Looking for a specific product?

Make a search for products & suppliers, articles & news.

Hydro's Q3 results hit by lower prices

Aluminium producer Hydro reports that earnings before financial items and tax fell to NOK 8 million in the third quarter from NOK 549 million in the previous quarter.

Hydro says in its report that low realized alumina and aluminium prices weighed heavily on underlying results for the company's upstream operations for the quarter, while cost improvement programs proceeded with full force to meet the challenging market situation.

"Realized alumina and aluminium prices for the quarter clearly reflect market and macro-economic uncertainty, hitting our weak quarterly results. Hydro's response is to focus our attention on operational performance, portfolio management and capital discipline," Hydro's President and CEO Svein Richard Brandtzæg said.

"The planned transaction with Orkla to form the world's leading aluminium solution provider is strengthening Hydro as a world-leading, resource-rich aluminium company as well as our extusion business. Most of our extrusion markets continue to be demanding and the new company will be better positioned to meet these challenges and to capture the longer-term growth perspectives for aluminium products," Brandtzæg said.

Associated companies:


Related news

Latest news

Servogear has achieved the ISO 14001: 2015 environmental certificate

The certificate provides a framework that an organization can follow,

TechnipFMC opens 18,000m² facility to support Middle East market

The opening of the 18,000 m2 facility,

INDUSTRY 4.0 WILL CHANGE ISS

The 2017 Beerenberg seminar held earlier this year addressed the fourth industrial revolution.

The upside down advocate

The hulls of the robust Polarcirkel boats consists of resistant PE plastic,

DNV GL presents GTT and TECHNOLOG with GASA statement for exoskeleton LNG tanks

The solution has been developed for VLCVs with a capacity of 14,000 to 18,000 

DNV GL: Mix of flexibility solutions needed to stabilize power grids and avoid outages

In its recently published Energy Transition Outlook report (ETO),

Marintec China: DNV GL awards DSIC a pair of AiP certificates

Lu Xiao Hui, Vice President and Chief Technical Officer of DSIC,

DNV GL partners with SP Energy Networks to develop local flexibility market and reduce carbon emissions by over 3 megatonnes

The flexibility market will be based on the Universal Smart Energy Framework (USEF),

DNV GL Supports Hawaii Counties in Department of Energy’s Better Communities Alliance

After reviewing the competitive applications,