NHYDY - Norsk Hydro Non-GAAP EPS of NOK 1.77 revenue of NOK 53.63B; raises FY23 capex guidance
2023-07-21 01:06:34 ET
- Norsk Hydro press release ( OTCQX:NHYDY ): Q2 Non-GAAP EPS of NOK 1.77.
- Revenue of NOK 53.63 billion (-17.2% Y/Y).
- Hydro’s adjusted EBITDA for the second quarter of 2023 was NOK 7,098 million, down from NOK 11,594 million for the same quarter last year.
- Outlook: Increased 2023 capex guidance on currency translation, inflation and return-seeking investments.
- In the second quarter, Hydro undertook a review of the capex portfolio for 2023 and has raised the annual guidance from NOK 16.5 billion (including the Alumetal and Hueck transactions), to NOK 20.5 billion. Estimated capex for Hydro Rein in 2023 has increased from NOK 2.5 billion to NOK 3 billion, also driven by currency translation. No further increased capital allocation is planned for 2023.
- Hydro is on track to deliver on the full year improvement program target of NOK 8.4 billion.
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Norsk Hydro Non-GAAP EPS of NOK 1.77, revenue of NOK 53.63B; raises FY23 capex guidance