Investor Presentaiton
Recycling: A profitable business case strengthening the
sustainability positioning of Hydro and industry
Global estimated recovery from
post-consumer scrap collected increases
Million tons
Price spread LME vs. complex
post-consumer scrap increased
USD/tonne
Large scrap volumes leaving Europe, ~1
million tons - an untapped potential
70
60
50
40
NW
20
30
10
3800
Forecast
3300
2800
2300
1800
1300
800
300
0
2000 2010
2020
2030 2040 2050
-200
■Transport
Packaging & foil
■ Electrical
■Building & construction
■Consumer durables
■Machinery & equipment
Other
Source: IAI GARC 2021, UNComtrade, Hydro analysis
Jan-14
Jan-15
Jan-16
Jan-17
Jan-18
Jan-19
Jan-20
Jan-21
Jan-22
Old rolled discount to LME
LME 3m
Old rolled scrap
Hydro
0.0
0,0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
5,0
EBITDA Margin
Ave 2008-2013
Ave 2014-2018
Ave 2019-2022E
4,0
3,0
2,0
1,0
AM Recycling indexed EBITDA margin
USD/tonne (2008 set at 1)
2018
2019
2020
2021
2022E
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