Latest news with #Hydro
The National
a day ago
- Entertainment
- The National
Biffy Clyro announce Glasgow Hydro gig – how to get tickets
Biffy Clyro will perform at the Hydro on January 21 as part of their The Futique Tour. The group, which formed in Kilmarnock, East Ayrshire, in 1995, consists of Simon Neil, James Johnston, and Ben Johnston. READ MORE: World's tallest cinema in Scottish city 'at risk of closure' They are known for their mega tunes, including Many of Horror, Bubbles, Space, Oppostie, and That Golden Rule. Announcing the show, the OVO Hydro said: "Local lads - and rock gods - Biffy Clyro are returning to the OVO Hydro for the epic final night of The Futique Tour on January 21, 2026." ANNOUNCED 📣 Local lads - and rock GODS - @BiffyClyro are returning to the OVO Hydro for the epic final night of The Futique Tour on 21 January 2026 🤘#OVOLive presale | 10am, Tue 29 July Tickets onsale | 10am, Thu 31 July ➡️ — OVO Hydro (@OVOHydro) July 24, 2025 Tickets for the band's Glasgow show will go on sale from Thursday, July 31, at 10am. However, fans will be able to grab presale tickets from Tuesday, July 29, at 10am.
Yahoo
4 days ago
- Business
- Yahoo
Norsk Hydro: Performance and capital discipline, supporting strong results
Hydro's adjusted EBITDA for the second quarter of 2025 was NOK 7,790 million, up from NOK 5,839 million in the same quarter last year. The results increased from higher aluminium and energy prices, and realization of previously eliminated internal profits. This was partly offset by negative currency effects and higher raw material costs, mainly driven by higher alumina cost. Hydro generated NOK 5 billion in free cash flow, while the twelve month adjusted RoaCE ended at 12 percent. Strong results amid uncertain markets Reducing capital expenditure target for 2025 by NOK 1.5 billion, to NOK 13.5 billion Introducing external hiring freeze and structured review of white collar workforce Robust power sourcing portfolio amid challenging wind and solar markets Improvement programs ahead of target for 2025 "I am pleased with the strong results this quarter, as the global market uncertainty is continuing. Hydro is taking proactive measures to reinforce our long-term resilience and operational efficiency. We are taking down our 2025 capital expenditure guiding by NOK 1.5 billion. Hydro has also implemented an external hiring freeze for white collar workers, pending a review of current and future manning needs,' says Eivind Kallevik, President and CEO of Hydro. The global market has become increasingly uncertain, shaped by geopolitical tensions and shifting regulation. This heightened uncertainty complicates demand forecasting and capacity planning, and in response Hydro is reducing the capital expenditure guidance for 2025 by NOK 1.5 billion, to NOK 13.5 billion, to ensure financial flexibility. Under the current political environment, investments will focus on flexibility, risk mitigation, and responsiveness to changing economic and policy conditions. 'We believe in the aluminium industry and we see demand for low-carbon aluminium continuing to grow. In the current situation, our focus is on preserving financial strength, improving capital efficiency, and maintaining room to maneuver. We have so far not seen big changes to our operations from tariffs and potential trade wars. Our main concern is whether the uncertainty will lead to a global economic downturn,' says Kallevik. While long-term growth remains central to Hydro's strategy, near-term priorities have shifted to operational efficiency, cost control and maintaining optionality. The ambition is to position the company to respond decisively as conditions evolve and opportunities arise. In June, Hydro launched a structured review of the number of white collar positions to ensure alignment with strategic priorities and operational efficiency. This is part of a broader effort to reinforce financial discipline and enhance organizational flexibility. The review will help the company assess its current and future manning needs. On June 10, Hydro therefore implemented an external hiring freeze for white collar positions. Recruitment for blue collar positions in the business areas will continue as planned. Reliable access to renewable energy is critical to Hydro's low-carbon aluminium strategy. Since the fourth quarter of 2024, Hydro's second largest