Free Trial

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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.