Company Market Research Report

Company Overview

Name and Mission of the Company

Name: Norsk Hydro ASA

Mission: To create more viable societies by developing natural resources into products and solutions in innovative and efficient ways.

Founding Information

Founded: 1905

Founders: No information is available

Key People

President and CEO: Eivind Kallevik

Other key people: No information is available

Headquarters

Address: Drammensveien 264, NO-0283 Oslo, Norway

Mailing Address: Norsk Hydro ASA, Postboks 980 Skøyen, NO-0240 Oslo, Norway

Switchboard: +47 22 53 81 00

Number of Employees

Employees: 33,000

Revenue

2023 Revenue: NOK 193,619 million

Adjusted EBITDA for 2023: NOK 22,258 million

Net Income from Continuing Operations (2023): NOK 2,804 million

Company Recognition

What is the Company Known For: Hydro is known for being a leading aluminium and renewable energy company that builds businesses and partnerships for a more sustainable future.

Products

Overview of Products

Hydro offers a range of aluminium and energy products. Here are high-level descriptions and key features:

1. Low-Carbon Aluminium

Hydro REDUXA: Primary aluminium produced using renewable power with a carbon footprint below 4 kg CO2e per kg aluminium.

Features: Uses renewable energy sources like wind, solar, and hydropower; low carbon footprint.

Hydro CIRCAL: Aluminium products made with at least 75% post-consumer scrap, with a footprint of 1.9 kg CO2e per kg aluminium.

Features: High recycled content, extremely low carbon footprint.

2. Recycling and Recycled Aluminium

Recycled Aluminium Products: Made from a combination of post-consumer and pre-consumer scrap as well as primary aluminium.

Features: Supports circular economy concepts, low carbon emissions.

3. Extruded Profiles

Applications: Building systems, precision tubes, welded tubes, poles.

Features: Customizable shapes, high strength, lightweight, corrosion-resistant.

4. Energy Products

Hydro Havrand: Green hydrogen technology projects.

Features: Focuses on zero-carbon aluminium production using green hydrogen.

Recent Developments

Major Announcements and Developments

1. Second Quarter 2024 Results (July 23, 2024)

Performance: Adjusted EBITDA was NOK 5,839 million, a decline from NOK 7,098 million the previous year due to various market pressures.

Revenue: Positive revenue drivers noted despite lower market volumes and rising costs.

2. Switch to Natural Gas at Alunorte (August 20, 2024)

Details: Hydro Alunorte starts using natural gas for alumina production, reducing CO2 emissions by 700,000 tonnes annually.

Investment: R$1.3 billion investment, contributing to a 30% reduction in carbon emissions at the refinery.

3. Partnership with Porsche

Announced Date: July 9, 2024

Scope: Deliver low-carbon aluminium, including Hydro REDUXA and Hydro CIRCAL for Porsche’s vehicle production.

Impact: Represents a new business model and showcases value through Hydro’s sustainable practices.

4. Hydro Rein Joint Venture with Macquarie Asset Management (June 24, 2024)

Details: Joint venture focused on renewable energy projects in the Nordics, selected European markets, and Brazil.

Ownership: Hydro owns 50.1%, Macquarie 49.9%.

New Product Launches

No new product launches mentioned.

New Features Added to Existing Products

Fuel Switch at Alunorte: Implementation of automation and modern technologies for process safety and efficiency in using natural gas.

Partnerships

Hydro and Macquarie Asset Management Joint Venture: Establishment of Hydro Rein for renewable energy projects.

Partnership with Porsche: Collaboration to use Hydro's low-carbon aluminium for Porsche's vehicle production.

Conclusion

This report provides key insights into Norsk Hydro ASA’s operational scope, product offerings, key developments, and strategic initiatives emphasizing sustainability and innovation. The recent performance, investments in cleaner energy alternatives, and new partnerships underscore Hydro’s commitment to leading the aluminium industry towards a sustainable future.