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Qatar Aluminium Manufacturing Company (QAMCO) reported net profit of QR276.34 million for the nine months ended 30 September 2026, down 48.2% from QR534.239 million in the corresponding 2025 period, according to its Qatar Stock Exchange disclosure published on 25 October. The reported earnings per share fell to QR0.050 from QR0.096.
The figures cover the nine-month reporting period, rather than the third quarter alone. The exchange disclosure identifies the reporting date and comparative period but the short announcement does not set out a breakdown by quarter, operating segment, production, sales, costs, or cash flow. It also does not state a reason for the year-on-year decline. No cause should be inferred from the headline figures alone.
The comparison is between the company’s reported net profit and earnings per share for the same nine-month window in two consecutive years. It does not by itself establish whether the change arose from prices, output, shipments, costs, financing, accounting items, or conditions at any joint venture. Those questions require the detailed financial statements and company commentary, which are separate from the numerical summary cited here.
QAMCO is a Qatar-listed aluminum manufacturer. The disclosure provides a snapshot of its reported financial performance through September; it does not constitute a full-year result or guidance for the remainder of 2026. The filing reports a decline in profit, while leaving the operating explanation and outlook unspecified in the published summary.
The latest nine-month notice is narrower than QAMCO’s earlier interim report. In its official H1 release on 6 August, the company reported net profit of QR219 million and EPS of QR0.039 for January–June, versus QR342 million and QR0.061 in H1 2025. It also said Qatalum’s first-half production volume was 249,000 tonnes, down 27% year on year, and sales were 154,000 tonnes, down 53%. Those production and sales figures represent 100% of the joint venture’s amounts, not QAMCO’s 50% share. QAMCO’s share of joint-venture revenue was QR932 million, down 45%, and its share of EBITDA was QR437 million, down 24%; the EBITDA margin was 47%, compared with 34% a year earlier. The realized average selling price rose 23% to US$3,556 per tonne.
QAMCO attributed the first-half profit decline to lower sales volumes amid reduced business activity during the regional conflict, saying higher average selling prices partly mitigated the impact. It also cited shipping constraints, reduced operational capacity and alternative logistics. These are management’s explanations for H1 and should not be presented as newly reported nine-month causes: the 25 October QSE summary did not include operating data or a cause analysis. The nine-month profit is cumulative through September, while the H1 metrics stop in June; subtracting them to derive Q3 operational values would require underlying unrounded statements and is not done here.
The audited 2025 annual report gives scale for the comparison: QAMCO reported full-year net profit of QR768 million and EPS of QR0.138, and disclosed that it holds a 50% interest in Qatalum, its primary-aluminium joint venture with Hydro Aluminium Qatalum Holding. That annual result is a different period, not a like-for-like nine-month comparison. Together, the dated records show a reported nine-month earnings decline against 2025, following a first half in which the company described materially lower volumes despite stronger realized prices. The current filing does not establish how the third quarter’s production, sales, costs or prices evolved.