Welcome to our dedicated page for Norsk Hydro A S news (Ticker: NHYDY), a resource for investors and traders seeking the latest updates and insights on Norsk Hydro A S stock.
NORSK HYDRO A S (NHYDY) generates frequent news flow through its detailed stock exchange announcements, quarterly reports and strategic updates. The company’s news covers its aluminium value chain, energy activities and its stated ambition to pioneer a green aluminium transition powered by renewable energy. Readers of this page can follow how the company responds to uncertain markets, adjusts capital allocation and executes on long-term improvement programs.
Recent news has highlighted performance in business areas such as Bauxite & Alumina, Energy, Aluminium Metal, Metal Markets, Extrusions and Recycling. Updates include adjusted EBITDA developments, free cash flow, net debt movements and return on capital employed, along with commentary on global alumina and aluminium markets, Nordic power prices and regional extrusion demand in Europe and North America.
Company announcements also describe strategic initiatives, including a NOK 6.5 billion improvement program toward 2030, a strategic workforce and cost reduction program targeting approximately 750 white collar positions, and capital expenditure guidance changes to preserve financial flexibility. News items detail the proposed closure of five European extrusion plants, the ramp-up of recycling capacity and the company’s focus on greener products and circular aluminium solutions.
Energy-related news includes the Illvatn pumped storage power plant investment in Norway, long-term power agreements for the Alouette smelter in Québec and the voluntary termination of a Swedish wind power purchase agreement with Cloud Snurran AB. Visitors to this page can review these announcements to understand how NORSK HYDRO A S manages its power portfolio, supports low‑carbon aluminium production and navigates legal, regulatory and market developments over time.
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Hydro has entered into a strategic partnership with Glencore in Brazil, agreeing to sell 30 percent of its Alunorte alumina refinery and its stake in bauxite producer Mineração Rio do Norte (MRN) to Glencore. The company will provide more details about these transactions during a conference call scheduled for April 27 at 08:30 CEST (06:30 GMT), hosted by President and CEO Hilde Merete Aasheim and CFO Pål Kildemo. This partnership aims to enhance operational efficiency and strengthen Hydro's market position in the alumina sector.
Hydro has entered an agreement with Glencore for the acquisition of a 30% stake in the Brazilian alumina refinery, Hydro Alunorte, along with Hydro's 5% stake in Mineracão Rio do Norte (MRN). Glencore will also buy an additional 40% stake in MRN from Vale, leading Hydro to exit its ownership in MRN completely.
Post-transaction, Hydro will maintain a 62% ownership in Alunorte, which continues as a strategic asset for low-carbon alumina supply. The total net enterprise value for these transactions is estimated at USD 1.11 billion, with a net debt adjustment of USD 335 million as of March 31, 2023. The deal is subject to regulatory approval and expected to close in the second half of 2023.
Hydro will use proceeds for strategic growth and shareholder distributions while continuing to develop Alunorte towards a lower carbon emissions profile.
On April 20, 2023, primary insiders in Norsk Hydro ASA acquired shares as part of the company's employee share purchase scheme in Norway. The shares were purchased at a price of NOK 77.24 each before discounts.
The following primary insiders participated:
- Hilde Merete Aasheim, President & CEO: 388 shares, New holding: 141,292
- Arvid Moss, EVP, Hydro Energy: 388 shares, New holding: 184,357
- Eivind Kallevik, EVP, Hydro Aluminium Metal: 388 shares, New holding: 85,382
- Hilde Vestheim Nordh, EVP, People & HSE: 388 shares, New holding: 11,146
- Pål Kildemo, EVP & CFO: 388 shares, New holding: 24,472
- Trond Olaf Christophersen, EVP, Corporate Development: 388 shares, New holding: 5,772
This transaction is in accordance with Section 5-12 of the Norwegian Securities Trading Act.
Hydro will announce its first quarter results for 2023 on April 28, 2023, at 07:00 CET (01:00 EST, 06:00 UTC/GMT). The quarterly report and presentation will be accessible on www.hydro.com at the same time.
Following the release, President and CEO Hilde Merete Aasheim and Executive Vice President and CFO Pål Kildemo will lead a webinar in English at 08:30 CET. A Q&A session will follow the presentation. Note that there will be no on-site presentation at the corporate headquarters.
To participate in the webinar, registration is required via the webcast page. A confirmation email will be sent after registration. Please check for any potential restrictions from your company regarding the Livestorm platform.
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.