巴林铝业 2025Q2 铝产/销量环比增长 1.5%/9.7%至 40.29/41.4 万吨，利润环比增长 36%至 6530 万美元

Investment Rating - Industry rating: Recommended [5] Core Insights - In Q2 2025, the net production of primary aluminum reached 402,900 tons, a quarter-on-quarter increase of 1.5% and year-on-year stability [2] - The sales volume of primary aluminum in Q2 2025 was 411,000 tons, reflecting a year-on-year increase of 3.4% and a quarter-on-quarter increase of 9.7% [2] - Value-added products (VAP) accounted for an average of 76% of total shipments, with a year-on-year increase of 9% [2] - The company achieved a profit of 2,460 million Bahraini Dinars (approximately 65.3 million USD) in Q2 2025, a year-on-year decrease of 64% but a quarter-on-quarter increase of 36% [3] - Total revenue from contracts with customers was 434 million Bahraini Dinars (approximately 1.155 billion USD), showing a year-on-year growth of 7% and a quarter-on-quarter growth of 6% [3] Financial Performance Summary - The comprehensive total income for Q2 2025 was 2,190 million Bahraini Dinars (approximately 58.1 million USD), a year-on-year decrease of 67% and a quarter-on-quarter increase of 30% [3] - Gross profit for Q2 2025 was 470 million Bahraini Dinars (approximately 125.1 million USD), reflecting a year-on-year decrease of 54% and a quarter-on-quarter decrease of 7% [3] - As of June 30, 2025, total assets were 2,657.9 million Bahraini Dinars (approximately 706.9 million USD), a decrease of 0.6% compared to December 31, 2024 [4]