Hydro's adjusted EBITDA for the second quarter of 2024 was NOK 5,839 million, positively influenced by increasing revenue drivers in the quarter. The second quarter adjusted EBITDA was down from NOK 7,098 million for the same quarter last year, negatively impacted by lower Extrusions volumes, recycling margins and Energy spot sales, and higher fixed costs. This was partly offset by higher alumina prices and lower raw material costs resulting in an adjusted RoaCE of 4.4 percent over the last twelve months and free cash flow of NOK 2.8 billion.
- Revenue drivers continue to rise, supporting solid upstream results
- Weak demand and low recycling margins impacting downstream results, mitigating measures in place
- Hydro Rein joint venture established, supporting industrial decarbonization and long-term value creation
- Strong demand for Hydro CIRCAL, scaling up recycling to meet increased demand
- Shaping the greener aluminium market in partnership with Porsche
"The positive development in our key revenue drivers from the first quarter continued into the second quarter, supporting solid results in our upstream businesses. We are mitigating the challenges of a weak downstream market by executing cost-saving measures and maintaining extrusion margins," says Eivind Kallevik, President & CEO of Hydro.
On July 9, a contractor passed away while performing maintenance work at Hydro's joint venture Albras in Brazil.
"I am deeply saddened by this tragic incident which underlines the critical role safety has in everything we do. My deepest condolences go out to the family and the affected colleagues," says Kallevik.
Economic growth forecasts stabilized at relatively low levels during the second quarter, while the economic uncertainty continued to decrease with both headline and core inflation trending downwards, and external sources estimating real GDP growth of around 2.7 percent in 2024. Global primary aluminium demand was up 2 percent year-on-year during the second quarter, driven by a 3 percent increase in China, supporting overall growth in global primary demand of 3 percent year-on-year for 2024. Key uncertainties going forward are inflation stickiness, policy support, Chinese economic growth, the conflicts in Ukraine and the Middle East, and the geopolitical situation.
Positive revenue drivers continued into the second quarter, supporting solid results in Bauxite & Alumina and Aluminium Metal. The Platts Alumina Index (PAX) started the quarter at USD 367 per tonne, gradually increasing to USD 505 per tonne at the end of the quarter, driven by alumina production curtailments and disruptions in Australia and India, bringing the World ex-China market into balance. The three-month aluminium price ended the quarter at USD 2,524 per tonne.
"We are pleased to see solid results in Bauxite & Alumina as well as Aluminium Metal. Positive revenue drivers, combined with ongoing improvement initiatives, including the ongoing fuel switch at Hydro Alunorte, are expected to further strengthen value creation from upstream activities going forward," says Kallevik.
Downstream, demand in the residential building and construction segments in Europe and North America remains weak, but is expected to improve with lower interest rates and a positive industrial outlook. Low activity in these markets continues to challenge aluminium scrap availability and pressures recycling margins, with several recyclers running on reduced capacity, impacting both Hydro Extrusions and Metal Markets. The automotive extrusion demand has been challenged by lower electrical vehicle sales growth, and weak trailer build rates in the transportation segment adversely affected Hydro Extrusions during the second quarter. CRU revised down their extrusion demand forecasts for the second half of 2024, expecting a slower recovery.
Hydro Extrusions has responded with mitigating measures to handle challenging markets. Current production flexibility and adaptation abilities are utilized to maneuver weak demand, while cost cutting programs and manning reductions are used as means to uphold margins. Managing short-term volatility enables Extrusions to continue positioning for long-term growth with the customers, and two new OEM contracts were added to the portfolio during the second quarter, accumulating contracts worth EUR 3.1-3.3 billion since the beginning of 2023. Hydro Extrusions is positioned to deliver on the 2025 EBITDA target of NOK 8 billion when markets recover, though recent extrusion demand forecasts indicate a delayed realization.
Recycling margins pressured by weak markets underscore the need to diversify the portfolio, and strengthen margins and scrap sourcing. During the second quarter, Hydro decided to invest USD 85 million in a new casting line at the recycler in Henderson, Kentucky, to supply the U.S. automotive market with high-quality recycled automotive components. The project introduces HyForge technology to the U.S., serving the automotive market's need for high-quality forge stock, and broadening Hydro's product portfolio. Further, the Alusort joint venture completed the HySort installation in the quarter to enable the U.S. plants to sort and use more post-consumer scrap.
