Paragominas

Norsk Hydro: Impairments affect Hydro’s fourth quarter results

Retrieved on: 
Thursday, December 21, 2023
Acquisition, NOK, Norsk Hydro, Disclosure, Plant, Carbon, Security (finance), Paragominas, Aluminium

Faced with challenging alumina market conditions and Australian power price insecurity, Norsk Hydro ASA will report total impairment losses of approximately NOK 5.9 billion in its fourth quarter results.

Key Points: 
  • Faced with challenging alumina market conditions and Australian power price insecurity, Norsk Hydro ASA will report total impairment losses of approximately NOK 5.9 billion in its fourth quarter results.
  • “The bauxite and alumina operations are a key enabler for Hydro to pioneer the green aluminium transition by significantly reducing the upstream carbon footprint.
  • These expected earnings are not included in current valuation for impairment testing purposes, in line with accounting rules,” says Aasheim.
  • Hydro has concluded that the unused tax positions may not be recoverable for deduction in future results and will therefore impair tax assets of about NOK 1.4 billion in the fourth quarter.

Hydro Capital Markets Day 2023: Pioneering the green aluminium transition, powered by renewable energy

Retrieved on: 
Wednesday, November 29, 2023
Copper, Atmosphere, Nordic, PCS, Carbon footprint, Policy, IPAM, Partnership, Biodiversity, Q2, Risk, Recycling, Mercedes-Benz, Acquisition, Wind, Mining, Hydroelectricity, Bauxite, NOK, Waste management, Education, Metal, Investment, Air pollution, Biofuel, Annual, Growth, Carbon, Steel, CO2, Paragominas, Polestar, Nature, Capital market, Renewable energy

Towards 2030, Hydro will step up growth in aluminium recycling and extrusions, and in its ambitions within renewable power generation.

Key Points: 
  • Towards 2030, Hydro will step up growth in aluminium recycling and extrusions, and in its ambitions within renewable power generation.
  • Amid current market challenges, strong demands for key materials like aluminium, steel, and copper are expected due to the green transition.
  • In the 2030 strategic direction, Hydro is stepping up growth investments in Extrusions and recycling to capitalize on the green transition opportunities.
  • Ambitions in renewable power generation are elevated to ensure affordable renewable energy in the aluminum value chain at attractive returns.