Norsk Hydro A S Stock Price, News & Analysis

The Annual General Meeting of Norsk Hydro ASA is scheduled for Thursday, 6 May 2021, at 10:00 (CEST). This will be a digital meeting with electronic voting due to Covid-19 precautions. Participants can vote in advance or attend via proxy. Detailed information on the agenda and relevant documents is available at www.hydro.com/generalmeeting. Interested investors can contact Line Haugetraa for further inquiries. This announcement complies with the Norwegian Securities Trading Act's disclosure requirements.

Hydro is exploring the development of hydrogen facilities to meet both internal and external demand, leveraging its expertise in renewable power.

The company aims to reduce industrial CO2 emissions and establish a sustainable hydrogen business. By 2025, Hydro plans to strengthen its position in low-carbon aluminum while exploring growth in recycling and new energy.

Hydro's strategy includes a shift from gas to hydrogen in various aluminum plants, potentially reducing CO2 emissions by 30% by 2030.

Further details will be revealed during the first-quarter results presentation on April 27.

Hydro emerged stronger from the pandemic in 2020, achieving NOK 4.2 billion in savings, half of its NOK 8.5 billion goal for 2025. The company announced the sale of its Rolling business to KPS Capital Partners, enhancing its profitability and sustainability strategy. Significant innovations include the Karmøy Technology Pilot, cutting energy consumption and emissions. Hydro also aims to lead in low-carbon aluminium and expand into recycling and renewable energy. The annual reports detail operational and financial performance, complying with Norwegian statutory requirements.

KPS Capital Partners has signed a definitive agreement to acquire the global aluminum rolling business from Norsk Hydro ASA for €1.38 billion (approximately $1.67 billion). The transaction is expected to close in mid-2021, pending customary approvals. The acquired company, a leading manufacturer of aluminum rolled products, operates seven manufacturing facilities and one R&D center across Germany and Norway, employing around 5,000 individuals. KPS aims to drive growth through innovation and investment in technology, leveraging its extensive experience in the metals and automotive sectors.

The company will hold a presentation by President & CEO Hilde Merete Aasheim at 09:00 CET today, March 5, focusing on a significant transaction. Participants can join via an audio webcast with a Q&A session following the presentation.

Norsk Hydro ASA has signed an agreement to sell its Rolling business to KPS Capital Partners for EUR 1,380 million, aiming to enhance profitability and sustainability. The deal includes seven plants, an R&D center, and about 5,000 employees. The sale is expected to strengthen Hydro's balance sheet and enhance its focus on low-carbon aluminium. In 2020, Hydro Rolling generated NOK 24 billion in revenue, contributing 17% to total revenues and 9% to Underlying EBITDA. The transaction is subject to regulatory approvals and is anticipated to close in the second half of 2021.

Cynthia Kukielski Spousal Trust, associated with Norsk Hydro board member Peter Kukielski, bought 3,000 American Depositary Receipts (ADRs) of Norsk Hydro on February 16, 2021. The purchases included 1,000 ADRs at USD 5.01 each and 2,000 ADRs at USD 5.02 each. This transaction occurred on the OTCQX market. The trust's new holding totals 3,000 ADRs. The information complies with Section 5-12 of the Norwegian Securities Trading Act.

Helena Nonka has been appointed as the Executive Vice President for Corporate Development at Hydro, effective April 1. This new role is part of the company's efforts to strengthen its leadership team. Nonka, 45, previously served as the Global Head of New Business for Natural Resources at SGS and has over 20 years of experience in the natural resources industry. She replaces Arvid Moss, who held the position since its inception in 2019. Nonka's extensive background includes senior roles at Rio Tinto, where she was General Manager of Corporate Strategy.

Dividend Announcement: The company has declared a dividend of NOK 1.25 per share, with the payment date set for 19 May 2021. The last day to include the right to the dividend is 06 May 2021, with the ex-date on 07 May 2021 and the record date on 10 May 2021. This declaration is in compliance with the disclosure requirements under the Norwegian Securities Trading Act.