Quarterly reports
Hydro's underlying income from continuing operations was NOK 968 million in the third quarter of 2008, down from NOK 1,335 million in the previous quarter and NOK 2,114 million in the same quarter last year, mainly due to seasonally lower demand in weakening markets and continued pressure on upstream input costs.
Within a strong year for Hydro, underlying income from continuing operations in the fourth quarter fell to NOK 1,425 million from NOK 1,981 million in the third quarter and NOK 1,960 million in the fourth quarter of 2006, mainly due to lower aluminium prices, weakening markets for downstream operations and unfavorable currency developments.
The strong earnings trend has continued in 2006 despite lower than planned oil and gas production. Aluminium has been divided into to new business areas, Aluminium Metal and Aluminium Products. Increased aluminium prices have significantly improved profitability in Aluminium Metal compared to previous years. Read more in the 2006 quarterly reports.
Hydros financial results in 2005 were the best ever in Hydros 100 year history. With the acquisition of US based Spinnaker Exploration Company and the agreement to acquire a 50 percent interest in a heavy oil field offshore Brazil, Hydro significantly strengthened its international position. Exploration results were promising, while continued low profitability in the downstream aluminium activities resulted in a strategy shift for Aluminium at the end of the year. Read more in the 2005 quarterly reports.
During 2004 oil and gas production reached new record levels with continued high oil and gas prices. The operational performance was strong throughout the year, and the financials were solid. Agri was listed as Yara International ASA on the Oslo Stock Exchange in March 2004. Read more in the 2004 quarterly reports.
Quarterly reports in PDF format for the years 1997-2002.
