Hydro Q1 earnings plummet 82% on Alunorte curtailment, cyber attack

By IM Staff
Published: Wednesday, 05 June 2019

Earnings in January-March 2019 at the Norwegian aluminium producer were badly affected by the restrictions on production at its Alunorte refinery, and by lower prices and higher costs.

Aluminium producer Norsk Hydro’s underlying earnings before interest and taxes (Ebit) were Nkr559 million ($64.3 million) in the first quarter of 2019, down from Nkr3.147 billion in the corresponding quarter last year.

The decline of more than 80% mainly reflected lower realized aluminium prices, higher raw material...

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