wind power supplier in Sweden, Cloud Snurran AB, has faced financial and operational challenges. This has resulted in non-delivery of contracted volumes. Consequently, the power purchase agreement (PPA) between the parties was voluntarily terminated by mutual agreement in July 2025, with a negotiated compensation to Hydro of up to EUR 90 million. This development, along with previous challenges at Markbygden Ett AB, highlights broader risks in the Swedish wind market, particularly related to underperformance in production volumes leading to financial distress among producers. While wind energy remains an important part of the mix, these events reinforce the value of Hydro's diversified and robust sourcing portfolio. The sourcing situation for the Norwegian smelters remains robust through 2030, and Hydro continues to actively pursue cost competitive renewable power opportunities. In Brazil, ongoing grid constraints, transmission bottlenecks, and regulatory uncertainty have continued to limit solar and wind power deliveries, pressuring both volumes and pricing. Reflecting these structural challenges, Hydro has revised its return requirements for energy investments in the region. As a result, impairments of approximately NOK 400 million were recognized across parts of the energy portfolio. Despite these headwinds, operations at Albras, Alunorte and Paragominas remain stable, supported by renewable energy delivered under long-term PPAs. Hydro targets NOK 6.5 billion in accumulated improvements by 2030, with 70 percent of the 2025 estimate of NOK 600 million achieved year to date, driven by operational, procurement and commercial initiatives. In the operational improvement program, Hydro Extrusions targets to reduce more than 100 full time equivalents by 2025 through automation to further boost productivity, safety, ergonomics and quality. In the commercial excellence program, greener product sales increased by approximately 50 percent year-to-date 2025 versus the previous year in upcharge revenue. The achievements include the first Hydro CIRCAL contract with a major North American automaker and a strong growth in low-carbon product sales. On June 4, Hydro successfully completed the placement of its inaugural European Green Bond, issuing EUR 500 million in senior unsecured notes under its Euro Medium Term Note (EMTN) programme. The 8 year bond, carrying a fixed annual coupon of 3.75 percent (3.779 percent reoffer yield), attracted strong investor interest and was listed on Euronext Dublin on June 17, 2025. Proceeds will be allocated to eligible green projects aligned with Hydro's Green Bond and market development per business area Adjusted EBITDA for Bauxite & Alumina decreased compared to the second quarter last year, to NOK 1,521 million from NOK 1,616 million, mainly driven by higher cost of raw materials, increased fixed costs and lower alumina sales prices, partly offset by currency and positive effect from gas implementation. PAX traded down to USD 329 per mt at the beginning of the quarter, before recovering to USD 358 per mt by quarter end. The price evolution reflected a relatively balanced alumina market in China, with supply constrained by refinery maintenance and production curtailments. Meanwhile, Guinea revoked several bauxite mining licenses during the quarter, but China's bauxite supply-demand balance remains stable, supported by stockpiles and alternative import sources. Adjusted EBITDA for Hydro Energy increased in the second quarter compared to the same period last year, to NOK 1,069 million from NOK 611 million. The increase was mainly due to higher production and higher gain on price area differences. Average Nordic power prices in the second quarter of 2025 decreased compared to the previous quarter and the same quarter last year. The decrease in prices from last year was primarily due to hydrology, while the decrease compared to the previous quarter was mainly due to lower seasonal demand. Price area differences between the south and north of the Nordic market regions increased compared to the same quarter last year and the previous quarter as the northern areas were influenced by strong hydrology. Adjusted EBITDA for Aluminium Metal decreased in the second quarter of 2025 compared to the second quarter of 2024, to NOK 2,423 million from NOK 2,520 million, mainly due to higher alumina cost, lower