Norsk Hydro annual reporting 2014: Better, bigger, greener

"After challenging years, the fundamentals in the aluminium market show some improvement - and our ambitious improvement strategy yields significant results turning Hydro into a strong player well positioned for a better, bigger and greener future," President and CEO Svein Richard Brandtzæg writes in his letter to shareholders.

"The lowered cost of producing a ton of aluminium is not simply a result of shortsighted "cost-cutting", but a lasting result of systematic and determined improvement programs. As earnings outlook has improved, now is the time to prove the strength of our improvement culture: Stepping-up when you have to is one thing, but true culture is reflected through advancements also when not driven by external distress," Brandtzæg says.

"Improvements will be supplemented with selective growth and portfolio high-grading measures as well as further technological advancements aiming to establish Hydro as a leading industry player, and maturing some of the most competitive projects in the world when the time is right. Demand for aluminium is the fastest growing of any metal in the world. Low weight, strength and recyclability make it the material of choice to respond to the global challenge of sustainable economic growth," Brandtzæg continues.

"For us in Hydro, aluminium is not merely a commodity. Aluminium is where natural resources come together with our intellectual capabilities. Building on the inherent properties of aluminium, we add know-how and technological edge in order to find solutions to the major challenges of our time - like saving energy and reducing greenhouse gas emissions," Brandtzæg finishes.

The report, meeting the Norwegian statutory requirements for annual reporting, is "Financial Statements and Board of Directors' Report - 2014." This report is available in Norwegian and English.

In addition, a more extensive report is available, "Annual Report - 2014," with detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance and financial statements. The report is available in English.

The full content of the two reports is presented with supplementary information in the Hydro website. All parts of the reports can be downloaded from this web site and printed in PDF format on demand. Hydro's main reporting on viability performance is included in the "Annual Report - 2014," with additional details on its website.