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 ASA reports recurring developments across its aluminium and alumina operations, including production trends, raw-material and metal-price effects, recycling margins, power sourcing for Norwegian smelters, and updates tied to assets such as Alunorte and the HalZero test facility. Company news also covers quarterly results, dividends, annual general meeting resolutions, board elections, remuneration policies, long-term incentive share allocations, employee share programs, and primary-insider transactions.
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.
Hydro has announced a reduction in its ownership stake in Vianode, a Norwegian synthetic graphite producer, from 30% to 19.9%. The company canceled a put option with private equity fund Altor and sold 10.1% of its shares. A mutual put/call option for the remaining 19.9% stake will be exercised by February 28, 2025. Hydro will step down from Vianode's Board of Directors and has decided not to provide further capital to support Vianode's growth, instead focusing on its own strategic priorities. The company reports impairments of NOK 956 million related to Vianode investments in Q3, with NOK 581 million impacting reported EBITDA and NOK 375 million affecting Finance expense.
Norsk Hydro reported Q3 2024 adjusted EBITDA of NOK 7,367 million, up from NOK 3,899 million year-over-year, driven by higher aluminium and alumina prices, lower raw material costs, and positive currency effects. The company saw strong upstream results, particularly in Bauxite & Alumina, while downstream markets faced challenges with weak demand and recycling margins in Europe and North America. The three-month aluminium price rose from USD 2,515 to USD 2,612 per tonne during Q3. Hydro's net debt decreased to NOK 14.8 billion, and the company reduced its ownership in Vianode from 30% to 19.9%, resulting in NOK 956 million in impairments.
Norsk Hydro ASA has provided an update on its share buyback program announced on September 11, 2024, which will run until February 28, 2025. From October 16-22, 2024, the company purchased a total of 871,780 shares at prices ranging from NOK 68.47 to 69.69 per share. The accumulated total under the program to date is 5,534,550 shares at an average price of NOK 65.28, with a total transaction value of NOK 361,285,470. Following these transactions, Norsk Hydro now owns 19,617,055 shares, representing 0.98% of its share capital.
Norsk Hydro (NHYDY) has announced the release date for its third quarter results 2024. The results will be published on October 24, 2024, at 07:00 CEST. The quarterly report and presentation will be available on the company's website simultaneously.
A webinar in English will be hosted by President and CEO Eivind Kallevik and Executive Vice President and CFO Trond Olaf Christophersen at 08:30 CEST on the same day. The webinar will include a Q&A session following the presentation. There will be no physical presentation or press conference.
Interested participants can register for the webinar through the webcast page. The webcast will be powered by Livestorm, and attendees are advised to check for any company restrictions regarding the use of this platform.
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to end on February 28, 2025. The company has reported transactions from October 9 to October 15, 2024, with a total of 824,814 shares purchased at an average price of 67.71 NOK per share, amounting to a total transaction value of 55,651,500 NOK.
Including previous transactions, Norsk Hydro has accumulated 4,662,770 shares under this program, with a total value of 301,309,742 NOK at an average price of 64.62 NOK per share. Prior to the buyback, the company owned 14,082,505 own shares. Following these transactions, Norsk Hydro now owns a total of 18,745,275 shares, representing 0.93% of its share capital.
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to end on February 28, 2025. From October 2 to October 8, 2024, the company repurchased a total of 1,097,000 shares at a weighted average price of NOK 67.91 per share, for a total transaction value of NOK 74,258,718.
Prior to this program, Norsk Hydro owned 14,082,505 own shares. Following these transactions, the company now owns 17,920,461 shares, representing 0.89% of its share capital. The accumulated total of shares repurchased under the program to date is 3,837,956 at an average price of NOK 64.01, totaling NOK 245,658,243.
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to conclude on February 28, 2025. The company has reported transactions from September 25 to October 1, 2024, with daily volumes ranging from 78,087 to 240,000 shares. The weighted average share prices varied between NOK 65.10 and NOK 68.54 per day.
To date, Norsk Hydro has accumulated 2,740,956 shares under this program, with a total transaction value of NOK 171,399,526. Prior to the buyback, the company owned 14,082,505 own shares. Following these transactions, Norsk Hydro now owns a total of 16,823,461 shares, representing 0.84% of its share capital. Detailed transaction information is available on www.newsweb.no.