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Improved production performance, higher raw material costs
Edited by : AL CIRCLE
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Hydro had underlying earnings before financial items and tax (EBIT) of NOK
1,646 million in the third quarter, down from NOK 1,906 million in the second
quarter.The quarter was marked by higher production performance in Bauxite & Alumina,while seasonal declines and higher raw material costs had a negative
impact on underlying results.
"Our efforts to improve operational performance in Bauxite & Alumina are showing solid results, with Paragominas and Alunorte reporting increased quarterly production. We are strengthening our focus on the ongoing ambitious cost improvement programs, however, raw material cost pressures in the aluminium industry continue, " said Hydro´s President and CEO Svein Richard Brandtzæg.
Underlying EBIT for Bauxite & Alumina increased compared to the second quarter primarily due to improved production performance and better results for commercial activities.
"Our efforts to improve operational performance in Bauxite & Alumina are showing solid results, with Paragominas and Alunorte reporting increased quarterly production. We are strengthening our focus on the ongoing ambitious cost improvement programs, however, raw material cost pressures in the aluminium industry continue, " said Hydro´s President and CEO Svein Richard Brandtzæg.
Underlying EBIT for Bauxite & Alumina increased compared to the second quarter primarily due to improved production performance and better results for commercial activities.
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