February 14, 2025 07:51 GMT
BASIC INDUSTRIES: Norsk Hydro (NHYNO Baa2/BBB/NR): 4Q24 Results
BASIC INDUSTRIES
No credit impact.
- Norsk Hydro reported revenue 6% ahead of consensus, on strong pricing.
- Adj. EBITDA missed by 6%, driven by higher-than-expected negative adjustments including derivatives; we would look past that.
- Company defined FCF was NOK1.7bn. We see NOK2.2bn versus 1.8bn expected. Net leverage stood at 0.9x, little changed YoY and QoQ.
- It sees limited tariff impacts, with significant domestic sourcing; it also expects pass through to pricing in the US.
- Webcast 07.30 GMT https://app.livestorm.co/norsk-hydro/hydro-q4-2024-results.
70 words