Norsk Hydro A S Stock Price, News & Analysis

Norsk Hydro ASA provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. Between November 20-26, 2024, the company purchased a total of 164,730 shares at prices ranging from NOK 71.38 to 72.13. The accumulated volume to date is 9,898,414 shares at an average price of NOK 66.26, totaling NOK 655,855,748. Following these transactions, Norsk Hydro now owns 23,980,919 shares, representing 1.19% of its share capital.

Hydro announces strategic updates at its 2024 Capital Markets Day, launching a new NOK 6.5 billion improvement program targeting 2030. The company is focusing on aluminium recycling and extrusions, while phasing out battery and Havrand businesses. Despite challenging market conditions, Hydro projects 20% increase in Hydro REDUXA and CIRCAL sales for 2024. The company reconfirms its NOK 15 billion annual capex guidance through 2025 and medium-term, with potential additional flexibility of NOK 1-2 billion. Working capital is estimated at NOK 29 billion by 2024 with an additional NOK 1 billion build in 2025.

Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. Between November 13-19, 2024, the company purchased a total of 843,778 shares at varying prices. The accumulated volume to date is 9,733,684 shares at an average price of NOK 66.17, totaling NOK 644,037,928. Prior to the program, Norsk Hydro owned 14,082,505 shares. Following these transactions, the company now owns 23,816,189 shares, representing 1.19% of its total share capital.

Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. From November 6-12, 2024, the company purchased 1,457,211 shares at prices ranging from NOK 65.85 to NOK 69.86. The total accumulated shares bought under the program to date are 8,889,906 at an average price of NOK 66.28, with a total transaction value of NOK 589,255,450. Following these transactions, Norsk Hydro now owns 22,972,411 shares, representing 1.14% of its share capital.

Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. Recent transactions from October 30 to November 5, 2024, show the company purchased a total of 681,869 shares at prices ranging from NOK 68.10 to NOK 69.79. The accumulated total under the program to date is 7,432,695 shares at an average price of NOK 66.03. Following these transactions, Norsk Hydro now owns 21,515,200 shares, representing 1.07% of its share capital.

Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. From October 23-29, 2024, the company purchased 1,216,276 shares at prices ranging from NOK 67.37 to 68.26 per share. Including previous transactions, the company has accumulated 6,750,826 shares under the program at an average price of NOK 65.73. Prior to the program, Norsk Hydro owned 14,082,505 shares, and now holds 20,833,331 shares, representing 1.04% of its total share capital.

Norsk Hydro has announced its upcoming Capital Markets Day scheduled for November 27, 2024, at the Royal Garden Hotel in London. The event offers both in-person and virtual attendance options, though virtual attendees won't have access to Q&A sessions or 1:1 meetings. The agenda includes presentations from the CEO, Business Areas, and CFO, starting at 08:00 GMT, followed by Q&A sessions and lunch. Afternoon sessions from 12:30 to 16:00 GMT will feature management meetings for investors and sell-side analysts. Registration deadline is November 6.

Norsk Hydro reported strong Q3 2024 results with adjusted EBITDA of NOK 7,367 million, up from NOK 3,899 million year-over-year. The increase was driven by higher aluminium and alumina prices, lower raw material costs, and positive currency effects. The company's adjusted RoaCE was 7.2%, with free cash flow of NOK 1.7 billion.

The Bauxite & Alumina segment showed record results, benefiting from rising alumina prices and the Alunorte fuel switch project. However, downstream markets faced challenges with weak demand and recycling margins in Europe and North America, particularly affecting the automotive and construction sectors. The company is implementing cost-cutting measures and investing in automation to enhance efficiency.

Notable developments include a partnership extension with Mercedes-Benz for Amazon development projects and a decision to reduce ownership in Vianode from 30% to 19.9%, resulting in NOK 956 million in impairments.

Norsk Hydro has reached a settlement regarding its power purchase agreement (PPA) with Markbygden Ett AB as part of the latter's reorganization plan. Hydro is entitled to compensation of up to EUR 248 million for voluntarily terminating the PPA, which was signed in 2017 for 1.65 TWh annual baseload supply during 2021-2039. The wind park ceased power deliveries in February 2023 due to significantly lower-than-expected production levels, resulting in 2.5 TWh of non-delivered power. The compensation is subject to the park's future sale and depends on sale proceeds. Despite this, Hydro's Norwegian smelters maintain robust sourcing through 2030 with 9.4 TWh hydropower production and 10 TWh yearly contracts.