Doha: Qatar Aluminum Manufacturing Company (QAMCO), a 50% joint venture partner in Qatar Aluminum Company (Qatalum), yesterday reported a net profit of QR534m for the nine-month period ended 30September 2025, with improved earnings per share (EPS) of QR0.096 compared to 0.077 in third quarter of 2024.
Throughout the first nine months of 2025, the aluminum market has shown signs of shifting from long-standing surplus conditions toward a more balanced, or potentially towards tighter supply-demand conditions.
China’s production growth, the dominant force for over a decade, has slowed due to policy constraints and capacity limits, while inventories globally have gradually declined. This has reduced the supply cushion that previously characterized the sector.
Moderate capacity growth and lower stock levels have created a more stable market backdrop, offering producers some relief after years of margin pressure.
Structural demand trends in the energy transition sector tied to electric vehicles and renewable energy continue to support the market, helping to sustain underlying consumption despite uneven industrial output across regions. At the same time, cost pressures, volatility in alumina and energy prices, coupled with softer global manufacturing indicators and ongoing geopolitical and trade uncertainties, continue to influence sentiment around aluminum prices throughout 2025.
QAMCO reported a solid year-on-year increase in net profit for 9M-2025, primarily driven by stronger revenues supported by improved selling prices and a marginal increase in sales volumes.
A reduction in finance costs further contributed to the company’s profitability. QAMCO’s share of revenue from its joint venture (JV) increased during the period, reflecting favorable prices.
Additionally, its share of EBITDA improved, on the back of solid and stable EBITDA margins, highlighting the resilience of its operational performance.
In the nine-month period of 2025, QAMCO delivered robust financial results, supported by favorable pricing dynamics and a marginal increase in sales volumes.
These factors collectively offset the rise in operating costs, which were primarily driven by higher alumina prices. QAMCO will host an IR earnings call with investors to discuss its results for 9M-2025, business outlook and other matters, on Sunday, November 2, 2025 at 1:30p.m. Doha time.
