Investor Presentaiton
Capital return dashboard for Bauxite & Alumina
Returns below the cost of capital reflecting challenging markets, embargo and operational
issues during the early years
Capital employed in B&A
12%
Hydro
~26 BNOK
(31 Dec.22)
24%
9%
6%
6%
3%
2%
3.1 BNOK
10-11%
2017
2018
2019 2020 2021
2022
Adjusted EBITDA FY 2022
Return requirement
~6%
2017-2022
average ARoaCE
0.8
BNOK
2023-2027 incremental EBITDA from
improvement potential and commercial
ambitions.
Reduce 25% of CO2e by 2025.
1:1 reforestation target.
Fuel switch
project improving
Alunorte's
competitiveness and
sustainability
Capex, BNOK
5.0
4.0
3.0
2.0
1.0
0.0
2022
actual
2023
guiding
2024-26
guiding
Growth and return-seeking
Sustaining
Sustain and
improve
Strategic theme
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