Norsk Hydro’s bauxite & primary aluminum output slides in Q4 2023
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Update time : 2024-02-19 17:21:11
Norwegian aluminum producer Norsk Hydro’s bauxite production totaled 2.771 million tons in the fourth quarter of 2023, down by 2.7% compared to the previous quarter and by 1.9% from the same period a year ago.
In the given period, primary aluminum output totaled 514,000 tons, up by 0.4% quarter on quarter and falling by 1.5% year on year. Alumina production amounted to 1.571 million tons, up by 3.2% from the preceding quarter and by 0.8% from the prior-year output.
In terms of financial performance, Hydro’s adjusted EBITDA was NOK 3,737 million in the fourth quarter of 2023, falling from NOK 3,899 million in the preceding quarter and from NOK 7,184 million in the same quarter of 2022. The significant drop highlighted the company's profitability problems while facing market challenges.
The adjusted EBITDA in 2023 amounted to NOK 22,258 million, plummeting from NOK 39,664 million in 2022, due to operating pressure and market challenges in the past year.
