OSLO (dpa-AFX) - Norsk Hydro ASA (NHYDY.PK, NHYKF.PK), a Norwegian aluminium and renewable energy firm, reported that its second quarter net income attributable to shareholders dropped to 2.14 billion Norwegian Kroner or 1.07 Kroner per share from 5.21 billion Kroner or 2.56 Kroner per share last year.
Hydro's adjusted EBITDA for the second quarter of 2024 was 5.84 billion Kroner, down from 7.10 billion Kroner for the same quarter last year. Lower Extrusions volumes, recycling margins and Energy spot sales, and higher fixed costs negatively impacted results, partly offset by higher alumina prices and lower raw material costs.
Adjusted earnings per share for the second quarter was 0.97 Kroner down from 1.77 Kroner in the previous year.
Total revenue and income for the second quarter declined to 52.45 billion Kroner from 54.99 billion Kroner in the prior year.
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