NHYDY - Norsk Hydro Non-GAAP EPS of NOK1.70 revenue of NOK48.53B

2023-04-28 01:10:24 ET

• Norsk Hydro press release ( OTCQX:NHYDY ): Q1 Non-GAAP EPS of NOK 1.70.
• Revenue of NOK 48.53B (+4.1% Y/Y).
• Compared to the fourth quarter, Hydro’s adjusted EBITDA increased from NOK 7,184 million to NOK 7,525 million in the first quarter 2023.
• Hydro's net cash decreased from NOK 1.3 billion at the end of the fourth quarter 2022 to a net debt position of NOK 1.7 billion at the end of the first quarter 2023. Net cash provided by operating activities, excluding release of collateral, amounted to NOK 2.9 billion.
• Adjusted net debt increased from NOK 6.0 billion to NOK 8.5 billion, largely due to the increase in net debt, partly offset by reduced collateral of NOK 0.7 billion.
• It has delivered strong earnings improvements over the last eight years, from NOK 1.9 billion in adjusted EBITDA for Sapa in 2014 to NOK 7.0 billion in 2022, and is well underway to deliver NOK 8 billion adjusted EBITDA by 2025.

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