sales volume and negative currency effects, partly offset by higher all-in metal prices and lower energy cost. Global primary aluminium consumption was up 2.2 percent compared to the second quarter of 2024, driven by a 4.1 percent increase in World ex. China. The three month aluminium price increased throughout the second quarter of 2025, starting the quarter at USD 2,507 per mt and ending at USD 2,598 per mt. Adjusted EBITDA for Metal Markets decreased in the second quarter of 2025 compared to the same period last year, to NOK 276 million from NOK 309 million due to lower results from sourcing and trading activities, partly offset by increased results from recyclers. Adjusted EBITDA for Extrusions decreased in the second quarter of 2025 compared to the same quarter last year, to NOK 1,260 million from NOK 1,377 million driven by lower sales margins, partly compensated by higher sales volumes and lower fixed cost. European extrusion demand is estimated to have been flat in the second quarter of 2025 compared to the same quarter last year, but increasing 4 percent compared to the first quarter. Demand for building & construction and industrial segments has stabilized at moderate levels with some uptick in order bookings throughout the quarter. Automotive demand has been negatively impacted by lower European light vehicle production in the first quarter, partly offset by increased production of electric vehicles. North American extrusion demand is estimated to have decreased 1 percent in the second quarter of 2025 compared to the same quarter last year, but increased 5 percent compared to the first quarter. Extrusion demand has continued to be very weak in the commercial transport segment driven by lower trailer builds. Automotive demand has also been weak. Demand has been positive in the building & construction and industrial segments. While the impacts from the introduction of tariffs and duties are still uncertain at this stage, order bookings have started to develop better for domestic producers due to lower key financials Compared to the first quarter of 2025, Hydro's adjusted EBITDA decreased to NOK 7,790 million from NOK 9,516 million, mainly due to lower realized alumina price and negative currency effects, partly offset by realization of previously eliminated internal profits, normalization of alumina sales volumes, and positive raw material costs. Net income (loss) amounted to NOK 2,450 million in the second quarter of 2025. Net income (loss) included a NOK 480 million unrealized derivative loss, mainly on LME related contracts, and a net foreign exchange gain on risk management instruments of NOK 72 million. The result also included impairment in equity accounted investments of NOK 392 million and NOK 102 million in rationalization charges and closure costs. Further, foreign exchange losses of NOK 508 million was also adjusted for. The tax effect on these adjustments reflected a standardized tax rate for taxable gains and tax-deductible losses. Hydro's net debt increased from NOK 15.1 billion to NOK 15.5 billion during the second quarter of 2025. The net debt increase was mainly driven by EBITDA contribution and net operating capital release being more than offset by shareholder distributions. Adjusted net debt increased from NOK 21.8 billion to NOK 23.0 billion, which was a combination of both increased net debt of NOK 0.4 billion and increased adjustments of NOK 0.8 billion, driven by increased net pension liability and increased financial liabilities. Reported earnings before financial items and tax (EBIT), and net income include effects that are disclosed in the quarterly report. Adjustments to EBITDA, EBIT and net income (loss) are defined and described as part of the alternative performance measures (APM) section in the quarterly report. Investor contact:Martine Rambøl Hagen+47 Media contact:Halvor Molland+47 information was submitted for publication from Hydro Investor Relations and the contact persons set out above. Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream businesses; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors. No assurance can be given that such expectations will prove to have been correct. Except where required by law, Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Attachments Report Q2 2025 NHY presentation Q2 2025Melden Sie sich an, um Ihr Portfolio aufzurufen.
