(News Bulletin 247) – Norsk Hydro reported on Tuesday a “record” operating result for the 2022 financial year, the recovery of the aluminum market following the Covid-19 crisis having enabled it to more than compensate for a ‘difficult’ environment in terms of costs and inflation.
The Norwegian group says it generated an adjusted Ebitda of 39.7 billion crowns last year, corresponding to a return on capital employed of 22.2%, well above the target of 10% that it had initially set itself. fixed.
Hydro, which says it is “well positioned” to create value, explains that it plans to return 62% of its adjusted net profit for 2022 to its shareholders in the form of dividends and share buybacks.
The company says it is particularly encouraged by the current demand for recycled aluminium, which according to its estimates should grow at an average annual rate of 5.4% by 2030.
Despite a global economy described as ‘more unpredictable’, Hydro believes it can navigate through the current turmoil thanks to its strategic positioning to seize ‘long-term’ opportunities.
The publication was nevertheless received without enthusiasm on the Oslo Stock Exchange, where the title fell by 2.4% at the very end of the morning.
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