Alba releases full year and fourth quarter 2011 results

Aluminium Bahrain B.S.C. (Alba) released its full year and fourth quarter 2011 results during a meeting of the company’s Board of Directors on Thursday, February 16, 2011 at the Ritz Carlton Hotel Bahrain. Commenting on the full-year results, Alba’s Chief Executive, Laurent Schmitt said: “Alba’s sound financial performance for 2011 was underpinned by sustained growth, enhanced productivity and higher profits thanks to our Continuous Improvement Program which was ahead of our target. Despite the social challenges faced in early 2011 coupled with some exceptional one-time costs as well as the decline of LME prices in the latter quarter of the year, Alba showed strong resilience reflected in its healthy financial performance and strong EBITDA levels. Looking ahead, Alba remains committed to future growth through pro-active initiatives that build upon developing a culture of Continuous Improvement, commitment to Operational Efficiency and Global Competitiveness.” The Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji added: "Alba is a success story not only because of the positive results achieved in 2011 but more for the strong fundamentals the company has in place that made this growth possible. This achievement was made possible thanks to the efficiency of the Management team and the loyalty of Alba’s workforce in meeting goals despite the prevailing challenges. Furthermore, distributing a cash dividend endorses Alba’s strong business model which continuously deliver returns to its shareholders.” Alba's Chief Executive, Laurent Schmitt, Chief Financial Officer, Tim Murray and Investor & Public Relations Manager, Eline Hilal will be holding a series of meetings with investors in Bahrain, Dubai and London. They will be making a presentation on the full year and fourth quarter results, discuss Alba's performance in 2011 as well as outline the company's priorities and plans for 2012.