Demand for Hydro's low-carbon and recycled aluminium, Hydro CIRCAL, has remained strong despite weak markets. Recyclers, Luce in France and Atessa in Italy, are upgrading to meet rising European demand, and the bicycle company, Brompton, introduced wheel rims made from 100 percent post-consumer aluminium scrap during the quarter. Beyond Europe, greener products are gaining traction in the U.S., and the first sale of Hydro CIRCAL was conducted during the second quarter. These efforts are estimated to strengthen Hydro's recycling margins and resilience, and align with the 2030 recycling targets.
"Demand growth for low-carbon products remains strong with Hydro CIRCAL sales well above target for 2024. This gives confidence to continue to push forward on strengthening our portfolio to capture long-term positions in the rapidly growing market for low-carbon products," says Kallevik.
Delivering low-carbon products creates value for Hydro's customers at premium pricing. Leveraging the integrated value chain with traceability from mine to component, Hydro is attracting strategic partnerships with industry leaders like the German sports car manufacturer Porsche AG. The agreement signed in Stuttgart on July 9, opens for Hydro to deliver best-in-class, low-carbon aluminium for Porsche's vehicle production in the years to come, and the scope of the agreement includes both Hydro REDUXA and Hydro CIRCAL. Hydro is well-positioned to capitalize on greener premiums, with the potential for NOK 2 billion in earnings uplift by 2030.
"The agreement with Porsche is first of its kind in the aluminium industry and represents a totally new business model proving the underlying value of Hydro's efforts throughout our value chain to pioneer the green aluminium transition," says Kallevik.
Securing access to renewable power is crucial for growth in low-carbon aluminium. Hydro and Macquarie Asset Management launched their renewable energy partnership on June 24, establishing Hydro Rein as a joint venture where Hydro owns 50.1 percent and Macquarie 49.9 percent of the company. With the capital provided by Macquarie, Hydro Rein is expected to be fully funded for its current projects under construction and development cost for projects in the pipeline in the coming years, with an ambition that no new equity will be called on from the owners beyond committed capital.
"We are excited to join forces with Macquarie Asset Management to accelerate the next chapter of Hydro Reins growth journey. With Hydro and Macquarie Asset Management's complimentary capabilities on the ownership side, Hydro Rein is well equipped to continue pursuing profitable growth – supporting industrial decarbonization through growing in the Nordics, selected European markets as well as in Brazil," says Kallevik.
Results and market development per business area
Adjusted EBITDA for Bauxite & Alumina increased compared to the second quarter of last year, from NOK 817 million to NOK 1,616 million, mainly driven by higher alumina sales prices, lower cost of raw materials, and increased sales volume, partly offset by increased alumina sourcing costs and increased other fixed and variable costs. PAX started the quarter at USD 367 per tonne, increasing gradually to USD 505 per mt at the end of the quarter.
Adjusted EBITDA for Energy decreased in the second quarter 2024, from NOK 854 million to NOK 611 million, compared to the same period last year. Lower production, prices and gain on price area differences were partly offset by the expiry of a 12-month internal fixed price purchase contract from Aluminium Metal with a significant loss in the same period last year. Average Nordic power prices in the second quarter 2024 ended below the prices from the previous quarter and the same quarter last year. Price area differences between the south and the north of the Nordic market region increased slightly compared to the previous quarter, but were significantly lower than the same quarter last year. The increase compared to the first quarter 2024 was primarily a result of lower prices in the north due to wind power production, hydrology and decreased demand.
Adjusted EBITDA for Aluminium Metal decreased in the second quarter 2024, compared to the second quarter of 2023, from NOK 3,215 million to NOK 2,520 million, mainly due to reduced contribution from power sales, increased alumina and energy cost, and inflation on fixed cost, partly offset by reduced carbon cost. Global primary aluminium consumption was up 2 percent compared to the second quarter of 2023, driven by a 3 percent increase in China. The three-month aluminium price increased throughout the second quarter of 2024, starting the quarter at USD 2,337 per tonne and ending at USD 2,524 per tonne.
