Norsk Hydro annual reporting 2014: Better, bigger, greener
March 13 2015 - 3:02AM
"After challenging years, the fundamentals in the aluminium
market show some improvement - and our ambitious improvement
strategy yields significant results turning Hydro into a strong
player well positioned for a better, bigger and greener future,"
President and CEO Svein Richard Brandtzæg writes in his letter to
shareholders.
"The lowered cost of producing a ton of aluminium is not simply
a result of shortsighted "cost-cutting", but a lasting result of
systematic and determined improvement programs. As earnings outlook
has improved, now is the time to prove the strength of our
improvement culture: Stepping-up when you have to is one thing, but
true culture is reflected through advancements also when not driven
by external distress," Brandtzæg says.
"Improvements will be supplemented with selective growth and
portfolio high-grading measures as well as further technological
advancements aiming to establish Hydro as a leading industry
player, and maturing some of the most competitive projects in the
world when the time is right. Demand for aluminium is the fastest
growing of any metal in the world. Low weight, strength and
recyclability make it the material of choice to respond to the
global challenge of sustainable economic growth," Brandtzæg
continues.
"For us in Hydro, aluminium is not merely a commodity. Aluminium
is where natural resources come together with our intellectual
capabilities. Building on the inherent properties of aluminium, we
add know-how and technological edge in order to find solutions to
the major challenges of our time - like saving energy and reducing
greenhouse gas emissions," Brandtzæg finishes.
The report, meeting the Norwegian statutory requirements for
annual reporting, is "Financial Statements and Board of Directors'
Report - 2014." This report is available in Norwegian and
English.
In addition, a more extensive report is available, "Annual
Report - 2014," with detailed information about Hydro's businesses,
operational performance, financial performance, viability
performance, corporate governance and financial statements. The
report is available in English.
At www.hydro.com/reporting2014 the full content of the two
reports is presented with supplementary information. All parts of
the reports can be downloaded from this web site and printed in PDF
format on demand.
Hydro's main reporting on viability performance is included in
the "Annual Report - 2014," with additional details on
www.hydro.com/reporting2014
Shareholders and stakeholders may request a printed copy of any
of Hydro's 2014 reports at www.hydro.com/reporting2014 free of
charge.
Investor contactContact Pål KildemoCellular +47 97096711E-mail
Pal.Kildemo@hydro.com
Press contactContact Halvor MollandCellular +47 92979797E-mail
Halvor.Molland@hydro.com
Certain statements included within this announcement contain
forward-looking information, including, without limitation, those
relating to (a) forecasts, projections and estimates, (b)
statements of management's plans, objectives and strategies for
Hydro, such as planned expansions, investments or other projects,
(c) targeted production volumes and costs, capacities or rates,
start up costs, cost reductions and profit objectives, (d) various
expectations about future developments in Hydro's markets,
particularly prices, supply and demand and competition, (e) results
of operations, (f) margins, (g) growth rates, (h) risk management,
as well as (i) statements preceded by "expected", "scheduled",
"targeted", "planned", "proposed", "intended" or similar
statements.
Although we believe that the expectations reflected in such
forward-looking statements are reasonable, these forward-looking
statements are based on a number of assumptions and forecasts that,
by their nature, involve risk and uncertainty. Various factors
could cause our actual results to differ materially from those
projected in a forward-looking statement or affect the extent to
which a particular projection is realized. Factors that could cause
these differences include, but are not limited to: our continued
ability to reposition and restructure our upstream and downstream
aluminium business; changes in availability and cost of energy and
raw materials; global supply and demand for aluminium and aluminium
products; world economic growth, including rates of inflation and
industrial production; changes in the relative value of currencies
and the value of commodity contracts; trends in Hydro's key markets
and competition; and legislative, regulatory and political
factors.
No assurance can be given that such expectations will prove to
have been correct. Hydro disclaims any obligation to update or
revise any forward looking statements, whether as a result of new
information, future events or otherwise.
This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
Annual Report 2014 http://hugin.info/106/R/1903185/676822.pdf
Financial statements and Board of Directors report 2014
http://hugin.info/106/R/1903185/676823.pdf
HUG#1903185
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