Norsk Hydro ASA (NHYDY.PK) reported Tuesday that second-quarter underlying income from continuing operations dropped 38% to NOK 1.34 billion from NOK 2.15 billion in the second quarter of 2007, mainly due to the weakening US dollar and an industry-wide rise in upstream input costs that more than offset the positive effect of higher aluminum prices. Underlying earnings per share from continuing operations fell 41% to NOK 1.00 from NOK 1.70 in the prior-year quarter.
Second-quarter income from continuing operations was NOK 902 million or NOK 0.70 per share, down 65% from NOK 2.58 billion or NOK 2.00 per share in 2007. Quarterly revenue declined by 4% to NOK 23.98 billion from NOK 25.04 billion last year.
The company noted that second-quarter underlying results for Aluminum Products increased substantially from the first quarter of 2008, driven by a significant improvement in the company's Rolled Products business. Lower spot prices for electricity in Norway negatively affected Hydro's Energy business during the quarter.
Looking ahead, Hydro expects a moderate market slowdown for semi-fabricated products in Europe on top of seasonally lower demand, impacting business in the second half of the year. In the US, the company expects the market for semi-fabricated products to remain at the current depressed levels.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.