Norsk Hydro annual reporting 2016: Making the world lighter
(Thomson Reuters ONE) -
"After years of improvement efforts motivated by the need to adapt to external
challenges, we are now starting to take advantage of new opportunities. After
years of talking about being part of the solution, we are now turning words into
action. In everyday operations Hydro is a producer of aluminium. In the broader
picture, I see Hydro in the business of making the world lighter - by light-
weighting people's daily lives and by easing the burden of climate change by
saving greenhouse gas emissions and improving energy-efficiency," President and
CEO Svein Richard Brandtzæg writes in his letter to shareholders.
"More and more discover the inherent properties of aluminium. Through innovation
and product development we bring new aluminium solutions into new applications.
Due to its light weight, formability, durability and endless recyclability, the
growth is strikingly broad-based, spanning sectors like transportation,
packaging, building & construction as well as electrical applications. While
other base metals seem to have reached the point of saturation in many markets,
aluminium still has a significant potential for increased use. In 2017 we're
expecting demand for aluminium to grow by a healthy 3-5 percent," Brandtzæg
says.
"Last year we invested in future-oriented projects that we expect to be
successful seen from a strategic, financial and a climate point of view. In
2017 three important symbols of the new era will be in full operation; the
Karmøy Technology Pilot in Norway, the Automotive Line 3 and the UBC recycling
line in Germany, Brandtzæg continues.
"Seizing new opportunities doesn't mean that we have put our improvement efforts
behind us. It's in our company DNA to always improve and renew and do better
tomorrow than we did yesterday - in safety, in operations, and financially. I am
especially pleased with how the improvement efforts are giving tangible results
in safety. Our first duty is to make sure that our colleagues return home from
work just as safe and sound as when they turn up. A year without fatalities and
a TRI rate of 2.6 (work-related injuries per million work hours) make 2016 our
best-ever, both for our own employees and contractors. We can never take safety
for granted. We have to work for it and be aware every single day, aiming at
zero fatalities and a TRI rate below 2 by 2020. Improvements also materialize on
the bottom-line. By delivering NOK 1.4 billion in improvements in 2016, we
surpassed our NOK 1.1 billion target. It encourages me to see that our people
even know how to do 'Better' better. It also allows us to offer a safe and
reliable dividend to shareholders," Brandtzæg says.
"I am happy, not only about the results we achieve, but also by how we achieve
them. By being a 360 degree aluminium company, fully integrated along the entire
aluminium value-chain, Hydro is in a unique position to control every step of
production, and be responsible - for the land, water and forests, for our
employees and the communities we engage with, for the energy use and emissions
in our processes, and for bringing end products back into the loop to be used
over again. By being part of the solution to some of the mega trends of our
time, light-weighting being one of them - supported by determined implementation
of ever new steps under the Better, Bigger, Greener aspiration - we are ready to
set out for another 100 years. It's an inherent strength of our Hydro Way. We
have the patience to take the long-term perspective, and the eagerness to use
every opportunity, every day, to make things happen, " Brandtzæg says.
The report, meeting the Norwegian statutory requirements for annual reporting,
is "Financial Statements and Board of Directors' Report - 2016." This report is
available in Norwegian and English.
In addition, a more extensive report is available, "Annual Report - 2016," 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/reporting2016 content from 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 - 2016," with additional details on www.hydro.com/reporting2016
Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle(at)hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland(at)hydro.com
Cautionary note
Certain statements included in this announcement contain forward-looking
information, including, without limitation, information relating to (a)
forecasts, projections and estimates, (b) statements of Hydro management
concerning plans, objectives and strategies, such as planned expansions,
investments, divestments, curtailments or other projects, (c) targeted
production volumes and costs, capacities or rates, start-up costs, cost
reductions and profit objectives, (d) various expectations about future
developments in Hydro's markets, particularly prices, supply and demand and
competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk
management, and (i) qualified statements such as "expected", "scheduled",
"targeted", "planned", "proposed", "intended" or similar.
Although we believe that the expectations reflected in such forward-looking
statements are reasonable, these forward-looking statements are based on a
number of assumptions and forecasts that, by their nature, involve risk and
uncertainty. Various factors could cause our actual results to differ materially
from those projected in a forward-looking statement or affect the extent to
which a particular projection is realized. Factors that could cause these
differences include, but are not limited to: our continued ability to reposition
and restructure our upstream and downstream businesses; changes in availability
and cost of energy and raw materials; global supply and demand for aluminium and
aluminium products; world economic growth, including rates of inflation and
industrial production; changes in the relative value of currencies and the value
of commodity contracts; trends in Hydro's key markets and competition; and
legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been
correct. Hydro disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Annual Report 2016:
http://hugin.info/106/R/2088427/788287.pdf
Financial statements and Board of Directors report 2016:
http://hugin.info/106/R/2088427/788289.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norsk Hydro via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2017 - 07:59 Uhr
Sprache: Deutsch
News-ID 530871
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contact information:
Town:
Oslo
Kategorie:
Business News
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