Norwegian aluminum producer Norsk Hydro's EBITDA was announced as NOK 7.18 billion in the fourth quarter of last year, decreased by 20.3% compared to the previous year. EBITDA announced by Hydro remained below the average analyst estimate of NOK 7.37 billion.
Stating that there are improvements in terms of inflationary pressure and macroeconomic developments compared to previous months, Norsk Hydro announced that it will not restart idle smelters for the time being due to the unpredictability of 2023.
Hydro's CFO, Pål Kildemo, said in a statement that despite improvements in the global economic outlook in the November-December period, the company would not reverse the around 130,000 tons per year decline in aluminum capacity at its Norwegian plants.
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