Entering text into the input field will update the search result below

Norsk Hydro reports lower Q1 core profits

Jun. 05, 2019 10:02 AM ETNorsk Hydro ASA (NHYDY) StockNHYKFBy: Vandana Singh, SA News Editor
  • Norsk Hydro (OTCQX:NHYDY +2.6%) reported 82% Y/Y fall in Q1 underlying operating profit to NOK559M, mainly due to lower realized aluminium prices, higher raw material costs, production curtailment at the Alunorte alumina refinery, as well as impact of a cyber attack.
  • The cost of the cyber attack amounted to between NOK300M-NOK350M; the company expects the impact to continue in Q2 as well with an additional cost of NOK200M-NOK250M.
  • Bauxite production was down 41% to 1,361k mt, with Alumina production -37% to 805k mt, and Primary aluminium production declined 6% to 485k mt
  • Aluminium price LME of $1,912/mt was down 11%
  • The earnings report was originally scheduled on April 30, had been postponed by five weeks as Hydro struggled to restore systems for reporting, billing and invoicing after hackers penetrated its servers.
  • Previously: Norsk Hydro reports Q1 results (June 5)

Recommended For You

More Trending News

About NHYDY Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
NHYDY--
Norsk Hydro ASA