Third quarter 2021 Report

2

Third quarter 2021

Hydro

Hydro

Third quarter 2021

3

Third

Third

Change

Second

Change

First 9

First 9

Key financial information

quarter

quarter

prior year

quarter

prior

months

months

Year

NOK million, except per share data

2021

2020

quarter

2021

quarter

2021

2020

2020

Revenue

36,710

27,516

33 %

34,559

6 %

103,221

84,468

114,291

Earnings before financial items, tax, depreciation and

4,610

3,651

26 %

4,899

(6) %

13,588

9,790

18,390

amortization (EBITDA)

Adjustments to EBITDA1)

2,608

(551)

>100 %

1,698

54 %

5,410

(86)

(5,284)

Adjusted EBITDA1)

7,219

3,100

>100 %

6,598

9 %

18,998

9,704

13,106

Adjusted EBITDA :

Hydro Bauxite & Alumina

1,055

578

83 %

855

23 %

2,909

3,229

3,817

Hydro Aluminium Metal

4,263

404

>100 %

2,807

52 %

8,824

2,161

3,593

Hydro Metal Markets

170

233

(27) %

335

(49) %

583

588

875

Hydro Extrusions

1,457

1,412

3 %

1,830

(20) %

5,031

3,304

4,348

Hydro Energy

465

200

>100 %

761

(39) %

2,067

827

1,245

Other and eliminations

(192)

272

>(100) %

10

>(100) %

(416)

(405)

(771)

Adjusted EBITDA :1)

7,219

3,100

>100 %

6,598

9 %

18,998

9,704

13,106

Earnings before financial items and tax (EBIT)2)

2,533

1,893

34 %

3,034

(17) %

7,801

2,533

9,356

Adjusted EBIT1)

5,309

1,419

>100 %

4,891

9 %

13,759

4,363

6,040

Net income (loss) from continuing operations

1,127

(111)

>100 %

2,397

(53) %

5,405

(3,340)

3,886

Adjusted net income (loss) from continuing operations1)

3,498

607

>100 %

3,150

11 %

9,095

1,759

2,848

Net income (loss) from discontinued operations3)

(19)

(111)

83 %

407

>(100) %

8

(377)

(2,226)

Earnings per share from continuing operations

0.50

(0.05)

>100 %

1.06

(53) %

2.45

(1.42)

1.99

Adjusted earnings per share from continuing operations1)

1.60

0.28

>100 %

1.45

10 %

4.20

0.84

1.32

Financial data:

Investments1) 2)

1,957

1,396

40 %

1,689

16 %

4,916

4,171

13,324

Net cash (debt)1)

(1,221)

(9,866)

88 %

(3,574)

66 %

(1,221)

(9,866)

(7,795)

Adjusted net cash (debt)1)

(10,520)

(26,463)

60 %

(10,231)

(3) %

(10,520)

(26,463)

(23,297)

Third

Third

Change

Second

Change

First 9

First 9

quarter

quarter

prior year

quarter

prior

months

months

Year

Key Operational information

2021

2020

quarter

2021

quarter

2021

2020

2020

Bauxite production (kmt)4)

2,756

1,167

>100 %

2,660

4 %

8,230

6,084

8,640

Alumina production (kmt)

1,579

1,074

47 %

1,586

-

4,705

4,047

5,457

Realized alumina price (USD/mt)5)

302

260

16 %

289

5 %

295

267

268

Primary aluminium production (kmt)

573

522

10 %

561

2 %

1,673

1,559

2,091

Realized aluminium price LME (USD/mt)

2,419

1,596

52 %

2,210

9 %

2,204

1,649

1,685

Realized USD/NOK exchange rate

8.64

9.22

(6) %

8.38

3 %

8.52

9.52

9.42

Hydro Extrusions sales volumes to external market (kmt)

315

278

13 %

342

(8) %

995

807

1,099

Power production (GWh)

1,688

3,161

(47) %

2,374

(29) %

6,919

8,126

11,522

  1. Alternative performance measures (APMs) are described in the corresponding section in the back of the report.
  2. EBITDA and investments per segment are specified in Note 2: Operating segment information.
  3. Net income (loss) from discontinued operations includes results from Hydro's Rolling business up to divestment on June 1 and all prior periods.
  4. Paragominas production on wet basis.
  5. Weighted average of own production and third party contracts. The majority of the alumina is sold linked to the alumina index with a one month delay.

4

Third quarter 2021

Hydro

Hydro

Third quarter 2021

5

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Norsk Hydro ASA published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 07:55:02 UTC.