Annual reporting 2011: Short-term challenges - long-term opportunities
(Thomson Reuters ONE) -
"While financially speaking, aluminium has been challenging over the past
decade, it may not be because of a lack of confidence, but paradoxically because
of an over-confidence in aluminium. An exaggerated optimism has led to over-
investment and surplus capacity, weighing down prices and profitability,
amplified by weaker demand due to the financial and economic unrest that started
in 2008," President and CEO Svein Richard Brandtzæg writes in his letter to
shareholders.
"We are focusing our efforts on what we ourselves can do to improve, further
reinforcing our repositioning measures and performance improvement programs,
firmly controlling costs and margins. Despite the current economic turbulence, I
have never been more certain that we are future proof," Brandtzæg says.
The report meeting the Norwegian statutory requirements for annual reporting is
"Financial Statements and Board of Directors' Report - 2011." This report is
available in Norwegian and English.
In addition, a more extensive report is made available, "Annual Report - 2011",
with detailed information about Hydro's businesses, operational performance,
financial performance, viability performance, corporate governance and financial
statements. The report is available in English.
At www.hydro.com/reporting2011 the full content of the two reports is presented
with supplementary information. All parts of the reports can be downloaded from
this web site and printed in PDF format on demand.
Hydro's main reporting on viability performance is included in the "Annual
Report - 2011," with additional details on www.hydro.com/reporting2011
Shareholders and stakeholders may request a printed copy of any of Hydro's 2011
reports at www.hydro.com/reporting2011 free of charge.
Financial statements and Board of Directors report 2011:
http://hugin.info/106/R/1595922/502836.pdf
Annual Report 2011:
http://hugin.info/106/R/1595922/502818.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norsk Hydro via Thomson Reuters ONE
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Datum: 21.03.2012 - 15:49 Uhr
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