Qatar Aluminium Manufacturing Company (QAMCO) reported a net profit of QR276 million for the nine months ending September 30, 2026, with earnings per share amounting to QR0.050. The period was marked by ongoing regional conflict, which disrupted global commodity markets, including the aluminium industry, creating a challenging environment characterized by heightened volatility.

Despite these difficulties, aluminium demand remained robust, supported by continued activity in key sectors such as infrastructure, construction, automotive, manufacturing, and energy transition projects. This demand contributed to sustained elevated aluminium prices throughout the period, highlighting the metal’s critical role in the global industrial supply chain.

QAMCO’s joint venture (JV) experienced lower production and sales volumes compared to the same period in 2025, a decline mainly attributed to reduced operational activity resulting from shipping constraints linked to the regional conflict. These factors contributed to a year-on-year decrease in QAMCO’s share of revenue, EBITDA, and net profit.

The decline in net profit for the first nine months of 2026 was partially mitigated by higher average selling prices and lower operating costs. Reduced production volumes and decreased raw material expenses helped offset some of the adverse impacts on profitability. Additionally, QAMCO posted an improvement in net profit in the third quarter compared to the second quarter of 2026, driven primarily by increased sales volumes, although this was partially balanced by lower selling prices.

Health and safety remained a priority throughout the period, with a focus on operational excellence and asset reliability. The JV continued to operate at reduced production capacity due to ongoing regional tensions and related logistical challenges. During this period, QAMCO maintained adequate inventories of alumina and other raw materials to support current production levels. The company also utilized the downtime to perform planned maintenance activities where necessary.

QAMCO’s balance sheet as of September 30, 2026, remained strong, supported by solid cash and bank balances, including the company’s share of cash held by its JV. This liquidity position was preserved despite dividend payments related to 2025. The JV generated positive operating and free cash flows over the nine-month period, further underpinning QAMCO’s financial stability.

The company has scheduled an investor relations earnings call on October 27, 2026, to discuss its nine-month results, business outlook, and other related matters. The accompanying presentation will be made available on QAMCO’s website.