Scotsman
4 days ago
- Sport
- Scotsman
Josh Taylor makes retirement decision as boxer forced into call on glittering career
The Prestonpans fighter has explained the reasons behind his emotional retirement decision Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Josh Taylor has retired from boxing with immediate effect, bringing an end to his glittering career. Following a defeat by Ekow Essuman in May, the fighter from Prestonpans has been advised by specialists that continuing in the sport would put his eyesight at risk. Taylor had eye surgery in February last year and now medical advice is that it's no longer suitable for him to continue. Advertisement Hide Ad Advertisement Hide Ad Going by 'The Tartan Tornado', Taylor is one of Scotland's greatest ever fighters. He won Commonwealth Games gold at Glasgow 2014 and enjoyed an incredible rise within the professional arena that resulted in him being crowned a world champion after just 15 fights, unified champion in the next bout and undisputed light-welterweight champion after 18. Why has Josh Taylor retired from boxing? Taylor still stands as the only male fighter from the UK to claim all four belts in a single division. Taking to social media in an emotional address, Taylor said: "Right folks, this isn't an easy post for me to write, but on the advice of my doctors, it's sadly a necessary one. As has been publicised before, I've had a recurring issue with my eye that unfortunately means I now have to call time on my career or risk losing my eyesight. "Whilst the fighter in me always wants to box on, I know I have to listen to the medical professionals and save me from myself. It is certainly not the way I wanted to bow out but I have to listen to the doctors and those around me. "I am just a kid from the Pans who scaled the very top of the sport but I could not have done it without those who have supported me through thick and thin. First and foremost, I cannot thank you - the fans - enough. You always gave me your all, spending your hard earned money to come and watch me fight. Advertisement Hide Ad Advertisement Hide Ad Josh Taylor sends message after retirement "Especially the thousands that travelled to watch me box at Madison Square Garden. Your support has always meant the world to me and I have never taken it for granted. Top Top Rank (Bob, Carl, Brad, Jeremy and Mel T), you helped turn my dreams into a reality in becoming undisputed world champion and boxing me in Vegas and MSG. More recently, I wanted to thank Frank and George Warren and Queensberry for giving me the opportunity to headline at the Hydro once more in front of the fans that I love. "I know that British boxing, and Scottish boxing in particular, is an exciting place with the focus that you have on bringing through the next generation of world champions. To my coaches over the years, Terry McCormack, Shane McGuigan, Ben Davison and most recently Joe McNally - thank you for all the time, energy and guidance you've invested in me, taking me to the very heights (sic) of the sport. "And finally, my family and my beautiful wife Danielle, who's been by my side every step of the way. Words will never do justice to what your unwavering love and support means to me. It's now time for me to reflect on a 1 in 70 million career and look forward to what's coming next. Thank you once again and God bless."
Daily Record
4 days ago
- Sport
- Daily Record
Josh Taylor retires aged 34 as undisputed Scottish boxing hero told by doctors his career is over
The Tartan Tornado has called time on 10-year professional career as he created boxing history. Legendary Scottish boxer Josh Taylor has called time on his illustrious boxing career after doctors urged him to retire due to a serious eye injury. The Tartan Tornado thrilled fans during his 10-year career as he became the country's first ever undisputed champion after he unified the light welterweight division with stunning wins over Regis Prograis and Jose Ramirez. But Taylor's career has been blighted by setbacks in recent times as he controversially earned the nod over English rival Jack Catterall in 2022 before losing to Teofimo Lopez and Catterall in consecutive fights. And the former Commonwealth Games 2014 Gold medalist lost to unheralded Ekow Essuman in May before doctors stepped in to urge him to walk away. Taylor, in an emotional statement, said: "Right folks, this isn't an easy post for me to write, but on the advice of my doctors, it's sadly a necessary one. "As has been published before, I've had a recurring issue with my eye that unfortunately means I now have to call time on my career or risk losing my eyesight. Whilst the fighter in me always wants to box on, I know I have to listen to the medical professionals and save me from myself. It is certainly not the way I wanted to bow out, but I have to listen to the doctors and those around me. "I am just a kid from the Pans who scaled the very top of the sport but I could not have done it without those who have supported me, through thick and thin. "First and foremost, I cannot thank you, the fans, enough. You always gave me your all, spending your hard earned money to come and watch me fight. Especially the thousands that travelled to watch me box at Madison Square Garden. Your support has always meant the world to me and I have never taken it for granted. "To Top Rank (Bob, Carl, Brad, Jeremy and Mel T), you helped turn my dreams into a reality in becoming undisputed world champion and boxing me in Vegas and MSG. "More recently, I want to thank Frank and George Warren at Queensberry for giving me the opportunity to headline at the Hydro once more in front of the fans that I love. "I know that British boxing, and Scottish boxing in particular, is in an exciting place with the focus that you have on bringing through the next generation of world champions. "A massive thank you to all of my sponsors over the years, and in particular, Ross at Seconds Out Fight Store who's supported me from the very start when I competed at the Commonwealth Games. "To my lawyer, Tom Grant, aka Jerry Maguire, aka Big Tam, thank you for navigating this mad sport with me and always having my back. I only wish we'd met 10 years earlier. "To my coaches over the years - Terry McCormack, Shane McGuigan, Ben Davison, and most recently Joe McNally - thank you for all the time, energy, and guidance you've invested in me, taking me to the very heights of the sport. "And finally, my family and my beautiful wife, Danielle, who's been by my side every step of the way. Words will never do justice to what your unwavering love and support means to me. "It's now time for me to reflect on a 1 in 70 million career and look forward to what's coming next. Thank you once again, and God bless. Josh Taylor, Undisputed Champion of the World." You can get all the news you need on our dedicated Celtic page, and sign up to our newsletters to make sure you never miss a beat throughout the season.
