Hydro’s earnings fall; Alunorte to hit 2d half

Jul 18, 2013 | 01:00 PM | Deepali Sharma

Tags  Norsk Hydro, aluminum, Alunorte, Svein Richard Brandtzaeg, Sapa, Orkla, Deepali Sharma

SINGAPORE — Norsk Hydro ASA’s earnings plunged in the second quarter compared with the first three months of this year due to lower prices for alumina and aluminum and seasonally lower production, the company said July 18.

Underlying earnings before interest and taxes (Ebit) totaled 518 million Norwegian kroner ($86.25 million), down 52 percent from 1.08 billion kroner in the first quarter and 2.4 percent below 531 million kroner in the second quarter of last year. Revenue of 16.05 billion kroner ($2.67 billion) was down 5 percent from a year earlier.....

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