Thanks to material (aluminium) price tailwinds and healthy market demand (across most divisions), Norsk Hydro reported ‘record’ Q3 results. The performance was led by Primary Metal and was well-complemented by other divisions (excluding Metal Markets). While cost escalation (especially for energy) is a key near-term challenge for the industry, the Norwegian giant is well-covered via material internal generation of renewable energy. Hence, our positive stock recommendation is reiterated.
26 Oct 2021
‘Record’ Q3; well-positioned to withstand near-term cost headwinds
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‘Record’ Q3; well-positioned to withstand near-term cost headwinds
- Published:
26 Oct 2021 -
Author:
Varun Sikka -
Pages:
3
Thanks to material (aluminium) price tailwinds and healthy market demand (across most divisions), Norsk Hydro reported ‘record’ Q3 results. The performance was led by Primary Metal and was well-complemented by other divisions (excluding Metal Markets). While cost escalation (especially for energy) is a key near-term challenge for the industry, the Norwegian giant is well-covered via material internal generation of renewable energy. Hence, our positive stock recommendation is reiterated.