Adjusted EBITDA for Metal Markets decreased in the second quarter 2024, compared to the same period last year, from NOK 334 million to NOK 309 million, due to lower results from recyclers and negative currency effects, largely offset by strong results from sourcing and trading activities. Lower results from recyclers are due to reduced sales prices in a weakening market and additional margin pressure in a tightening scrap market, while Alumetal contributed positively after the acquisition in third quarter 2023.
Adjusted EBITDA for Extrusions decreased in the second quarter 2024, from NOK 2,013 million to NOK 1,377 million, compared to the same quarter last year, mainly driven by lower extrusion sales volumes and decreased margins from recyclers. General inflation pressured fixed and variable costs, partly offset by cost measures. European extrusion demand is estimated to have decreased 14 percent in the second quarter of 2024, compared to the same quarter last year, but increasing 5 percent compared to the first quarter partly driven by seasonality. Automotive extrusion demand has been challenged by lower growth in sales of electric vehicles. Demand for residential building and construction, and industrial segments have started to stabilize at relatively weak levels. Extrusion demand has been relatively better in Southern Europe, while demand in Germany continues to be weak. North American extrusion demand is estimated to have decreased 5 percent during the second quarter of 2024, compared to the same quarter last year, but increasing 1 percent compared to the first quarter. The transport segment has been particularly weak, driven by lower trailer build rates.
Other key financials
Compared to the first quarter 2024, Hydro's adjusted EBITDA increased from NOK 5,411 million to NOK 5,839 million in the second quarter 2024. Higher realized aluminium and alumina prices combined with higher alumina sales volume were partly offset by increased energy and fixed costs.
