Norsk Hydro: 2022 record results, Q4 down on lower prices
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Tuesday, February 14, 2023
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Strong results and aluminium margins, lower upstream prices and higher costs
Key Points:
- Strong results and aluminium margins, lower upstream prices and higher costs
Hydro experienced record results for the full year 2022, with an Adjusted EBITDA of NOK 39.7 billion. - “Having concluded a strong fourth quarter of 2022, I am very satisfied to see Hydro completing a year of record results both financially and safety wise.
- Nordic power prices are on average higher in the fourth quarter compared to the same period last year, but declined significantly compared to the third quarter of 2022.
- Significant price area differences in the Nordic region have continued, however they were considerably lower compared to the third quarter.