Norsk Hydro Reports Q1 2026 Earnings: Adjusted EBITDA at NOK 8.67B, Higher Aluminum Prices Boost Results

Published: Apr 29, 2026 18:06

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[SMM Aluminum Express News] Norsk Hydro reported strong Q1 2026 performance, with adjusted EBITDA at NOK 8.67 billion, slightly down year-on-year due to currency and power impacts. Higher aluminum prices and increased alumina and metal sales supported earnings, while weaker alumina prices, a stronger NOK, and lower power production weighed on results. Adjusted EPS rose to NOK 2.07 (from NOK 1.63), though free cash flow was negative NOK 4 billion due to higher working capital tied to elevated metal prices and volumes. Return on capital employed (RoaCE) stood at 10.1%.

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