Edition:
United States

Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

56.65NOK
7:43am EDT
Change (% chg)

kr-0.65 (-1.13%)
Prev Close
kr57.30
Open
kr57.30
Day's High
kr57.40
Day's Low
kr56.40
Volume
2,986,471
Avg. Vol
6,433,917
52-wk High
kr59.10
52-wk Low
kr34.09

Latest Key Developments (Source: Significant Developments)

Norsk Hydro warns of Brazil bauxite production shortfall
Monday, 25 Sep 2017 01:00am EDT 

Sept 25 (Reuters) - Norsk Hydro Asa :Norsk hydro: issues force majeure notice due to production problems at mrn.Issued a notice of force majeure to its bauxite customers as hydro will not receive full contracted volumes from its supplier, MRN (Mineracao Rio do Norte), due to lower production at bauxite mine.MRN, where hydro has a 5% ownership and additional 40% offtake, is experiencing problems with its tailing systems due to lack of water.Lack of water is caused by a very dry period in region.This is expected to reduce production of bauxite from a previously expected level of 17-17.5 million mt to around 15-15.5 million mt in 2017.As production shortfall is mostly related to dry bauxite for export market, it is not expected that production at Alunorte alumina refinery will be affected.MRN has a nameplate capacity of around 18 million mt and is one of world's largest bauxite mines.  Full Article

Norsk Hydro to buy remaining 50 pct of Sapa from Orkla
Monday, 10 Jul 2017 01:07am EDT 

Repeats to attach to additional alerts:Norsk hydro: hydro acquires sapa to create a global aluminium champion.Orkla and Norsk Hydro have entered into an agreement whereby Hydro is to purchase Orkla's 50% interest in Sapa.Sapa enterprise value NOK 27 billion ($3.24 billion).Accretive to earnings and strong cash generation from sapa from day 1.Synergies of nok 200 million per year, mainly related to remelt and recycling.Transaction will be financed through cash positions and issuance of bonds in norwegian and international markets, and will be temporarily funded by committed undrawn credit lines.Committed to retain its investment grade rating and a robust balance sheet.Hydro will maintain its dividend policy of returning 40 percent of net income over cycle, with nok 1.25 per share seen as a floor in 2017..Purchase price will be paid in cash at completion, adjusted for net debt and normalized working capital.Sapa will enable us to assume global leadership, establish a platform for growth, and provide responsible operations and sustainable solutions for future low-carbon economy.Is now confirming its position as world's leading integrated aluminium company and transaction reinforces our strategic direction.  Full Article

Norsk Hydro to buy remaining 50 pct of Sapa from Orkla
Monday, 10 Jul 2017 01:06am EDT 

July 10 (Reuters) - Norsk Hydro Asa :Norsk hydro: hydro acquires sapa to create a global aluminium champion.Orkla and Norsk Hydro have entered into an agreement whereby Hydro is to purchase Orkla's 50% interest in Sapa.Sapa enterprise value NOK 27 billion ($3.24 billion).Accretive to earnings and strong cash generation from sapa from day 1.Synergies of nok 200 million per year, mainly related to remelt and recycling.Transaction will be financed through cash positions and issuance of bonds in norwegian and international markets, and will be temporarily funded by committed undrawn credit lines.Committed to retain its investment grade rating and a robust balance sheet.Hydro will maintain its dividend policy of returning 40 percent of net income over cycle, with nok 1.25 per share seen as a floor in 2017..Purchase price will be paid in cash at completion, adjusted for net debt and normalized working capital.Sapa will enable us to assume global leadership, establish a platform for growth, and provide responsible operations and sustainable solutions for future low-carbon economy.Is now confirming its position as world's leading integrated aluminium company and transaction reinforces our strategic direction.  Full Article

Orkla CEO sees Sapa exit within 5 years, will raise dividend unless acquisitions done
Tuesday, 6 Sep 2016 09:00am EDT 

