Underlying EBIT increased to NOK 6,133 million compared with NOK 3,351 in 2010, driven by higher realized alumina and aluminium prices and higher production volumes, mainly due to the Vale acquisition. Underlying results for Hydro's downstream operations were impacted by weaker markets which declined in the second half of 2011.

During 2011, Hydro continued to focus on liquidity and sustaining capital expenditures. Except for Vale Aluminium, investments were mainly related to maintenance activities to safeguard our production assets.

The increase in number of employees from 2010 to 2011 is mainly due to the acquisition of Vale's former aluminium business in Brazil, while restructuring measures elsewhere in the company, especially within Hydro Building Systems, had an opposit effect on the overall level.

Due to the Vale aluminium acquisition Hydro’s climate gas emissions from consolidated activities increased significantly in 2011. However, emissions from the company’s smelters – per ton produced – are steadily decreasing. Figures include historical emissions from current operations.