Alba sales hit by Iran war but profit rises fourfold

Aluminum Bahrain (Alba) said sales volume fell in the first quarter of 2026 due to the Iran conflict, which disrupted shipping routes through the Strait of Hormuz.

However, profit attributable to equity holders rose 316 percent year on year to BD75 million ($200 million) in the quarter ended March 31, after average prices surged 22 percent per tonne, the state-backed company said in a statement.

Sales were down 17 percent year on year at 312,563 metric tonnes, driven by the “controlled and safe shutdown” of some production lines amid the war.

Net finished production declined 14 percent to 339,734 metric tonnes.

In March Alba, which runs one of the world’s largest aluminium smelters, confirmed that an Iranian attack struck its plant as it declared force majeure following the closure of the strait.

“Despite lower volumes, our portfolio remained resilient, with value-added products accounting for 71 percent of shipments – a clear demonstration of our focus on value over volume,” said chairman Khalid Al Rumaihi.

Total assets rose 7 percent to BD2.8 billion as of March 31, compared to BD2.6 billion as of December 31 last year.

Alba shares closed 1.8 percent higher at BD0.774 on the Bahrain Bourse on Tuesday.

Bahrain Mumtalakat Holding Company owns 69.38 percent of Alba, while Saudi Arabian Mining Company (Ma’aden) owns 20.62 percent.

Further reading:

• Iran war weighs on GCC aluminium output in March
• Bahrain’s finances need help from wealthier neighbours
• UAE and Bahrain aluminium plants hit in Iranian attacks