Net income (loss) amounted to NOK 1,421 million in the second quarter of 2024. Net income (loss) included a NOK 571 million unrealized derivative loss on LME related contracts, a net foreign exchange gain of NOK 151 million, and a NOK 60 million gain from unrealized derivative power and raw material contracts. The result also includes the gain on Hydro's reduced ownership share in Hydro Rein with NOK 321 million, reversal of a provision with NOK 164 million, a compensation related to the divested Rolling business with NOK 137 million, and NOK 56 million in rationalization charges and closure costs.
Hydro's net debt increased from NOK 13.9 billion to NOK 16.2 billion during the second quarter of 2024. The net debt increase was mainly driven by a NOK 5.0 billion dividend to shareholders and investments, partly offset by EBITDA contribution.
Adjusted net debt increased from NOK 22.5 billion to NOK 26.1 billion, largely due to the increase in net debt of NOK 2.3 billion, coupled with increased collateral of NOK 0.5 billion and a NOK 0.6 billion increase in other financial liabilities.
Reported earnings before financial items and tax (EBIT), and net income include effects that are disclosed in the quarterly report. Adjustments to EBITDA, EBIT and net income (loss) are defined and described as part of the alternative performance measures (APM) section in the quarterly report.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
The information was submitted for publication from Hydro Investor Relations and the contact persons set out above. Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments 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, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar. 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 businesses; 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. Except where required by law, 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 considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Attachments
- NHY Presentation Q2 2024
- NHY Report Q2 2024
受該季度收入驅動因素增加的積極影響,海德魯2024年第二季度調整後的息稅折舊攤銷前利潤爲583900萬挪威克朗。第二季度調整後的息稅折舊攤銷前利潤低於去年同期的709800萬挪威克朗,這受到擠壓產量、回收利潤率和能源現貨銷售減少以及固定成本上漲的負面影響。氧化鋁價格上漲和原材料成本下降部分抵消了這一點,導致調整後的RoACE在過去十二個月中爲4.4%,自由現金流爲28挪威克朗。
- 收入驅動因素持續上升,支撐了穩健的上游業績
- 需求疲軟和低迴收利潤率影響了下游業績,已採取緩解措施
- Hydro Rein成立合資企業,支持工業脫碳和長期價值創造
- 對Hydro CIRCAL的強勁需求,擴大回收規模以滿足不斷增長的需求
- 與保時捷合作塑造更環保的鋁市場
“從第一季度開始,我們的主要收入驅動因素的積極發展一直持續到第二季度,爲我們上游業務的穩健業績提供了支持。我們正在通過執行成本節約措施和維持擠出利潤率來緩解下游市場疲軟的挑戰。” Hydro總裁兼首席執行官艾文德·卡列維克說。
7月9日,一名承包商在巴西海德魯合資企業Albras進行維護工作時去世。
