Norsk Hydro A S Stock Price, News & Analysis

The Norwegian Labor Union (LO) and The Confederation of Norwegian Enterprise (NHO) have resolved the labor dispute that initiated a strike on April 17. Operations at Hydro Karmøy and Hydro Årdal will return to normal, and product shipping to customers will resume. The financial impact on the company and potential delivery delays are anticipated to be minimal.

Norsk Hydro ASA has announced its Annual General Meeting (AGM) scheduled for May 10, 2023, at 10:00 CEST. The meeting will be conducted in a hybrid format, allowing shareholders to participate either in-person at the company's Oslo offices or digitally. Shareholders must register for in-person attendance by May 8, 2023, at 12:00 CEST. Digital attendance does not require enrollment, and all necessary documents for the meeting are available on the company's website. This notice complies with the disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act.

Industries affected by employee strike at Hydro Karmøy and Hydro Årdal are set to begin on April 17 due to a mediation breach involving major labor unions. The strike will progressively impact operations, with a structured plan for responsible production reduction. This gradual decrease in aluminum production will span several months, leading to delays in shipping and deliveries. Additionally, corporate accounting staff engaged with the Handel og Kontor union have also initiated a strike.

Due to reduced aluminum production, the excess energy will be redirected to the power market, potentially affecting revenue streams during this period. The outcome of the strike may influence Hydro's operational efficiency and financial stability in the short to medium term.

Hydro will release its Q1 2023 results on April 28, 2023, at 07:00 CET (01:00 EST). The quarterly report and presentation slides will be accessible on www.hydro.com. Following the results, President and CEO Hilde Merete Aasheim and CFO Pål Kildemo will host an audio webcast and conference call at 08:30 CET. Participants can join the Q&A session after the presentation. The event will not be held at Hydro's headquarters. For inquiries, contact Line Haugetraa at +4741406376 or line.haugetraa@hydro.com.

Martine Rambøl Hagen has been appointed the new Head of Investor Relations at Norsk Hydro ASA, effective May 1, 2023. She takes over from Line Haugetraa, who is transitioning to M&A Director at DNV. Rambøl Hagen previously served as Investor Relations Manager since September 2022 and has been with Hydro since 2015, holding various roles in Aluminium Metal. Her educational background includes a master’s degree in Industrial Economics and Technology Management from the Norwegian University of Science and Technology. She will report directly to Pål Kildemo, CFO.

Norsk Hydro ASA has completed a significant share buyback program from September 23, 2022, to March 10, 2023. During this period, the company bought back a total of 18,268,564 shares, with an average price of 71.97 NOK, amounting to a total transaction value of 1,314,799,953 NOK. Post-buyback, Norsk Hydro ASA now owns 34,720,967 shares, representing 1.68% of its share capital. The initiative aims to enhance shareholder value and reflects the company's confident outlook.

Norsk Hydro ASA has implemented a share-based Long-Term Incentive program for its corporate management, allowing a maximum remuneration of 30% of the annual base salary. The program relies on two performance metrics: Hydro's adjusted Return on Capital Employed (RoACE) and Total Shareholder Return (TSR) over three years. Eligibility for the payment is contingent on the company achieving a positive adjusted EBITDA in the prior year. Participants must invest their net remuneration in Hydro shares and hold them for at least three years. On March 10, 2023, various insiders received shares under this program, with a total of 77,841 shares allocated at a price of NOK 77.24 each.

Norsk Hydro ASA has completed its share buyback program, which began on September 23, 2022, and ended on March 10, 2023. During this period, the company repurchased a total of 17,399,000 shares at an average price of 71.64 NOK, resulting in a total transaction value of approximately 1.25 billion NOK. Prior to this program, Norsk Hydro owned 16,452,403 shares, and now holds 33,851,403 shares, amounting to 1.64% of its share capital. This initiative aims to enhance shareholder value and reflects the company's confidence in its financial health.

Norsk Hydro ASA has concluded its share buyback program, which commenced on September 23, 2022, and ended on March 10, 2023. Throughout the program, the company repurchased a total of 16,310,000 shares for an aggregate transaction value of 1,160,560,238 NOK, at an average price of 71.16 NOK per share. Following these transactions, Norsk Hydro now holds a total of 32,762,403 shares, representing 1.58% of its share capital. This move aims to enhance shareholder value and reflects the company's confidence in its financial stability.