Scottish Sun
4 days ago
- Sport
- Scottish Sun
Josh Taylor announces shock RETIREMENT from boxing as former undisputed champion admits he has to ‘save me from myself'
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) JOSH TAYLOR has shocked the boxing world by announcing his retirement from the sport. The 34-year old former undisputed world champion has revealed the bombshell news, saying it's down to doctor's orders. Sign up for Scottish Sun newsletter Sign up 4 Josh Taylor was undisputed champion Credit: PA 4 He fought Jack Catterall in Glasgow in 2022 Credit: Kenny Ramsay 4 Taylor fought in Las Vegas Credit: Getty Images - Getty 4 Taylor thanked his wife Danielle in an emotional post Credit: Kenny Ramsay Taylor scaled to the very top of the boxing landscape, becoming an undisputed light-welterweight champion. He held the WBA, WBC, WBO and Ring magazine titles and was also a medallist at the Commonwealth Games. A controversial win over Jack Catterall in Glasgow in February 2022 saw Taylor move to 19-0 in his professional career. But he lost his last three fights, with May's unanimous decision defeat to Ekow Essuman at the Hydro now going down as his final bout. Taylor took to social media to confirm the shock news of his retirement, revealing he ultimately has no choice to do so or risk losing his sight. Taylor said: "Right folks, this isn't an easy post for me to write, but on the advice of my doctors, it's sadly a necessary one. "As has been publicised before, I've had a recurring issue with my eye that unfortunately means I now have to call time on my career or risk losing my eyesight. "Whilst the fighter in me always wants to box on, I know I have to listen to the medical professionals and save me from myself. "It is certainly not the way I wanted to bow out but I have to listen to the doctors and those around me. "I am just a kid from the Pans who scaled the very top of the sport but I could not have done it without those who have supported me through thick and thin. Tense moment fight rivals Josh Taylor and Jack Catterall silently stare each other out in frosty final face-off before much delayed re-match "First and foremost, I cannot thank you - the fans - enough. "You always gave me your all, spending your hard earned money to come and watch me fight. "Especially the thousands that travelled to watch me box at Madison Square Garden. "Your support has always meant the world to me and I have never taken it for granted. "Top Top Rank (Bob, Carl, Brad, Jeremy and Mel T), you helped turn my dreams into a reality in becoming undisputed world champion and boxing me in Vegas and MSG. "More recently, I wanted to thank Frank and George Warren and Queensberry for giving me the opportunity to headline at the Hydro once more in front of the fans that I love. "I know that British boxing, and Scottish boxing in particular, is an exciting place with the focus that you have on bringing through th next generation of world champions. "To my coaches over the years, Terry McCormack, Shane McGuigan, Ben Davison and most recently Joe McNally - thank you for all the time, energy and guidance you've investedin me, taking me to the very heights (sic) of the sport. "And finally, my family and my beautiful wife Danielle, who's been by my side every step of the way. "Words will never do justice to what your unwavering love and support means to me. "It's now time for me to reflect on a 1 in 70 million career and look forward to what's coming next. "Thank you once again and God bless." More to follow... For the latest news on this story keep checking back at The Scottish Sun. is your go to destination for the best celebrity news, football news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at and follow us from our main Twitter account at @TheScottishSun.