“我對這起悲慘事件深感悲痛,這突顯了安全在我們所做的一切中的關鍵作用。我向家人和受影響的同事表示最深切的慰問,” 卡列維克說。
第二季度經濟增長預測穩定在相對較低的水平,而經濟不確定性繼續降低,總體和核心通貨膨脹率均呈下降趨勢,外部來源估計2024年的實際GDP增長約爲2.7%。受中國增長3%的推動,全球原鋁需求在第二季度同比增長2%,支撐了2024年全球初級鋁需求同比增長3%的總體增長。未來的主要不確定性是通貨膨脹粘性、政策支持、中國經濟增長、烏克蘭和中東衝突以及地緣政治局勢。
積極的收入驅動力一直持續到第二季度,支撐了鋁土礦和氧化鋁以及鋁金屬的穩健業績。受澳大利亞和印度氧化鋁減產和中斷的推動,普氏氧化鋁指數(PAX)本季度初爲每噸367美元,在本季度末逐漸升至每噸505美元,使除中國以外的世界市場處於平衡狀態。三個月的鋁價格在本季度末爲每噸2524美元。
“我們很高興看到鋁土礦和氧化鋁以及鋁金屬的穩健業績。積極的收入驅動因素,加上持續的改善舉措,包括Hydro Alunorte持續的燃料轉換,預計將進一步加強上游活動的價值創造,” Kallevik說。
下游,歐洲和北美住宅建築和建築領域的需求仍然疲軟,但隨着利率降低和工業前景樂觀,預計需求將有所改善。這些市場的低活性繼續對廢鋁的供應構成挑戰,並給回收利潤帶來壓力,一些回收商在產能減少的情況下運營,這影響了水力擠壓和金屬市場。汽車擠壓需求受到電動汽車銷售增長放緩的挑戰,運輸領域的拖車製造率疲軟,對第二季度Hydro Extrusions產生了不利影響。CRU下調了對2024年下半年的擠出需求預測,預計復甦將放緩。
Hydro Extrusions已採取緩解措施來應對充滿挑戰的市場。當前的生產靈活性和適應能力被用來應對疲軟的需求,而削減成本的計劃和人員裁減則被用作維持利潤率的手段。管理短期波動使Extrusion能夠繼續爲客戶的長期增長做好準備,第二季度在投資組合中增加了兩份新的OEM合約,自2023年初以來累積了價值31-33歐元的合約。Hydro Extrusions有望在市場復甦時實現2025年80挪威克朗的息稅折舊攤銷前利潤目標,儘管最近的擠出需求預測表明這一目標的實現有所延遲。
市場疲軟帶來的回收利潤率凸顯了分散投資組合、提高利潤率和廢品採購的必要性。在第二季度,海德魯決定投資8500萬美元在肯塔基州亨德森的回收廠新建一條鑄造線,爲美國汽車市場提供高質量的回收汽車零部件。該項目將HyForge技術引入美國,滿足汽車市場對高質量鍛造庫存的需求,並擴大了Hydro的產品組合。此外,Alusort合資企業在本季度完成了HySort的安裝,使美國工廠能夠分揀和使用更多的消費後廢料。
儘管市場疲軟,但對海德魯的低碳和再生鋁Hydro CIRCAL的需求仍然強勁。法國的Luce和意大利的Atessa等回收商正在進行升級以滿足不斷增長的歐洲需求,自行車公司Brompton在本季度推出了由100%消費後鋁廢料製成的輪圈。除歐洲外,更環保的產品在美國越來越受歡迎,Hydro CIRCAL的首次銷售是在第二季度進行的。據估計,這些努力將提高海德魯的回收利潤率和彈性,並符合2030年的回收目標。
“低碳產品的需求增長仍然強勁,Hydro CIRCAL的銷售額遠高於2024年的目標。這使我們有信心繼續推動加強我們的產品組合,在快速增長的低碳產品市場中佔據長期地位,” Kallevik說。
提供低碳產品以優惠的價格爲Hydro的客戶創造價值。Hydro利用綜合價值鏈以及從礦山到零部件的可追溯性,吸引了與德國跑車製造商保時捷股份公司等行業領導者的戰略合作伙伴關係。7月9日在斯圖加特簽署的協議允許海德魯在未來幾年爲保時捷的汽車生產提供一流的低碳鋁材,該協議的範圍包括Hydro REDUXA和Hydro CIRCAL。海德魯完全有能力利用更環保的保費,到2030年,收益有可能增長20億挪威克朗。
Kallevik說:“與保時捷的協議在鋁業中是首例,它代表了一種全新的商業模式,證明了海德魯在整個價值鏈中爲開創綠色鋁轉型所做的努力的潛在價值。”
確保獲得可再生能源對於低碳鋁的增長至關重要。海德魯和麥格理資產管理公司於6月24日啓動了可再生能源合作伙伴關係,將Hydro Rein成立爲合資企業,海德魯擁有該公司50.1%的股份,麥格理擁有該公司49.9%的股份。藉助麥格理提供的資本,Hydro Rein有望在未來幾年爲其當前在建項目和在建項目的開發成本提供全額資金,其目標是除了承諾的資本外,不會向業主徵收任何新的股權。
“我們很高興與麥格理資產管理公司聯手,加速Hydro Reins增長之旅的下一個篇章。憑藉海德魯和麥格理資產管理在所有權方面的互補能力,Hydro Rein完全有能力繼續追求盈利增長——通過在北歐、部分歐洲市場和巴西的增長來支持工業脫碳,” Kallevik說。
每個業務領域的業績和市場發展
調整後的鋁土礦和氧化鋁息稅折舊攤銷前利潤與去年第二季度相比有所增加,從81700萬挪威克朗增至161600萬挪威克朗,這主要是由氧化鋁銷售價格上漲、原材料成本降低和銷售量增加所部分抵消的,但氧化鋁採購成本的增加以及其他固定和可變成本的增加部分抵消了這一點。PAX在本季度開始時爲每噸367美元,在季度末逐漸上漲至每噸505美元。
