Annual Report 2022: Unique position in a new reality

Hydro entered 2022 on the back of the strongest aluminium markets in decades following the aftermath of the Covid-19 pandemic. However, the year would soon be dominated by a devastating war in Europe, an energy crisis, spiking inflation and a global economic slowdown, including a significant fall in aluminium demand. We are pleased to present Hydro’s best financial result ever during what turned into a challenging year.