Investor Presentaiton
Operational data
Hydro
Hydro Aluminium Metal 1)
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Year 2021
Year 2022
Year 2023
Realized aluminium price LME, USD/mt
Realized aluminium price LME, NOK/mt³)
Realized premium above LME, USD/mt²)
Realized premium above LME, NOK/mt2)3)
1 994
2210
17 008
18 528
2 419
20 910
2 675
23 087
2 662
23 542
3 031
28 461
2 497
24 706
2 246
22 813
2 291
2 273
23 566
24 417
2 146
22 456
2 129
23 143
2 317
19 819
2 599
24 739
2 218
22 995
264
332
449
565
786
870
801
577
503
456
432
348
400
756
435
2 253
2 780
3 878
4 873
6 954
8 167
7 920
5 857
5 169
4 894
4 521
3 778
3 420
7 197
4 511
Realized NOK/USD exchange rate ³)
8.53
8.38
8.64
8.63
8.84
9.39
9.89
10.16
10.29
10.74
10.47
10.87
8.55
9.52
10.37
Implied primary cost (USD) 4)
1 500
1525
1 450
1 600
1 550
1 500
1 550
1 650
1 700
1 725
1 750
1 775
1 500
1 550
1 750
Implied all-in primary cost (USD) 5)
1 825
1 900
1 925
2 175
2 450
2 500
2 350
2 250
2 275
2 250
2 200
2 125
1 950
2 375
2 225
Hydro Aluminium Metal production, kmt
539
561
573
571
540
532
543
522
499
506
512
514
2 244
2 137
2 031
Casthouse production, kmt
534
553
560
568
555
542
547
522
513
519
523
512
2 214
2 166
2 067
Total sales, kmt6)
599
594
583
572
600
581
533
542
559
577
539
541
2 347
2 256
2217
Adjusted EBITDA margin 8)
19.6%
29.6%
42.8%
33.0%
43.0%
28.4%
38.8%
36.2%
26.1%
17.7%
12.1%
14.3%
31.7%
35.1%
18.0%
Hydro Metal Markets
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Year 2021
Year 2022
Year 2023
Remelt production (1 000 mt)
143
154
132
144
151
158
124
115
132
146
176
166
572
548
620
Third-party sales (1000 mt)
77
78
72
85
72
74
76
81
78
81
92
81
311
304
331
Hydro Metal Markets sales excl. ingot trading (1 000 mt) 7)
742
735
675
681
731
710
635
614
674
691
652
645
2 833
2 691
2 662
Hereof external sales excl. ingot trading (1 000 mt)
588
607
573
574
610
607
536
530
566
590
567
567
2 342
2 284
2 290
External revenue (NOK million)
10 789
12 552
13 831
16 993
18 472
24 420
18 796
15 132
17 308
19 837
16 716
16 829
54 165
76 821
70 690
Hydro Extrusions
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Year 2021
Year 2022
Year 2023
Hydro Extrusions external shipments (1 000 mt)
338
342
315
301
347
338
301
265
301
293
260
236
1 296
1 251
1 090
Hydro Extrusions - Pro-forma adjusted EBIT per mt, NOK
Adjusted EBITDA margin 2)
3 680
3 706
2 629
(404)
4 568
4 740
2 123
636
4 937
4 184
2 107
383
2 482
3 194
3 074
10.7%
10.5%
8.1%
3.6%
9.9%
9.4%
6.1%
4.7%
9.8%
8.9%
6.9%
5.1%
8.1%
7.7%
7.8%
1) Operating and financial information includes Hydro's proportionate share of production and sales volumes in equity accounted
investments. Realized prices, premiums and exchange rates exclude equity accounted investments
2) Average realized premium above LME for casthouse sales from Hydro Aluminium Metal
3) Including strategic hedges /hedge accounting applied
4) Realized LME price minus Adjusted EBITDA margin (incl. Qatalum) per mt primary aluminium produced. Includes net earnings
from primary casthouses
5) Realized all-in price minus Adjusted EBITDA margin (incl. Qatalum) per mt primary aluminium sold. Includes net earnings from
primary casthouses
6) Total sales replaces previous casthouse sales due to change of definition
7) Includes external and internal sales from primary casthouse operations, remelters and third-party Metal sources
8) Adjusted EBITDA divided by total revenues
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