders’ Structure 20.62% (since 19 Feb’25) 69.38% Free Float 10% (since 23 Nov’10) Alba Ticker [BHB: ALBH, BD1.120 on 31 Mar’ 2025] Page 29
Slide 30: For more information, please contact us
For more information, please contact us on: IR@alba.com.bh InvestorRelations@alba.com.bh Alba4World Alba4World user/Alba4World Alba4World Page 30
Aluminium Bahrain B.S.C. — Q1 2025 Earnings Presentation on 6ix