The continuation of disruptions took a major toll on Norsk’s Q4 performance, with operating margins being reduced to negligible levels. Moreover, the high-potential Primary Metal and Rolled Products divisions reported operating losses. Net debt increased materially and the dividend was slashed. However, it seems that the Brazilian issues could be sorted (soon). Add on top aluminium’s (unchanged) favourable fundamentals, Norsk’s remains an apt sector bet. Although, one’
