Norsk Hydro’s Q3 16 results (especially profitability) came in ahead of consensus estimates. Although, the performance at the operating profit level was still behind AV’s estimates. The Bauxite & Alumina (B&A) division again failed to deliver to potential, despite the ramp-up to record output levels. Sales came in at NOK20.2bn (-6.6% yoy; -1.1% qoq) as healthy volumes across divisions (except for Rolled Products) were well supported by moderating aluminium price headwinds.
26 Oct 2016
Decent Q3 results, although Bauxite & Alumina’s recovery was still missing
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Decent Q3 results, although Bauxite & Alumina’s recovery was still missing
Norsk Hydro’s Q3 16 results (especially profitability) came in ahead of consensus estimates. Although, the performance at the operating profit level was still behind AV’s estimates. The Bauxite & Alumina (B&A) division again failed to deliver to potential, despite the ramp-up to record output levels. Sales came in at NOK20.2bn (-6.6% yoy; -1.1% qoq) as healthy volumes across divisions (except for Rolled Products) were well supported by moderating aluminium price headwinds.