Norsk Hydro financicial result down on reduce aluminium prices and energy production

Hydro’s underlying gain before financial equipment and taxation was NOK 518 million in a second quarter, down from NOK 1,077 million in a initial entertain of 2013, as revoke aluminium and alumina prices and seasonally revoke appetite prolongation weighed on results. Bauxite and alumina prolongation was influenced by appetite outages.

• Underlying EBIT NOK 518 million
• Lower alumina and aluminium prices
• Lower outcome in Energy, especially from seasonally revoke production
• Production in Bauxite Alumina influenced by appetite outages
• Increased volumes lift outcome in Rolled Products
• Aluminium direct expansion opinion 2-4% outward China

“Although a tellurian macroeconomic conditions stays challenging, aluminium direct is approaching to continue to uncover plain expansion this year. Hydro maintains a opinion for a equivalent aluminium supply and direct in 2013,” Hydro’s President and CEO Svein Richard Brandtz?g said.

Underlying EBIT for Bauxite Alumina declined compared to a initial quarter, especially due to revoke LME-linked alumina prices and reduced bauxite production. Alumina prolongation declined serve from diseased levels gifted in a before entertain following outmost appetite outages inspiring a Alunorte refinery.

Primary Metal delivered revoke underlying formula for a second quarter, essentially due to revoke satisfied aluminium prices. Underlying EBIT for Metal Markets was fast compared to a before quarter.

Compared to a initial quarter, underlying EBIT for Rolled Products improved, impacted by seasonally aloft volumes partly equivalent by revoke margins. Operating costs per metric tonne declined.

Underlying EBIT for Energy declined compared to a initial entertain especially due to seasonally revoke prolongation following high prolongation levels in a initial quarter.

Operating money upsurge was NOK 1.0 billion for a second quarter. Net money used for investment activities amounted to NOK 0.5 billion. Dividends paid in a entertain amounted to NOK 1.7 billion. Hydro’s net debt position amounted to around NOK 1.3 billion during a finish of a second quarter.

Reported gain before financial equipment and taxation amounted to NOK 375 million in a second quarter. In further to a factors discussed above, reported EBIT enclosed net unrealized derivative waste and certain steel effects amounting to NOK 74 million in total, rationalisation and closure cost of NOK 86 million and divestment gains of NOK 16 million. In a before quarter, reported EBIT amounted to NOK 705 million including net unrealized derivative waste and certain steel effects amounting to NOK 294 million in sum and rationalisation and closure costs of NOK 78 million.

Loss from stability operations amounted to NOK 713 million in a second entertain including a net unfamiliar sell detriment of NOK 1,291 million. In a before quarter, income from stability operations amounted to NOK 254 million including a net unfamiliar sell detriment of NOK 115 million.

Income from dropped operations amounted to NOK 48 million in a second entertain including rationalisation and closure costs of NOK 77 million. In a before quarter, income from dropped operations amounted to NOK 9 million including rationalisation and closure costs of NOK 40 million.

Hydro has sole brazen around 50 percent of a approaching primary aluminium prolongation for a third entertain of 2013 during a cost turn of around USD 1,850 per mt. This excludes volumes from a Qatalum plant.