Norsk Hydro: Accelerating the green aluminium transition
Norsk Hydro (NHYDY) reported strong financial performance in 2024, with adjusted EBITDA reaching NOK 26,318 million, up from NOK 22,258 million in 2023. The increase was driven by higher alumina prices, lower raw material costs, and positive currency effects, partially offset by lower extrusions and recycling volumes, and higher fixed costs.
The company achieved a five-year adjusted RoaCE of 12%, exceeding its 10% target, though 2024's figure was 8.5%. Hydro has delivered NOK 10.1 billion from improvement programs since 2018, surpassing its NOK 9.5 billion target. Commercial initiatives generated NOK 2.6 billion in value.
The company plans to distribute NOK 4.5 billion to shareholders for 2024, representing 50% of adjusted net income. Since 2019, Hydro has distributed NOK 35.7 billion to shareholders. The company has already reached its 2025 decarbonization targets and continues to focus on green aluminum transition initiatives.
Norsk Hydro (NHYDY) ha riportato una forte performance finanziaria nel 2024, con un EBITDA rettificato che ha raggiunto NOK 26.318 milioni, in aumento rispetto ai NOK 22.258 milioni del 2023. L'aumento è stato guidato da prezzi più elevati dell'allumina, costi delle materie prime più bassi e effetti positivi delle valute, parzialmente compensati da volumi di estrusione e riciclaggio inferiori e da costi fissi più elevati.
L'azienda ha raggiunto un RoaCE rettificato di cinque anni del 12%, superando il target del 10%, sebbene il dato del 2024 sia stato dell'8,5%. Hydro ha generato NOK 10,1 miliardi da programmi di miglioramento dal 2018, superando l'obiettivo di NOK 9,5 miliardi. Le iniziative commerciali hanno generato un valore di NOK 2,6 miliardi.
L'azienda prevede di distribuire NOK 4,5 miliardi agli azionisti per il 2024, rappresentando il 50% dell'utile netto rettificato. Dal 2019, Hydro ha distribuito NOK 35,7 miliardi agli azionisti. L'azienda ha già raggiunto i suoi obiettivi di decarbonizzazione per il 2025 e continua a concentrarsi su iniziative di transizione verso l'alluminio verde.
Norsk Hydro (NHYDY) reportó un sólido desempeño financiero en 2024, con un EBITDA ajustado que alcanzó NOK 26,318 millones, un aumento desde NOK 22,258 millones en 2023. El incremento fue impulsado por precios más altos de alumina, menores costos de materias primas y efectos positivos de divisas, compensados parcialmente por menores volúmenes de extrusión y reciclaje, y mayores costos fijos.
La compañía logró un RoaCE ajustado a cinco años del 12%, superando su objetivo del 10%, aunque la cifra de 2024 fue del 8.5%. Hydro ha generado NOK 10.1 mil millones de programas de mejora desde 2018, superando su meta de NOK 9.5 mil millones. Las iniciativas comerciales generaron un valor de NOK 2.6 mil millones.
La empresa planea distribuir NOK 4.5 mil millones a los accionistas para 2024, representando el 50% de la utilidad neta ajustada. Desde 2019, Hydro ha distribuido NOK 35.7 mil millones a los accionistas. La compañía ya ha alcanzado sus objetivos de descarbonización para 2025 y continúa enfocándose en iniciativas de transición hacia el aluminio verde.
Norsk Hydro (NHYDY)는 2024년에 강력한 재무 성과를 보고했으며, 조정된 EBITDA는 NOK 26,318 백만에 달하여 2023년의 NOK 22,258 백만에서 증가했습니다. 이 증가는 높은 알루미나 가격, 낮은 원자재 비용 및 긍정적인 환율 효과에 의해 주도되었으나, 낮은 압출 및 재활용 물량과 높은 고정 비용으로 부분적으로 상쇄되었습니다.
회사는 5년간 조정된 RoaCE가 12%에 달하여 10% 목표를 초과했으나, 2024년 수치는 8.5%였습니다. Hydro는 2018년 이후 개선 프로그램을 통해 NOK 10.1억을 창출하여 NOK 9.5억 목표를 초과했습니다. 상업적 이니셔티브는 NOK 2.6억의 가치를 생성했습니다.
회사는 2024년에 주주에게 NOK 4.5억을 배당할 계획이며, 이는 조정된 순이익의 50%를 나타냅니다. 2019년 이후 Hydro는 주주에게 NOK 35.7억을 배당했습니다. 회사는 이미 2025년 탈탄소화 목표를 달성했으며, 녹색 알루미늄 전환 이니셔티브에 계속 집중하고 있습니다.
Norsk Hydro (NHYDY) a annoncé une forte performance financière en 2024, avec un EBITDA ajusté atteignant NOK 26,318 millions, en hausse par rapport à NOK 22,258 millions en 2023. Cette augmentation a été tirée par des prix plus élevés de l'alumine, des coûts de matières premières plus bas et des effets de change positifs, partiellement compensés par des volumes d'extrusion et de recyclage plus faibles et des coûts fixes plus élevés.
