Investor Presentaiton
Bauxite & Alumina sensitivities
Annual sensitivities on adjusted EBITDA if +10% in price
NOK million
(30)
1 720
•
Revenue impact
Realized alumina price lags PAX by one month
Cost impact
Bauxite
•
~2.45 tonnes bauxite per tonne alumina
Pricing partly LME-linked
Caustic soda
(150)
•
~0.1 tonnes per tonne alumina
•
Prices based on IHS Chemical, pricing mainly monthly per shipment
(250)
(630)
Aluminium
Realized PAX
Fuel oil
Caustic soda
Coal
Currency sensitivities +10%
NOK million
Adj. EBITDA
USD
BRL
EUR
850
(610)
Hydro
•
Energy
~0.12 tonnes coal per tonne alumina, Platts prices, one year volume contracts, weekly per
shipment pricing
•
~0.11 tonnes heavy fuel oil per tonne alumina, prices set by ANP/Petrobras in Brazil, weekly
pricing (ANP) or anytime (Petrobras)
Annual adjusted sensitivities based on normal annual business volumes. LME USD 2,250 per mt, standard ingot premium 260 USD/mt, PAX 325 USD/mt, fuel oil USD 830 per mt, petroleum coke USD 685 per mt, pitch 1,340 EUR/t, caustic
soda USD 930 per mt, coal USD 230 per mt, USD/NOK 10.16, BRL/NOK 1.94, EUR/NOK 10.39
BRL sensitivity calculated on a long-term basis with fuel oil assumed in USD. In the short-term, fuel oil is BRL-denominated. 2022 Platts alumina index (PAX) exposure used
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