Investor Presentaiton
Operational data
Hydro
Hydro Bauxite & Alumina
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
Alumina production (kmt)
Sourced alumina (kmt)
Total alumina sales (kmt)
Realized alumina price (USD) 1)
Implied alumina cost (USD) 2)
Bauxite production (kmt) 3)
Sourced bauxite (kmt) 4)
Adjusted EBITDA margin 5)
1 540
1 586
1 579
1 600
1519
698
737
806
765
741
1 536
758
1 579
1 559
1 550
1 542
1 522
1 571
6 305
6 193
6 185
764
593
686
553
692
909
3 006
2 856
2 840
2 269
2 349
2 355
2 655
2 251
2 305
2 344
2 220
2 171
2 153
2 229
2 487
9 628
9 121
9 040
287
287
284
393
391
430
364
342
367
373
349
349
313
382
359
235
244
233
310
327
378
337
337
347
336
345
331
254
345
340
2 813
2 660
2 756
2 696
2 638
2 736
2 814
2 824
2 648
2 630
2 848
2 771
10 926
11 012
10 897
1 103
1 676
1 472
1 427
856
1 674
1 220
1 861
1 078
1 100
1 204
2 001
5 677
5611
5 383
16.6%
14.3%
15.1%
27.8%
16.1%
11.9%
7.3%
1.3%
5.3%
9.2%
1.1%
4.8%
19.3%
9.2%
5.1%
Hydro Energy
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
Power production, GWh
2 857
2 374
1688
2 136
2 730
1 602
1 330
2 002
2 610
2 431
2 216
2 440
9 055
7 664
9 697
Net spot sales, GWh
1 126
334
(401)
305
986
(433)
(703)
511
817
333
24
101
1 364
361
1 275
Nordic spot electricity price, NOK/MWh
435
423
704
969
1 090
1211
1 757
1 414
934
647
949
515
634
1 370
642
Southern Norway spot electricity price (NO2), NOK/MWh
Adjusted EBITDA margin 5)
469
493
807
1 271
1 504
1 752
3 519
1 719
1 182
958
664
818
762
2 128
904
35.9%
34.4%
22.0%
49.5%
52.5%
33.6%
11.2%
50.8%
21.0%
39.5%
23.1%
30.4%
37.3%
39.0%
27.2%
3) Paragominas production, on wet basis
4) 40 percent MRN offtake from Vale and 5 percent Hydro share on wet basis
5) Adjusted EBITDA divided by total revenues
1) Weighted average of own production and third-party contracts, excluding hedge results. The majority of the alumina is sold linked to either the LME prices or alumina index with a one-month delay
2) Implied alumina cost (based on EBITDA and sales volume) replaces previous apparent alumina cash cost
57
57View entire presentation