Latest news with #NorskHydroASA
Yahoo
21-05-2025
- Business
- Yahoo
Norsk Hydro: Save the date – Investor Day to be held in London on November 27, 2025
Save the date for Hydro's Investor Day 2025. The event will take place in London on November 27, 2025, from 09:00 to 14:00 GMT, with the opportunity for both in person and virtual attendance. The event will consist of presentations held by Hydro's CEO and CFO on strategic priorities and financial targets, with a Q&A and roundtable sessions. Further details and a formal invitation with registration will be distributed later. Best regards,for Norsk Hydro ASA Martine Rambøl HagenVP Investor Relations+47 Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
Norsk Hydro: Notice of Annual General Meeting 2025
Notice is given that the Annual General Meeting 2025 of Norsk Hydro ASA will be held on Friday, May 9, 2025, at 10:00 (CEST). The Annual General Meeting will be held as a digital meeting only, via Lumi AGM on and shareholders are invited to participate digitally. It is also possible to vote in advance or grant a proxy. Please refer to the attached guide for information on online participation. The notice including appendices is attached. All relevant documents may also be found on Owners of shares held in custodian accounts will find further information in the contact:Elitsa Blessi+47 Media contact:Anders Vindegg+47 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments Notice of Annual General Meeting 2025 Appendix 1 Link to Annual Report Appendix 2 Confirmation of coverage for remaining non-distributable equity after share capital reduction Appendix 3 Remuneration report for senior executives for the financial year 2024 Appendix 4 The Articles of Association of Norsk Hydro ASA incl proposed amendments Appendix 5 Recommendation from the Nomitation Committee of Norsk Hydro Appendix 6 Proposal from shareholder Ivar Saetre Appendix 7 Proposal from shareholder Albert Berveling Appendix 8 Form for voting and proxy Appendix 9 Guide on digital attendance
Bloomberg
19-03-2025
- Automotive
- Bloomberg
Longer-Lasting EV Batteries Slow Ramp Up at Recycler Hydrovolt
Electric car batteries are lasting longer than expected, delaying the ramp up of cell reprocessing at a Norwegian recycler, Hydrovolt. The company — a subsidiary of aluminum producer Norsk Hydro ASA — opened a semi-automated production line for discharging and dismantling batteries last year, with a target of handling 12,000 metric tons of power packs from about 25,000 electric vehicles a year. It will process only about a third of that this year, according to Chief Executive Officer Ole-Christen Enger.
Yahoo
24-02-2025
- Business
- Yahoo
PyroGenesis Signs $2.4 Million Contract with Norsk Hydro ASA
Norsk Hydro ASA Moves to Decarbonize Aluminum Casthouses by Testing PyroGenesis' Plasma Technology with Global Potential MONTREAL, Feb. 24, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. ('PyroGenesis') ( (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company that designs, develops, manufactures and commercializes all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, announces that it has signed a €1.63 million (CA$2.4 million) contract with aluminium and renewable energy company Norsk Hydro ASA ('Hydro') as part of its stated plan to test plasma technology as one of the ways to replace fossil fuel with renewable alternatives in its aluminum casthouses. In January 2024, Hydro, as part of its stated goal to achieve net-zero emissions across the entire aluminum value chain by 2050, publicly announced their intention to test plasma technology in their test center in Sunndal 1: Sunndal primary aluminium plant (Photo: Anders Vindegg/Hydro) 'We are exploring the application of renewable energy sources in production steps that traditionally rely on fossil fuels. Plasma technology offers a way to electrify casthouse operations using the same renewable energy that powers our primary smelters. If we succeed with the pilot project at Sunndal, it will not only impact our operations but also has the potential to bring change to the aluminium industry and other hard-to-abate sectors worldwide,' says Per Eilert Vierli, Senior Vice President of Hydro Aluminium Metal. Hydro intends to melt the first aluminum in the R&D casthouse at Sunndal by next year. Hydro's Sunndal plant is the largest and most modern primary aluminum plant in Europe.i The facility, which also houses remelting, casthouse, and research and development activities, produces over 400,000 tonnes of primary aluminum, 500,000 tonnes of casthouse products, and 80,000 tonnes of anodes 2: Drone photo of Sunndalsøra Norway, featuring Hydro's aluminium plant, the largest and most modern primary aluminium plant in Europe. (Photo: Hydro) After announcing its goals in early 2024, Hydro initiated a competitive process to select a plasma technology partner. After an exhaustive process, PyroGenesis was selected by Hydro to undertake this major initiative. The potential for this contract was previously mentioned in the outlook section of PyroGenesis' Q3 2024 earnings news release, which listed a tendered bid underway for a global aluminum company, whose name was kept confidential at the time. 