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.
Norsk Hydro has finalized the sale of a 49.9% stake in Hydro Rein, its renewable energy subsidiary, to Macquarie Asset Management. The transaction, valued at USD 333 million as of June 30, 2023, is pivotal for Hydro’s renewable energy strategy. Macquarie will contribute USD 214 million at closing, with the remainder provided as needed. This partnership aims to fund Hydro Rein’s current and future projects without additional equity calls. Hydro Rein, since its 2021 launch, has developed 8.4 GW of renewable energy capacity, securing 5.3 TWh in annual power purchase agreements. The collaboration includes significant wind projects in the Nordics and Brazil. Hydro Rein will also support Hydro's decarbonization efforts, particularly in aluminum production.
Norsk Hydro will host its Capital Markets Day on November 27, 2024, at the Royal Garden Hotel in London. The event runs from 09:00 to 17:00 GMT and offers both in-person and virtual attendance options. Hydro's Executive Leadership Team will present on strategic priorities, market developments, and financial targets. The day will feature Q&A and roundtable sessions, facilitating direct interaction with the Hydro organization. A formal invitation for registration will be issued later.
On May 30, 2024, Espen Gundersen, a member of the Board of Directors of Norsk Hydro, purchased 6,800 shares of the company at NOK 69.34 per share.
This transaction brought his total holdings to 10,000 shares. The company disclosed this information in compliance with Section 5-12 of the Norwegian Securities Trading Act.
Norsk Hydro welcomed Eivind Kallevik as the new President and CEO, focusing on accelerating growth, value creation, and sustainability. The company's strategy aims at leading the green aluminium transition with a strong emphasis on low-carbon and recycled solutions. Hydro's 2030 strategy includes growth in recycling, extrusions, and energy solutions to support decarbonization. The company remains committed to safety, cost control, and profitability to achieve its long-term objectives amid challenging market conditions.
Hydro's new President and CEO, Eivind Kallevik, made changes to the Executive Leadership Team, with Hanne Karine Simensen becoming EVP of Hydro Aluminium Metal, Kari Ekelund Thørud becoming EVP of Hydro Energy, and Trond Olaf Christophersen taking on the role of CFO. The company also increased female representation in leadership to 55%.
Norsk Hydro ASA announced that their shares will be traded ex-dividend of NOK 2.50 as of May 8, 2024. This news impacts investors who hold shares on this date, as they will not be entitled to the dividend payment. The company's investor contact is Martine Rambøl Hagen, reachable at +47 91708918 or Martine.Rambol.Hagen@hydro.com.
The Annual General Meeting of Norsk Hydro ASA elected new and re-elected existing members to the Board of Directors. Rune Bjerke was elected as Chair and Kristin Fejerskov Kragseth as Deputy Chair. The Board now consists of 11 members including shareholder elected representatives serving up to two years.
The Annual General Meeting (AGM) of Norsk Hydro ASA was held on May 7, 2024, as a hybrid meeting. All agenda proposals were adopted, including a dividend distribution of NOK 2.50 per share. It also resolved a capital reduction by canceling own shares and redeeming shares held by the Norwegian State. The dividend will be paid on May 21, 2024, to shareholders as of May 7, 2024. The minutes of the AGM are available on hydro.com/generalmeeting.
Summary not available.
Summary not available.