Hydro Press Release
Hydro's Alunorte production rising, offset by ICMS tax charges
Edited by : AL CIRCLE
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Hydro has reported its fourth quarter 2013 and full year earnings. For the full year, underlying EBIT rose to 2,737 million from 1,297 million in 2012 despite the fall in EBIT in the fourth quarter.
Fourth-quarter underlying EBIT for the Bauxite & Alumina business area was, however, lifted by improved production at the Alunorte alumina refinery in Brazil, following several disruptions in 2013, offset by claims relating to ICMS taxes.
"I am pleased to report that production at Alunorte is back at production levels seen in 2012, providing stable supplies of top-quality alumina. Stable and sound operations at Alunorte remain a key priority in 2014," says Hydro President and CEO Svein Richard Brandtzæg. "However, stable and predictable framework conditions are absolutely critical to Hydro wherever we operate and a prerequisite for making long-term commitments. We are in dialog with Brazilian authorities, and doing our utmost to ensure that this is also the case in Brazil," he added.
Fourth-quarter underlying EBIT for the Bauxite & Alumina business area was, however, lifted by improved production at the Alunorte alumina refinery in Brazil, following several disruptions in 2013, offset by claims relating to ICMS taxes.
"I am pleased to report that production at Alunorte is back at production levels seen in 2012, providing stable supplies of top-quality alumina. Stable and sound operations at Alunorte remain a key priority in 2014," says Hydro President and CEO Svein Richard Brandtzæg. "However, stable and predictable framework conditions are absolutely critical to Hydro wherever we operate and a prerequisite for making long-term commitments. We are in dialog with Brazilian authorities, and doing our utmost to ensure that this is also the case in Brazil," he added.
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