Alba reports soaring profits in second-quarter, half-year results

• Top-line driven by higher London Metal Exchange prices, despite flat sales volumes
• Results affected by higher costs and rising distribution expenses
• Weak economic activity, higher inflation and rising interest rates have had a negative impact on consumer demand
• Macro-economic factors continue to pressure markets, resulting in unclear direction and price trends
• Company aims to exceed 2022 production target of 1,560,000 tonnes.
• Value-added sales averaged 67% of total shipments in the first half of 2022, compared with 64% in the same period of 2021.

Second quarter (April-June) 2022

(year-on-year change)

Profit
$483.9 million, up by 97% year-on-year from $246.2 million.

Total comprehensive Income
$536.9 million, up 123% year on year from $241.1 million.

Gross profit
$553.2 million, up by 68% year on year from $328.9 million.

Revenue
$1.38 billion, up by 41% year on year from $984 million.

First half (January-June) 2022

(year-on-year change)

Profit
$874.3 million, up by 127% year on year from $385.1 million.

Total comprehensive income
$951.8 million, up by 140% year on year, from $396.5 million.

Gross profit
$1.03 billion, up 89% year on year from 543.0 million.

Revenue
$2.59 billion, up by 45% year on year from $1.78 billion.

First-half production
787,592 tonnes, up by 1.7% year on year.

First-half sales volumes
742,658 metric tonnes, flat year on year.

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