'Hydro is not just one of the largest aluminum companies in the world, but it is also one of the few companies that others in the industry look to for guidance and inspiration. We are proud to be partnering with a leader who is committed to decarbonizing and achieving net zero CO2 emissions in the entire aluminum value chain,' noted P. Peter Pascali, President and CEO of PyroGenesis. 'Our torch capabilities are the reason PyroGenesis is increasingly becoming the go-to plasma solution company for the biggest and most influential names in heavy industry as they seek solutions to meet their global energy transition and decarbonization strategies. As noted in our recent press release dated February 10, 2024, recent results have confirmed that a solid business case can be made to transition to all-electric PyroGenesis plasma torches from an energy savings perspective alone, and any positive environmental impact (such as CO2 reduction) would be just icing on the cake. In addition, with the reduced energy requirement as a result of using PyroGenesis torches, companies can now contemplate building smaller furnaces (for the same capacity), reducing costs further for the same project. Last but not least, the reduced aluminum melting time means companies can raise production levels, generating higher and faster output. Increasing production rates by up to 30% from the same production footprint implies processing more output which in turn directly impacts revenues and profitability. As I said, the advantages from using PyroGenesis' plasma torches create a solid business case apart from the concurrent positive environmental impact of doing so. It is for these reasons that we say that 'PyroGenesis is working to make sustainability sustainable.'' The contract with Hydro is for the engineering, design, manufacturing, and delivery of a PyroGenesis plasma torch system and related peripheral components that will be used to replace existing natural gas-powered furnace burners in an aluminum casthouse furnace. The project will be one of the first in the world to use plasma to melt aluminum on an industrial scale, and will measure energy consumption, melting rate, aluminum quality, and production output among other data. Hydro expects this project, if successful, to pave the way for decarbonization of casthouse operations on a larger scale, stating that the global potential for reducing emissions from aluminum casthouses and recyclers is in the neighborhood of 11 million tonnes of Hydro is a Norway-based aluminum and renewable energy company founded in 1905, that is often considered one of the most respected and influential leaders in heavy industry, with 32,000 employees across operations in 42 countries. Since entering the aluminium business in the 1960s, Hydro has become one of the largest aluminum producers in the world. The company posted 2024 revenues of US$18.3 billion. PyroGenesis' development of plasma torches for use in high temperature industrial processes is part of its three-vertical solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches for use in aluminum casthouse furnaces are part of PyroGenesis' Energy Transition and Emission Reduction vertical, where fuel switching to PyroGenesis' electric-powered plasma torches helps heavy industry reduce energy costs, fossil fuel use, and emissions. The other verticals are Waste Remediation and Commodity Security and Optimization. About PyroGenesis Inc. PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional 'dirty' processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis' shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY). Cautionary and Forward-Looking Statements This press release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved'. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under 'Risk Factors' in PyroGenesis' latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis' profile on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws. Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release. For further information please contact:Rodayna Kafal, Vice President, IR/Comms. and Strategic BDE-mail: ir@ ___________________________i ii accompanying this announcement is available at: in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
Norsk Hydro ASA (NHYDY) Q4 2024 Earnings Call Highlights: Strong Financial Performance Amid ...
