logo
  

Norsk Hydro Turns To Profit In Q2 - Quick Facts

Norwegian energy and aluminum company Norsk Hydro ASA (NHY,NHYDY.PK,NHYDY.PK) reported that its second-quarter net income attributable to shareholders was 2.59 billion Norwegian Kroner or 1.26 Kroner per share compared to a loss of 1.25 billion Kroner or 0.61 Kroner per share in the same quarter last year.

The latest-quarter result included a net foreign exchange gain of 550 million Kroner and a 1.65 billion Kroner unrealized loss on LME-related contracts.

Adjusted EBITDA was 6.60 billion Kroner, up from 2.79 billion Kroner in the prior year.

Total revenue and income for the quarter grew to 35.34 billion Kroner from 26.08 billion Kroner last year.

The company said its target to deliver return on capital above 10% over the cycle is progressing well and its improvement program is running ahead of plan.

In addition, the company said it is actively positioning its products in the market, lifting its capacity to meet the increasing demand for low-carbon products in line with its 2025 strategy to improve profitability and sustainability.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Pfizer has again expanded the earlier two recalls of its anti-smoking Drug Chantix (Varenicline) in the form of tablets, to now include all the lots, for the potential presence of nitrosamine impurity, N-Nitroso- varenicline, at or above the FDA interim acceptable intake limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Department store chain Sears is closing down its last store located in its home state of Illinois, CNBC reported. The company, which was founded in Chicago in 1892, plans to shut the shop, located in Simon Property Group's Woodfield Mall, on November 14. Sears' parent company, Transformco, which also manages the real estate, said it plans to maximize the value of the Woodfield Mall property and Amazon said over 1 million people have applied for a job at the tech major as part of its Career Day 2021. Job seekers from more than 170 countries have participated in the virtual event. In addition, more than 2,000 Amazon recruiters offered 30,000 individual career coaching sessions with participants in a single day.
RELATED NEWS
Follow RTT