Bahrain Aluminum's operating income in the first half of 2020 is 1.383 billion US dollars
2020-07-28
Bahrain Aluminum released its second-quarter and first-half performance reports that during the reporting period, the impact of the low LME aluminum price was partially offset by the positive performance of rising sales.
In the second quarter, the company made a net profit of 21.6 million Bahraini dinars (57.6 million U.S. dollars), an increase of 41% from the 15.4 million dinars (40.9 million U.S. dollars) in the same period last year. In the first half of the year, the company made a cumulative net profit of 55.2 million dinars (US$146.8 million), a 241% increase from 16.2 million dinars (US$43.2 million) in the same period last year.
Bahrain Aluminum’s contract revenue from customers in the second quarter was 244 million dinars (US$649 million), a slight decrease of 0.4% from the 245 million dinars (US$651.8 million) in the same period last year. In the first half of the year, Bahrain Aluminum received a total of 519.9 million dinars ($1.3829 million) tons of contract revenue, an increase of 16% from the 448.6 million dinars ($1.193 billion) in the same period last year.
According to Nonferrous Metals, in the second quarter, Bahrain Aluminum’s sales volume was 390,750 tons, a year-on-year increase of 25%, and its output was 378,558 tons, a year-on-year increase of 24%. Sales of value-added products accounted for 34% of total shipments.
2020 Bahrain's aluminum production target is 1.54 million tons.
(Chat Online)