與去年同期相比,調整後的能源息稅折舊攤銷前利潤在2024年第二季度有所下降,從85400萬挪威克朗降至61100萬挪威克朗。Aluminum Metal爲期12個月的內部固定價格購買合同的到期部分抵消了產量、價格和價格區間差異的收益,該合同在去年同期出現重大虧損。2024年第二季度的北歐平均電價收盤時低於上一季度和去年同期的價格。與上一季度相比,北歐市場地區南部和北部之間的價格區域差異略有增加,但明顯低於去年同期。與2024年第一季度相比的增長主要是由於風力發電、水文和需求減少導致北方價格下跌。
與2023年第二季度相比,鋁金屬調整後的息稅折舊攤銷前利潤在2023年第二季度有所下降,從321500萬挪威克朗降至252000萬挪威克朗,這主要是由於電力銷售的貢獻減少、氧化鋁和能源成本的增加以及固定成本的通貨膨脹,但部分被碳成本的降低所抵消。受中國增長3%的推動,全球原鋁消費量與2023年第二季度相比增長了2%。三個月的鋁價格在整個2024年第二季度上漲,從本季度開始爲每噸2337美元,收於每噸2524美元。
與去年同期相比,2024年第二季度金屬市場調整後的息稅折舊攤銷前利潤從33400萬挪威克朗下降至30900萬挪威克朗,這是由於回收商業績下降和貨幣負面影響,但採購和貿易活動的強勁業績在很大程度上抵消了這一點。回收商的業績下降是由於市場疲軟導致銷售價格下降以及廢品市場緊縮帶來的利潤壓力增加,而Alumetal在2023年第三季度收購後做出了積極的貢獻。
與去年同期相比,擠壓件調整後的息稅折舊攤銷前利潤在2024年第二季度有所下降,從201300萬挪威克朗降至137700萬挪威克朗,這主要是由於擠出銷售量減少和回收商利潤率下降所致。總體通貨膨脹給固定和可變成本帶來壓力,但部分被成本衡量標準所抵消。據估計,與去年同期相比,2024年第二季度歐洲擠出需求下降了14%,但與第一季度相比增長了5%,部分原因是季節性因素。電動汽車銷售增長放緩,汽車擠出需求受到挑戰。對住宅建築和建築業以及工業領域的需求已開始穩定在相對較弱的水平。南歐的擠出需求相對較好,而德國的需求仍然疲軟。據估計,2024年第二季度北美擠出需求與去年同期相比下降了5%,但與第一季度相比增長了1%。受拖車製造率下降的推動,運輸板塊尤其疲軟。
其他主要財務狀況
與2024年第一季度相比,海德魯調整後的息稅折舊攤銷前利潤從541100萬挪威克朗增加到2024年第二季度的583900萬挪威克朗。已實現的鋁和氧化鋁價格的上漲以及氧化鋁銷售量的增加被能源和固定成本的增加部分抵消。
2024年第二季度的淨收益(虧損)爲142100萬挪威克朗。淨收益(虧損)包括倫敦金屬交易所相關合約的57100萬挪威克朗未實現衍生品虧損、15100萬挪威克朗的淨外匯收益以及未實現的衍生權力和原材料合約的6000萬挪威克朗收益。結果還包括水電減少了32100萬挪威克朗的Hydro Rein所有權份額的收益,撤銷了16400萬挪威克朗的準備金,與剝離的滾動業務相關的補償金爲13700萬挪威克朗,以及5600萬挪威克朗的合理化費用和關閉成本。
2024年第二季度,水電的淨負債從139挪威克朗增加到162挪威克朗。淨負債的增加主要是由向股東和投資派發的50挪威克朗股息推動的,但部分被息稅折舊攤銷前利潤的貢獻所抵消。
調整後的淨負債從225挪威克朗增加到261挪威克朗,這主要是由於淨負債增加了23挪威克朗,再加上5挪威克朗的抵押品增加和其他金融負債增加了6挪威克朗。
財務項目和稅前報告的收益(EBIT)和淨收益包括季度報告中披露的影響。對息稅折舊攤銷前利潤、息稅前利潤和淨收益(虧損)的調整是季度報告中另類績效指標(APM)部分的一部分定義和描述的。
投資者聯繫人:
瑪蒂娜·蘭博爾·哈根
+47 91708918
Martine.Rambol.Hagen@hydro.com
媒體聯繫人:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
該信息已由Hydro投資者關係和上述聯繫人提交以供發佈。本公告中包含的某些陳述包含前瞻性信息,包括但不限於以下方面的信息:(a) 預測、預測和估計;(b) 水電管理層有關計劃、目標和戰略的聲明,例如計劃擴張、投資、撤資、削減或其他項目;(c) 目標產量和成本、產能或利潤率、啓動成本、成本削減和利潤目標;(d) 對海德魯未來發展的各種預期市場,尤其是價格、供應和需求和競爭,(e)經營業績,(f)利潤率,(g)增長率,(h)風險管理,以及(i)保留聲明,例如 “預期”、“預定”、“目標”、“計劃”、“計劃”、“提議”、“打算” 或類似內容。儘管我們認爲此類前瞻性陳述中反映的預期是合理的,但這些前瞻性陳述基於許多假設和預測,從本質上講,這些假設和預測涉及風險和不確定性。
各種因素可能導致我們的實際業績與前瞻性陳述中的預測存在重大差異,或者影響特定預測的實現程度。可能導致這些差異的因素包括但不限於:我們持續調整和重組上游和下游業務的能力;能源和原材料供應和成本的變化;鋁和鋁產品的全球供需;世界經濟增長,包括通貨膨脹率和工業生產率;貨幣相對價值和大宗商品合約價值的變化;水電主要市場和競爭的趨勢;以及立法、監管和政治因素。無法保證這樣的期望會被證明是正確的。除非法律要求,否則海德魯不承擔任何更新或修改任何前瞻性陳述的義務,無論是由於新信息、未來事件還是其他原因。根據《歐盟市場濫用條例》,這些信息被視爲內幕消息,並受《挪威證券交易法》第5-12條規定的披露要求的約束。
附件
- NHY 2024 年第二季度演講
- NHY 報告 2024 年第二季度