Norsk Hydro ASA (NHYDY), an aluminium and renewable energy company, on Wednesday reported lower first-quarter earnings, mainly impacted by decline revenue.
Earnings before financial items and tax (EBIT) fell to NOK 4.396 billion from NOK 8.016 billion a year earlier.
Excluding one-time items, adjusted EBIT decreased 13% to NOK 6.075 billion from NOK 6.998 billion last year.
EBITDA declined to NOK 7.095 billion from NOK 10.815 billion in the prior-year quarter, while adjusted EBITDA came in at NOK 8.668 billion, down from NOK 9.516 billion.
Net income decreased to NOK 4.341 billion or NOK 2.16 per share from NOK 5.861 billion or NOK 2.45 per share a year earlier
Adjusted net income was NOK 4.062 billion, up from NOK 3.998 billion a year earlier, while adjusted earnings per share increased to NOK 2.07 from NOK 1.63 in the same period last year
Revenue fell to NOK 50.388 billion from NOK 57.094 billion in the same period last year.
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