AT A GLANCE: Hydro revenue drops 21%; Covid-19 hits demand for extrusion, rolled products

A summary of aluminium and alumina producer Hydro’s second-quarter 2020 results.

In brief

Underlying earnings before interest and taxes (Ebit) for the second quarter was 949 million Norwegian krone (US $104.29 million), compared with 875 million krone for the same quarter in 2019. Revenue was down to 30.9 billion krone from 39.1 billion krone in the second quarter of 2019. The ramp-up of Alunorte’s production and record low production costs, contributed positively to the second quarter results. But this was partially offset by reduced alumina and aluminium prices in addition to reduced downstream volumes.  The global fall in demand and government-imposed restrictions...

Published

Alice Mason

July 22, 2020

09:47 GMT

London