Adjusted EBITDA: NOK7.7 billion for Q4 2024. Free Cash Flow: NOK1.7 billion for Q4 2024. Adjusted RoaCE: 8.5% for Q4 2024. Revenue: Increased by 18% year-over-year to NOK55 billion for Q4 2024. Net Income: NOK1.8 billion for Q4 2024. Adjusted Net Income: NOK2.6 billion for Q4 2024. Adjusted EPS: NOK1.11 per share for Q4 2024. Dividend Proposal: NOK2.25 per share, representing 50% of adjusted net income. Net Debt: Increased by NOK1.3 billion to NOK14.7 billion at the end of Q4 2024. Alumina Market Deficit: 1.4 million tonnes in 2024. Extrusion Sales Volume: Declined by 7% year-over-year in Q4 2024. Aluminum Metal Adjusted EBITDA: NOK1.9 billion for Q4 2024. Energy Adjusted EBITDA: NOK1.15 billion for Q4 2024. CO2 Emission Reduction Target: Achieved 10% reduction one year ahead of schedule. Full-Time Positions Reduced: 900 positions through divestments, plant closures, and cost-cutting measures. Warning! GuruFocus has detected 3 Warning Signs with ETCMY. Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Norsk Hydro ASA (NHYDY) achieved a record low TRI rate in Q4, indicating improved safety performance. The company delivered an adjusted EBITDA of NOK7.7 billion and a free cash flow of NOK1.7 billion, reflecting strong financial performance. Norsk Hydro ASA (NHYDY) achieved its 2025 CO2 emission reduction target of 10% one year ahead of schedule. The company strengthened key partnerships to accelerate the green aluminum transition, including collaborations with Rio Tinto and Siemens Mobility. A proposed cash dividend of 50% of adjusted net income, translating into NOK2.25 per share, demonstrates a commitment to shareholder value. There was a slight increase in high-risk incidents, highlighting ongoing safety challenges. Hydro extrusions faced weak market demand, necessitating significant restructuring measures. The US reintroduced Section 232 tariffs, imposing a 25% duty on imported aluminum and steel, potentially impacting costs. The extrusion market continues to face challenging conditions, particularly in Europe, with weak demand persisting. In Brazil, capped energy deliveries and squeezed profits from solar and wind projects led to NOK0.4 billion in impairments. Q: Historically, you have seen an escalation in fixed costs which now appears to be reversing with a large step down in fixed cost of NOK700 million to NOK800 million. Does this get up to a new normal for fixed cost or is it temporary? A: Trond Olaf Christophersen, CFO, explained that the reduction is due to a NOK300 million social provision in Q4 and seasonally higher project costs, which are not expected to recur in Q1. Long-term, no change in fixed cost level is anticipated. Q: In the extrusion market, are there any green shoots you are seeing? Should we expect more restructuring costs in 2025 and how will Q1 '25 compare with Q1 '24? A: Eivind Kallevik, CEO, noted that the US market is expected to perform better than Europe, with growth potential in southern Europe. However, transportation and automotive sectors need to recover for significant improvement. Restructuring costs are not expected to impact long-term targets. Q: Can you give a rough percentage on the share of domestic sourcing across scrap and ingots in the US extrusion market? A: Eivind Kallevik stated that most raw materials consumed in the US are locally sourced, with some ingots used as sweeteners in recyclers, which is a common practice across the industry. Q: Do you see potential for buybacks in 2025? A: Eivind Kallevik mentioned that while a NOK4.5 billion dividend is proposed for 2024, it's too early to predict 2025 earnings and potential buybacks. However, current market conditions suggest a positive outlook. Q: Do you reiterate the NOK4.5 billion to NOK5 billion EBITDA guide for 2025 for extrusions, and how will restructuring impact this? A: Trond Olaf Christophersen confirmed the guidance for 2025, noting a slow start is expected. Restructuring is not anticipated to affect long-term extrusion targets. Q: How much of the NOK350 million restructuring cost in extrusion was charged in Q4? A: Eivind Kallevik reported that approximately NOK270 million to NOK280 million was charged in Q4, with NOK80 million impacting adjusted EBITDA. Q: Could you provide guidance on minority dividends from BNA in 2025? A: Eivind Kallevik explained that Alunorte plans to continue debt repayment in 2025, having reduced debt from $1 billion to $800 million in 2024. Future earnings will be evaluated for dividend proposals. Q: What would encourage the wide-scale deployment of hydrogen beyond the pilot stage? A: Eivind Kallevik emphasized the importance of proving industrial use of hydrogen as an energy carrier. Current energy costs make hydrogen a costly replacement, but industrial validation is the first step. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
