Qatar Aluminum (Qatalum) has reported 10.72% year-on-year jump in total revenues to $0.74bn during the six-month ended June 30, 2018 with Asia and Middle East and North Africa (Mena) contributing 57%.
Earnings before interest taxes depreciation and amortisation (Ebitda) stood $0.28bn with an Ebitda margin of 39% at the end of June 30, 2018, said the initial public offering (IPO) prospectus of Qatar Aluminum Manufacturing Company (Qamco).
The Asia and Mena regions’ revenue accounted for $0.42bn; North America $0.15bn or 21%, Europe $0.14bn or 20% and Qatar $0.03bn or 3%, it said.
Qatalum has more than 378 different customers in over 45 countries.
Revenues from Asia and Mena reported an 8.8% increase, Europe 26.36%, Qatar 36.92% and North America 0.39%.
Qatalum had a design nameplate capacity of 575,000 tpy (tonnes per year) but now produces more than 650,000 tpy of high-quality primary aluminium products, including standard ingots and casthouse value-added products comprising extrusion ingots or billets (capacity of 350,000 tpy) and primary foundry alloys (capacity of 275,000 tpy).
The project includes a captive power plant (with capacity of approximately 1,350 MW) and the aluminium plant (comprising the reduction plant, carbon plant, anode service plant, reduction plant and the casthouse) as well as fume treatment, port and storage facilities.
Pursuant to the marketing and offtake agreement, Hydro Aluminum is responsible for the offtake and marketing of 100% of Qatalum’s production for 25 years (commencing December 18, 2009).
The marketing and offtake agreement gives Qatalum access to Hydro Aluminum’s worldwide sales network on no less favourable treatment than other Hydro Aluminum smelters and Hydro Aluminum is obliged to undertake sales with the objective of maximising Qatalum’s net premium revenue.
Qatalum acts as Hydro Aluminum’s representative for marketing aluminium products in Qatar.
The price of Qatalum’s products largely depends on the primary aluminium price set on the London Metal Exchange and product premiums, which are negotiated with individual customers. Qatalum’s first million tonnes of metal was distributed by September 2012.
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