Edition:
United States

Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

39.59NOK
2 Dec 2016
Change (% chg)

kr-0.19 (-0.48%)
Prev Close
kr39.78
Open
kr39.98
Day's High
kr40.16
Day's Low
kr39.52
Volume
7,876,383
Avg. Vol
5,910,114
52-wk High
kr40.90
52-wk Low
kr26.00

Latest Key Developments (Source: Significant Developments)

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

Norsk Hydro ASA - Norway calls corporate corruption summit after Panama Papers - Reuters News
Monday, 4 Apr 2016 04:40am EDT 

Norsk Hydro ASA:Norway's government invited the heads of top company boards to talks on corruption as offshore banking revelations added to a string of allegations over the ethics of some of the country's largest firms - RTRS.The invitation follows the leak of more than 11.5 mln documents from the files of a Panama-based law firm, allegedly showing how clients avoided tax or laundered money.Among the leaked material on hundreds of thousands of clients in multiple jurisdictions were revelations that top Norwegian bank DNB helped customers set up offshore companies in the Seychelles.DNB, in which the state owns 34%, said it regretted assisting about 40 customers in setting up the firms between 2006 and 2010, and that the practice had ended."It's the customers' responsibility to report their own funds to tax authorities. Still, we believe we should not have contributed to establishing these companies," Chief Executive Rune Bjerke said.A parliament committee is looking into cases concerning oil firm Statoil, telecoms company Telenor and aluminium producer Norsk Hydro about their own or their affiliates' dealings in Angola, Uzbekistan and Tajikistan respectively.All three firms, in which the state has stakes, have denied wrongdoing.Norsk Hydro said it expected it would attend the June meeting.In a separate statement, the minister said bank DNB must now provide a written explanation of its policy of helping clients set up offshore companies.  Full Article

Norsk Hydro ASA - Norway trade union breaks off wage talks, could lead to strike - Reuters News
Tuesday, 29 Mar 2016 01:29am EDT 

Norsk Hydro ASA:Norway's key industrial trade union broke off wage negotiations with employers, in a move that could lead to a large strike, it said on Tuesday. - RTRS.A deal between Fellesforbundet, the most important union within the main confederation of unions in Norway, and the Federation of Norwegian Industries, representing employers, must be reached by the latest midnight (2200 GMT) on April 2.If an agreement is not reached, 26,000 workers from 800 firms will go on strike from April 3, the union said in a statement.Fellesforbundet said workers from oil services firm Aker Solutions AKSOL.OL, aluminium producer Norsk Hydro NHY.OL and industrial conglomerate Kongsberg KOG.OL, among others, would be affected by a strike.The outcome of the talks will set a benchmark for the upcoming negotiations for all other workers, including those in service industries and the public sector.  Full Article

Norsk Hydro ASA denies wrongdoing in Tajikistan - Reuters News
Sunday, 6 Mar 2016 09:42pm EST 

Norsk Hydro ASA:Norsk Hydro enied on Monday any wrongdoing in its past trade in Tajikistan and dealings with Tajik Aluminium Company (Talco). A Norwegian parliamentary committee is investigating Hydro's trade with Talco from 1993 to 2013.- RTRS."There are no indications of Hydro having acted in violation of applicable laws, internal rules or guidelines," Hydro's chairman, Dag Mejdell, said in the statement."The company has zero tolerance towards corruption." Hydro said it had handed a 17-page report to Norwegian Trade and Industry Minister Monica Maeland on Monday to brief her on the case.The Norwegian government is Hydro's biggest shareholder, with a 34.3 percent stake.The report was triggered by questions from the Norwegian parliament's Committee on Scrutiny and Constitutional Affairs, following media reports alleging possible corruption in connection with Hydro's dealings with Talco."In Tajikistan Hydro has exclusively bought and sold products at market prices and did not engage any agents or intermediaries," the company said.Norsk Hydro ceased trading with Talco three years ago. State-owned Talco did not immediately reply to an e-mailed request for comment and did not respond to phone calls.  Full Article

BRIEF-Orkla CEO sees Sapa exit within 5 years, will raise dividend unless acquisitions done

* 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