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GlobeNewswire·

Correction: Norsk Hydro: Solid results and strong performance

NHYDY
  • Hydro's adjusted EBITDA for Q3 2026 reached NOK 9,089 million, up from NOK 5,996 million in Q3 2025.
  • Adjusted earnings per share increased to NOK 2.3 from NOK 1.0 in the prior year quarter.
  • Higher all-in metal prices, higher alumina prices, & improved earnings in Recycling & Extrusions drove positive results.
  • Strong performance was partially offset by higher anode & energy costs in Aluminium Metal, gas supply disruptions in Bauxite & Alumina, a stronger NOK vs USD, & negative price area differences in Energy.
  • Free cash flow was NOK 1.4 billion, impacted by higher metal prices & associated working capital requirements.
  • Hydro produced its first metal at the HalZero test facility, marking a milestone for its carbon-free technology track.
  • Commercial momentum continues for low-carbon & recycled aluminium, with new PPAs secured & brands like CHANEL, GM, & Mercedes-Benz integrating Hydro's solutions.
  • Alunorte resumed regular operations after temporary gas supply disruptions were mitigated through alternative LNG supply.
  • Slovalco restarted primary aluminium production in late August, targeting 75,000 tonnes annual capacity by February 2027.
  • Enova awarded NOK 82 million in funding for the HalZero concept development & industrial pilot planning.
  • Hydro updated its year-end capex guidance to around NOK 12.5 billion (down from NOK 13.5 billion) & net working capital guidance to around NOK 32 billion (up from NOK 30 billion).
  • Adjusted EBITDA for Aluminium Metal rose to NOK 7,031 million, driven by higher metal prices despite higher energy & carbon costs.
  • Adjusted EBITDA for Bauxite & Alumina fell to NOK 283 million due to lower alumina sales prices, gas disruptions, & exchange rate effects.
  • Adjusted EBITDA for Energy decreased to NOK 411 million, primarily due to losses on price area differences.
  • Nordic hydropower reservoirs were at 67.8 percent of full capacity at quarter-end, below the seasonal normal of 82.8 percent.
  • Global aluminium prices ranged between USD 3,100 & USD 3,300 per mt, influenced by Middle East tensions & rising demand in Asia.
  • Adjusted EBITDA for Extrusions increased to NOK 1,189 million, supported by higher recycling margins & sales volumes.
  • Net debt decreased to NOK 15.4 billion from NOK 16.3 billion during the quarter.
  • Net income for the quarter was NOK 5,263 million, including unrealized derivative losses & various adjustment charges.