Hydro Q4 earnings down significantly due to Alunorte curtailment
Published: Thursday, 07 February 2019
Producer Norsk Hydro's underlying operating profit dropped almost 85% in the fourth quarter due to the effects of its production curtailment at its Brazilian alumina refinery, Alunorte.
By Alice Mason
In its biggest quarterly loss since 2015, the
company’s underlying earnings before financial
items and tax (Ebit) decreased to NOK 534 million ($62.32
million) in the fourth quarter, down from NOK 3,555 million
($414.90 million) in the same quarter last year.