[Norsk Hydro reduces 2025 spending amid global trade uncertainty and tariffs]

Published: Jul 22, 2025 18:41

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Norwegian aluminium producer Norsk Hydro has cut its planned 2025 capital expenditure by NOK 1.5 billion, now totalling NOK 13.5 billion ($1.33 billion), due to uncertain demand and volatile input costs related to new U.S. tariffs on aluminium. The company is freezing external hiring for white-collar positions and plans to eliminate over 100 jobs at its Hydro Extrusions unit by 2025, aiming to improve operational efficiency.
Despite these cost-cutting measures, Norsk Hydro reported a 33.4% increase in second-quarter EBITDA, reaching NOK 7.79 billion, driven by higher aluminium and energy prices. The company expressed concerns over potential global economic slowdown risks stemming from ongoing trade tensions, particularly U.S. tariffs, which have significantly reshaped global aluminium trade flows.

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