: Orkla CEO Peter Ruzicka says highly likely that the company won't own stake in aluminium components maker Sapa, a joint venture owned 50/50 by Orkla and Norsk Hydro, five years from now . Orkla CEO says will look at further potential acquisitions, will raise dividend unless acquisition targets are found . Orkla CEO says China is an interesting market, also U.S. . Orkla CEO says will not invest more in Russia . Orkla CEO says to pay at least nok 2.50 per share in dividend in the years from 2016 to 2018 . Orkla CEO says branded consumer goods division should alone be able to support a dividend of at least of NOK 2.50 crowns per share Further company coverage: [ORK.OL] (Reporting By Joachim Dagenborg, editing by Ole Petter Skonnord) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Norway's Telenor appoints new CFO
Tuesday, 2 Aug 2016 01:00am EDT 

Telenor : Joergen Arentz Rostrup appointed new chief financial officer . Rostrup comes from position as president of Yara North America and is also a former CFO of Norsk Hydro .Acting CFO Morten Karlsen Soerby, will continue until Rostrup commences position. He will then assume a new role as chief transformation officer.  Full Article

BRIEF-Norsk Hydro Q2 results above forecast
Thursday, 21 Jul 2016 01:01am EDT 

Corrects comparisons figures.: Norsk Hydro Q2 underlying EBIT NOK 1,618 million (Reuters poll NOK 1.42 billion) vs NOK 2,667 mln in Q2 2015 (not NOK 1,501 mln) . Norsk Hydro Q2 revenue NOK 20,391 million (Reuters poll NOK 20.17 billion) vs 22,436 mln in Q2 2015 (not NOK 20,138 mln) .Norsk Hydro Q2 underlying net result NOK 1,126 million (Reuters poll nok 894 million) vs nok 1,830 mln in Q2 2015 (not NOK 822 mln).  Full Article

BRIEF-Alu producer Norsk Hydro lifts demand outlook, q2 results above forecast
Thursday, 21 Jul 2016 01:01am EDT 

Corrects comparisons figures.Norsk Hydro says in Q2 report: Norsk Hydro asa says we expect a largely balanced aluminium market for full year . Norsk Hydro asa says we are on track to reach total improvements of nok 2.9 billion in 2019 . Norsk Hydro asa says, for extruded products, a continued moderate market growth is expected in Europe, while certain market segments in north America show indications of flattening out . Norsk Hydro: Expects Global Demand For Primary Aluminium (Incl China) to grow 5% percent in 2016 versus earlier view of 3-4 percent . Higher than-expected activity in China means that we now see primary aluminium demand in China alone to grow by 5-7 percent in 2016 . Norsk hydro asa says demand growth is expected to increase in the third quarter of 2016 mainly due to higher demand in automotive . Norsk Hydro Q2 underlying EBIT NOK 1,618 million (Reuters poll NOK 1.42 billion) vs NOK 2,667 mln in Q2 2015 (not NOK 1,501 mln) . Norsk Hydro Q2 revenue NOK 20,391 million (Reuters poll NOK 20.17 billion) vs 22,436 mln in Q2 2015 (not NOK 20,138 mln) .Norsk Hydro Q2 underlying net result NOK 1,126 million (Reuters poll nok 894 million) vs nok 1,830 mln in Q2 2015 (not NOK 822 mln).  Full Article

Norsk Hydro says completes sale of Heroeya industrial park
Friday, 24 Jun 2016 02:02am EDT 

Norsk Hydro Asa : Norsk hydro: sale of Heroeya industrial park completed .Transaction gives Hydro a book gain of approximately nok 350 million with accounting effect from june 1.  Full Article

Norsk Hydro renews metal sales agreement with Sapa
Tuesday, 7 Jun 2016 02:00am EDT 

Norsk Hydro Asa : Says renews metal sales agreement with Sapa joint venture . Says agreement covers extrusion ingot in Europe, and replaces the existing contract, which was entered into at the closing of the Sapa Joint venture in 2013, and expires by the end of 2016 .Hydro and Orkla each owns 50 percent of Sapa.  Full Article

Norsk Hydro ASA wins tax appeal
Friday, 15 Apr 2016 12:19am EDT 

Norsk Hydro ASA:Has won a tax appeal, which means that company will receive a tax reimbursement and interest of a total of around 700 million crowns.The decision will result in a tax reimbursement of approximately NOK 600 million, and approximately NOK 100 million in interest. The amounts will be included in the financial statements for Q1 2016 and are expected to be received in Q2 2016.  Full Article

BRIEF-Norsk Hydro wins regulatory approval of Sapa takeover

* Competition authorities have approved the acquisition of Sapa