Norsk Hydro Should Deliver Higher Profits in the Second Half of 2019 as Normal Operations Resume
Norsk Hydro navigated a tumultuous first quarter that included a production embargo at the Alunorte alumina refinery and the fallout from a costly cyberattack. Indeed, the company's earnings release was heavily delayed by challenges related to the cyberattack. Additionally, lower aluminum prices depressed profitability, and global aluminum demand remained lukewarm. With no major changes to our valuation model, our NOK 34 fair value estimate is unchanged. We maintain our no-moat rating, as we don...Norsk Hydro is an aluminium group based in Norway. Co. is engaged in the supply of aluminium and aluminium products. Co. supplies casthouse products, such as extrusion ingots, sheet ingots and foundry alloys. Co's customers are active in sectors such as the packaging, lithographic, building, automotive and transport sectors. In addition, Co. is engaged in the production of power in Norway. Its business is divided into six operating segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, and Energy and Other and Eliminations.
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