NHYKF - Norsk Hydro - A Changing World In Aluminum Meaning Higher Appeal
2024-03-16 04:32:29 ET
Summary
- Norsk Hydro reported a significant decline in overall results for 4Q23 and FY23, with a 50% drop in EBITDA.
- The company exceeded improvement and efficiency targets for the year.
- Despite challenges in 2023, there are initial signs of improvement in demand and inventory balances for 2024. I view the company as a "BUY" here.
Dear readers/followers,
Norsk Hydro ( OTCQX:NHYDY ) is a company that I've reviewed a number of times over the past few years. I had a very appealing position in the company that I bought at below 30 NOK/share, and sold at over 60, for a triple-digit RoR. The company has not declined back down again as quickly as I expected this to happen, but the fundamental appeal of the business has also increased quite a bit due to the changing nature of the aluminum sector.
In this article, we'll digest full-year results for the company, and see what we can expect for the coming year. Norsk Hydro reported 4Q in the middle of February - and on a year-over-year basis, the company saw a significant overall decline from the previous year....
Norsk Hydro - A Changing World In Aluminum, Meaning Higher Appeal