Hydro¡¯s underlying EBIT up 4.87% in Q4 2019 on higher production in Brazil

Hydro reported underlying earnings before financial items and tax of NOK 560 million in Q4 2019. That was up from NOK 534 million in Q4 2018 on positive effects from increased production in Brazil, lower raw material costs and positive currency effects, mostly offset by a decrease in the realized aluminium and alumina prices.

"We have taken firm measures in a weak market. Our improvement program as well as cash release ambition are ahead of plan. Our improvement efforts will continue with full force, in line with our agenda towards lifting profitability and driving sustainability,” said President and CEO Hilde Merete Aasheim.

Underlying EBIT for Primary Metal increased from negative NOK 677 million in Q4 2018 to positive NOK 155 million in Q4 2019. That result was attributed to lower raw material cost and positive currency effects, partly offset by lower all-in metal prices. Underlying EBIT for Metal Markets stood at NOK 132 million in Q4 2019, from NOK 275 million in Q4 2018.

Underlying EBIT for Rolled Products increased to positive NOK 34 million in Q4 2019. “The result from the rolling mills was stable. The Neuss smelter result increased, driven by lower raw material costs and insurance compensation, partly offset by lower all-in metal prices,” Hydro said.

Underlying EBIT for Extruded Solutions decreased from NOK 202 million in Q4 2018 to NOK 85 million in Q4 2019. That was mainly driven by lower volumes due to the declining market, partially offset by higher margins.

For 2019, Hydro's underlying EBIT stood at NOK 3,359 million, down from NOK 9,069 million in 2018 on lower realized aluminium and alumina prices, partly offset by the positive effects from increased production in Brazil, lower raw material costs and positive currency effects.

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