Qatar Aluminium Manufacturing Company · QSE:QAMC
Qatar Aluminium Manufacturing — Q3 2026 Earnings Presentation
26 slides from Qatar Aluminium Manufacturing's earnings presentation, Sep 30, 2026
Slide 1: Qatar Aluminium Manufacturing Company Investor Relations Presentation
Qatar Aluminium Manufacturing Company Investor Relations Presentation 30 September 2026
Slide 2: Disclaimer
Disclaimer The company in which Qatar Aluminium Manufacturing Company Q.P.S.C. directly owns investment is a separate entity. In this presentation, “QAMCO” and “the Company” are sometimes used for convenience in reference to Qatar Aluminium Manufacturing Company Q.P.S.C. This presentation may contai
Slide 3: Table of Content
Table of Content 1. QAMCO at a glance 2. Ownership structure 3. Operations of joint venture 4. Competitive strengths 5. QAMCO results (for the period ended 30 September 2026) 6. Market statistics and dividend distribution 7. Historical performance (2021-2025) 8. Governance structure 3 QAMCO, IR Pres
Slide 4: QAMCO at a glance
QAMCO at a glance 4
Slide 5: QAMCO at a glance: Overview
QAMCO at a glance Overview • Qatar Aluminium Manufacturing Company • QatarEnergy provides all of the head office Q.P.S.C (QAMCO) was incorporated on functions for QAMCO through a December 3, 2018 and listed on Qatar Stock comprehensive service-level agreement. Exchange on December 16, 2018. • The op
Slide 6: Ownership structure
Ownership structure 6
Slide 7: Ownership structure
Ownership structure QatarEnergy Public (51%) (49%) QAMCO Qatalum Joint Venture (50%) QAMCO holds a 50% share of Qatar Aluminium Limited (“Qatalum” or “QAMCO JV” or “JV”) as a joint venture shareholder, which produces approximately 670,000 tons per year (“MT PA”) of high-quality aluminium for custome
Slide 8: Operations of joint venture
Operations of joint venture 8
Slide 9: QAMCO's Joint Venture
QAMCO’s Joint Venture • Qatar Aluminium (Qatalum) operates a fully integrated aluminum production facility in Qatar, leveraging competitively priced energy to maintain strong profit margins and cash flow. • The plant comprises a Reduction Plant, Carbon Plant, Casthouse, a captive power plant (approx
Slide 10: Competitive strengths
Competitive strengths 10
Slide 11: Competitive strengths
Competitive strengths State of the art production facility and technology deployed Low cost Assured feedstock supply and competitively priced energy smelter High focus on Health, Safety, and Environment Proven Positive share of operating profit and competitive EBITDA margins from JV financia
Slide 12: QAMCO results
QAMCO results (for the period ended 30 September 2026) 12
Slide 13: 9M-26 Results - At a glance vs. 9M-25
9M-26 Results - At a glance vs. 9M-25 Net Revenue -48% EBITDA -32% profit -48% QR 1,353 million (1) QR 602 million (1) QR 276 million Sales EBITDA Volumes -57% Margin +10pp EPS 9M-25 QR 0.096 219 KMT (2) 44% QR 0.050 For the nine-month period ending 30 September 2026, the JV recorded lower productio
Slide 14: Operational performance review
Operational performance review Production (MT’ 000) (1) • 9M-26 vs 9M-25: Production volumes were lower compared to prior year as a result of the current reduced production levels. • 3Q-26 vs 2Q-26: Production was slightly lower compared to the previous quarter. Operating conditions remained broadly
Slide 15: Financial performance review
Financial performance review Share of Revenue (QR million) Net Profit (QR million) • 9M-26 vs 9M-25: Share of JV revenue declined year • 9M-26 vs 9M-25: Net profit also decreased on a year-on- on year, driven by lower sales volumes due to year basis, due to lower revenues that were only partially lo
Slide 16: Net profit variance analysis: 9M-26 vs 9M-25
Net profit variance analysis: 9M-26 vs 9M-25 QAMCO reported lower net profit compared to the corresponding period in 2025. Results were driven by the JV’s performance mainly due to: • Favorable movements a) Higher average realized prices; b) Lower OPEX, mainly resulting from lower cost of raw materi
Slide 17: Net profit variance analysis: Q3-26 vs Q2-26
Net profit variance analysis: Q3-26 vs Q2-26 QAMCO reported higher net profit compared to the previous quarter. Results were driven by the JV’s performance, mainly due to: • Favorable movements a) Higher sales volumes. • Unfavorable movements a) Marginally lower sales prices; b) Higher OPEX, mainly
Slide 18: Analysis of EBITDA margins
Analysis of EBITDA margins EBITDA margins have remained resilient despite recent disruption to operations and production 4,500 70% 65% 4,000 60% Primary Aluminium Price (USD / MT) QAMCO's JV EBITDA margin (%) 3,500 55% 3,000 50% 45% 2,500 40% 2,000 35% 1,500 30% 1,000 25% Aluminium Price QAMCO's JV
Slide 19: Market statistics and dividend distribution
Market statistics and dividend distribution 19
Slide 20: Market statistics and dividends
Market statistics and dividends Market Cap (QR bn) 16.0 14.0 12.0 QR 7.32 bn 10.0 8.0 6.0 4.0 2.0 0.0 Dividend distribution since incorporation 2019 2020 2021 2022 2023 2024 1H-2025 2H-2025 QR 167 m QR 195 m QR 446 m QR 502 m QR 391 m QR 446 m QR 240 m QR 318 m QR 0.03 QR 0.035 QR 0.08 QR 0.09 QR 0.
Slide 21: Historical performance 2021-2025
Historical performance 2021-2025 21
Slide 22: Key performance indicators
Key performance indicators Production (MT’000) – 100% Sales Volumes (MT’000) – 100% Selling Prices ($ / MT) 666 • 2025 production remained highest since QAMCO’s incorporation • 2025 recorded the highest sales volumes since inception • Average selling prices remained strong by 2025 year-end, despite
Slide 23: Governance structure
Governance structure 23
Slide 24: Governance structure
Governance structure Board structure Board committees • QAMCO Board of Directors consists of six (6) • The Board of Directors established Board Directors, all were appointed by the Special Committees and Special Committees to carry out Shareholder “QatarEnergy”. specific tasks. The Board remains lia
Slide 25: Governance structure (continued)
Governance structure (continued) Remuneration - Board of Directors Shareholders’ rights • The Company has developed a periodically revisited • The Company’s Articles of Associations provide for remuneration policy for Board members. The policy the rights of shareholders, particularly the rights to h
Slide 26: For further information, Qatar Aluminium Manufacturing Company can be contacted
For further information, Qatar Aluminium Manufacturing Company can be contacted as follows: Telephone: (+974) 4013 2277 Fax: (+974) 4013 9750 E-mail: [email protected] Address: P. O. Box 3212, Doha, State of Qatar. Please refer to www.qamco.com.qa for the latest information, publications, press r
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