L'entreprise a atteint un RoaCE ajusté de 12 % sur cinq ans, dépassant son objectif de 10 %, bien que le chiffre de 2024 soit de 8,5 %. Hydro a généré NOK 10,1 milliards grâce à des programmes d'amélioration depuis 2018, dépassant son objectif de NOK 9,5 milliards. Les initiatives commerciales ont généré une valeur de NOK 2,6 milliards.
L'entreprise prévoit de distribuer NOK 4,5 milliards aux actionnaires pour 2024, représentant 50 % du bénéfice net ajusté. Depuis 2019, Hydro a distribué NOK 35,7 milliards aux actionnaires. L'entreprise a déjà atteint ses objectifs de décarbonisation pour 2025 et continue de se concentrer sur des initiatives de transition vers l'aluminium vert.
Norsk Hydro (NHYDY) berichtete 2024 über eine starke finanzielle Leistung, wobei das bereinigte EBITDA NOK 26.318 Millionen erreichte, ein Anstieg von NOK 22.258 Millionen im Jahr 2023. Der Anstieg wurde durch höhere Alumina-Preise, niedrigere Rohstoffkosten und positive Währungseffekte vorangetrieben, die teilweise durch niedrigere Extrusions- und Recyclingvolumina sowie höhere Fixkosten ausgeglichen wurden.
Das Unternehmen erzielte einen bereinigten RoaCE von 12% über fünf Jahre und übertraf damit das Ziel von 10%, wobei die Zahl für 2024 jedoch bei 8,5% lag. Hydro hat seit 2018 NOK 10,1 Milliarden aus Verbesserungsprogrammen erzielt und damit das Ziel von NOK 9,5 Milliarden übertroffen. Kommerzielle Initiativen generierten einen Wert von NOK 2,6 Milliarden.
Das Unternehmen plant, NOK 4,5 Milliarden an die Aktionäre für 2024 auszuschütten, was 50% des bereinigten Nettogewinns entspricht. Seit 2019 hat Hydro NOK 35,7 Milliarden an die Aktionäre ausgeschüttet. Das Unternehmen hat bereits seine Dekarbonisierungsziele für 2025 erreicht und konzentriert sich weiterhin auf Initiativen zur Umstellung auf grünes Aluminium.
- Adjusted EBITDA increased to NOK 26,318 million in 2024 (up from NOK 22,258 million in 2023)
- Five-year adjusted RoaCE of 12% exceeded 10% target
- Delivered NOK 10.1 billion from improvement programs, surpassing NOK 9.5 billion target
- Commercial initiatives generated NOK 2.6 billion in value
- Achieved 2025 decarbonization targets ahead of schedule
- 2024 RoaCE declined to 8.5%, below the 10% target
- Lower extrusions and recycling volumes reported
- Higher fixed costs impacted performance
2024 was characterized by increasing geopolitical tensions and unpredictability. Despite challenging market conditions, Hydro is strengthening its position in the market. Hydro is on a solid path executing on its 2030 ambition of pioneering the green aluminium transition, powered by renewable energy.
The green transition is progressing and aluminium demand from sectors supporting it remains robust. Realizing the low-carbon circular economy requires bold moves and Hydro is determined to accelerate the green aluminium transition.
“We are committed to execute on our strategy. Important milestones driving the green aluminium transition have been reached in all parts of the company in 2024 and we are well positioned to reach our ambitions for 2030,” says Eivind Kallevik, President and CEO of Hydro, in his Letter to Stakeholders in the Integrated Annual Report 2024.
Adjusted EBITDA for the full year of 2024 amounted to NOK 26,318 million, compared with NOK 22,258 million in 2023. Higher alumina price, lower raw material costs, and positive currency effects were partly offset by lower extrusions and recycling volumes, and higher fixed costs.
Hydro had an adjusted RoaCE of 12 percent over the last five years, above the target of 10 percent over the cycle. Reflecting the current volatile market environment, and a year with high growth and return-seeking investments, the adjusted RoaCE for 2024 ended at 8.5 percent.
Hydro has delivered NOK 10.1 billion from improvement programs since 2018, surpassing the NOK 9.5 billion target set last year. Commercial initiatives have generated NOK 2.6 billion in value. These initiatives and improvement programs enhance Hydro’s competitive edge and support earnings resilience across economic cycles.
Improved earnings allow for competitive shareholder returns. Since 2019, Hydro has distributed NOK 35.7 billion to shareholders, with a proposal to pay out another NOK 4.5 billion for 2024, representing 50 percent of adjusted net income.
Positioned to succeed towards 2030
Hydro has already reached the 2025 decarbonization targets and in 2024 key milestones were achieved on the path to the 2030 and 2050 targets. Multiple initiatives are being pursued to reduce greenhouse gas emissions within smelting, casting and recycling. There is a growing demand of sustainable materials, and partnerships help to position and accelerate greener earnings uplift. Hydro continues to be robust while improving efficiency and sustainability through technology and innovation.
Aluminium demand is set to increase significantly towards 2050, driven by the green transition. This creates opportunities for Hydro's low-carbon and recycled products. Hydro continues to thrive in a decarbonizing world with certified, traceable and low-carbon solutions. Hydro is well positioned for its journey towards the 2030 strategy, and constantly adapts to an evolving geopolitical and macro-economic landscape. Going forward Hydro will continue to push on executing growth, value creation and sustainability.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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