Norsk Hydro Asa (GB:0Q11) has released an update.
Norsk Hydro Asa’s adjusted EBITDA decreased in Q2 2024 to NOK 5,839 million, impacted by lower volumes and higher costs, but partly offset by higher alumina prices and reduced raw material costs. The company is responding to weak downstream demand with cost-saving measures and has invested in new technology to meet the demand for low-carbon aluminium products. Strategic partnerships and ventures, particularly in renewable energy and with Porsche for low-carbon aluminium supply, are key to Hydro’s long-term value creation and market positioning.
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