Correction: Norsk Hydro: Strong upstream results, building downstream robustness
NORSK HYDRO A S ADS (NHYDY)
NASDAQ:AMEX Investor Relations:
hydro.com/en/investor-relations
Company Research
Source: GlobeNewswire
Correction is made to the quarterly results release made on October 24, 2024. The correction is related to adjusted RoaCE wrongly stated as 8.5 percent. The correct number is 7.2 percent. Hydro’s adjusted EBITDA for the third quarter of 2024 was NOK 7,367 million, up from NOK 3,899 million in the same quarter last year, positively impacted by higher aluminium and alumina prices, lower raw material costs and positive currency effects. This was partly offset by lower recycling margins, Extrusions volumes and Energy prices resulting in an adjusted RoaCE of 7.2 percent over the last twelve months and free cash flow of NOK 1.7 billion. Solid upstream results from increasing alumina and aluminium prices2024 improvement programs on track, Extrusions building robustness in weaker core marketsEnergy executing on renewable ambitions with Illvatn pumped storage projectReducing ownership from 30 to 19.9 percent and impairing NOK 956 million investments in Vianode
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