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Norsk Hydro ASA (NHYDY.PK)

NHYDY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Norsk Hydro warns of Brazil bauxite production shortfall
1:00am 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 underlying EBIT near forecast, repeats outlook
Tuesday, 25 Jul 2017 01:00am EDT 

July 25 (Reuters) - Aluminum producer Norsk Hydro Asa : :Norsk hydro q2 revenue nok 24,591 million (reuters poll nok 24.41 billion) vs nok 20,391 mln in q2 2016.Norsk hydro q2 underlying ebit nok 2,930 million (reuters poll nok 3.0 billion) vs nok 1,618 mln in q2 2016.Norsk hydro q2 underlying net result nok 2,214 million (Reuters poll nok 1.85 billion) vs nok 1,126 mln in q2 2016.Improvement in results mainly driven by higher aluminium prices and favourable currency developments.Lower realized alumina prices and increased raw material costs had a negative impact on results.Norsk hydro repeats global demand for primary aluminium to grow 4-6 percent in 2017.Global market largely balanced.We see a global primary aluminium deficit in quarter, driven by increasing deficit outside china.Better improvement program on track for 2017 target of nok 500 million despite slightly behind plan, and the 2019 target of NOK 2.9 billion.Karmøy technology pilot on time and budget, expected start-up q4 2017.  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

Hydro CEO says not planning to expand Qatar aluminium plant
Friday, 28 Apr 2017 03:34am EDT 

April 28 (Reuters) - Norsk Hydro Asa Chief Executive Svein Richard Brandtzaeg said on Friday::We are not planning to expand Qatalum aluminium plant as it is now.We see largely a balanced market and we are not planning to increase capacity in the Middle East.  Full Article

Norsk Hydro CEO repeats 3-5 pct growth in aluminium demand in 2017
Friday, 17 Mar 2017 03:28am EDT 

Norsk Hydro Asa : Norsk Hydro CEO repeats 2017 demand for aluminium to grow by a healthy 3-5 percent, Svein Richard Brandtzaeg writes in a letter to shareholders . Norsk hydro asa ceo: After years of improvement efforts motivated by need to adapt to external challenges, we are now starting to take advantage of new opportunities . More and more discover the inherent properties of aluminium . Through innovation and product development we bring new aluminium solutions into new applications . Due to its light weight, formability, durability and endless recyclability, the growth is strikingly broad-based, spanning sectors like transportation, packaging, building & construction as well as electrical applications .In 2017 three important symbols of the new era will be in full operation; the Karmøy Technology Pilot in Norway, the Automotive Line 3 and the UBC recycling line in Germany.  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-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

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

UPDATE 1-Aluminium producer Norsk Hydro warns of Brazil bauxite shortfall

OSLO, Sept 25 Norwegian metals maker Norsk Hydro has warned customers of a shortfall in supplies of bauxite from Brazil, the raw material from which aluminium is made, it said on Monday.