Qatar Aluminium Manufacturing Co. (QAMCO) posted a 70% drop in third-quarter net profit to QR57 million from a year earlier, as lower production and sales at its smelter joint venture outweighed higher aluminum prices.
Net profit for the first nine months of 2026 fell to QR276.34 million from QR534.24 million a year earlier, the company said in a disclosure published by Mubasher. Earnings per share declined to QR0.050 from QR0.096.
Nine-month production fell 34% to 338,000 tons, and sales volumes dropped 57% to 219,000 tons, CNBC Arabia reported.
Restrictions on shipping and regional disruption limited operations at the joint venture, according to the report.
The average realized selling price rose 27% to $3,566 a ton.
QAMCO’s share of the joint venture’s revenue fell 48% to QR1.35 billion.
Higher selling prices, lower operating costs and cheaper raw materials partly offset the impact of weaker sales on earnings.
The margin on earnings before interest, tax, depreciation and amortization (EBITDA) rose to 44% for the nine months.
QAMCO had reported first-half net profit of QR219 million.
QAMCO owns 50% of Qatalum, an aluminum smelter in Mesaieed, Qatar, operated with Norway’s Norsk Hydro.
