Norsk Hydro A S Stock Price, News & Analysis

Norsk Hydro ASA has announced its Long-Term Incentive (LTI) program, allowing participants, including the President and CEO, to earn up to 30% of their annual salary based on performance metrics. These metrics include a three-year average adjusted RoaCE and Total Shareholder Return compared to peers. The LTI payment is contingent upon having a positive adjusted EBITDA from the previous year. Participants must reinvest their net after-tax payments into Hydro shares for at least three years. Allocation details for selected executives have been provided, with shares allocated at NOK 88.03 each.

Norsk Hydro ASA's Board of Directors has proposed an ordinary dividend of NOK 3.4 per share and an extraordinary dividend of NOK 2.0 per share for 2021, totaling NOK 5.4 per share. The last day to claim this dividend is 10 May 2022, with an ex-date of 11 May 2022, record date on 12 May 2022, and payment scheduled for 20 May 2022. The proposal will be voted on during the Annual General Meeting on 10 May 2022.

Norsk Hydro ASA reported a significant increase in fourth-quarter 2021 EBITDA, reaching NOK 9,011 million, up from NOK 3,403 million in Q4 2020. The full-year 2021 EBITDA was NOK 28,010 million, nearly doubling from NOK 13,106 million in 2020. Key growth factors included higher metal prices, improved production, and record performance in Hydro Energy. However, rising costs and negative currency impacts were noted. The company plans to enhance low-carbon aluminium production and maintain a strong cash position, concluding 2021 with NOK 22.9 billion in cash equivalents.

Hydro's Albras Aluminium Plant faced a shutdown of one production line on February 19 due to an internal power distribution failure. The incident is currently under investigation, with preparations for repair underway. Albras anticipates restarting the initial pots in early Q2 2022, aiming to return to normal operations by Q4 2022. The situation could affect production levels and revenue, pending the successful and timely repair of the shutdown line.

Hydro's aluminium plant Albras in Brazil faced a shutdown of one production line due to an internal power distribution failure on Saturday. This affected potline has an annual production capacity of 110,000 tonnes of liquid aluminium, while the plant's total capacity is 460,000 tonnes per year. The other three lines remain operational. Hydro, which owns 51% of Albras, will investigate the cause of the failure. Financial implications and the timing for restarting the affected line are currently unclear.

Hydro will release its fourth quarter results for 2021 on February 22, 2022, at 07:00 CET (01:00 EST). The quarterly report and presentation slides will be accessible via www.hydro.com. An audio webcast and conference call with Executive Vice President and CFO Pål Kildemo will take place at 08:30 CET. Due to COVID-19, there will be no in-person presentation or press conference. Participants can register for the conference call via a provided link, which will include dial-in details.

Hydro is set to release its fourth-quarter results for 2021 on February 22, 2022, at 07:00 CET. The quarterly report and presentation will be available on their official website. CFO Pål Kildemo will host an audio webcast and conference call at 08:30 CET, allowing stakeholders to engage through a Q&A session post-presentation. Due to COVID-19, there will be no in-person presentation or press conference. Interested participants must register to join the conference call and will receive dial-in details via email.

Norsk Hydro ASA has reached an agreement with unions to discontinue its Corporate Assembly, pending approval at the Annual General Meeting in May. This decision follows discussions on enhancing employee democracy. If approved, employee representation on the Board of Directors will increase from three to four. Additionally, representation on Hydro Aluminum AS and Hydro Energi AS boards will be established. The Corporate Assembly currently supervises the Board of Directors, but its dissolution will shift election authority for board members to the General Meeting.

Hydro announces new improvement targets and sustainability ambitions at its Capital Markets Day 2021. The company aims for net zero carbon emissions by 2050, launching a near-zero carbon aluminum product based on 100% complex post-consumer scrap by 2022. Hydro reports strong operational and financial performance in 2021, planning to distribute 70-80% of adjusted net income to shareholders. With an increasing demand for greener aluminum, Hydro is well-positioned to leverage its sustainability initiatives for competitive advantage and growth in new energy sectors.