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 '23)
22%
6%
6%
3%
2%
1.8 BNOK
10-11%
2018
2019 2020 2021
2022
-2%
2023
Adjusted EBITDA FY 2023
Return requirement
~4%
2018-2023
average ARoaCE
1.0
BNOK
2024-2030 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
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2023
actual
2024
guiding
2025-28
guiding
Growth and return-seeking
Sustaining
Sustain and
improve
Strategic theme
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