Hydro's main report for 2011 is the “Annual Report - 2011 (Detailed Report - 2011)”, which contains detailed information about Hydro's business, operating performance, financial results, corporate governance and statements financial resources. The report is in English only.
“In financial terms, aluminum has been a challenge in the past decade, due not to a lack of confidence in metal, but, on the contrary, an over-reliance on aluminum. Exaggerated optimism has led to excess investments and production capacity and, consequently, to lower prices and profits - aggravated by the decline in demand due to the financial crisis that started in 2008, ”writes President and CEO, Svein Richard Brandtzæg, in your letter to shareholders.
“Our efforts are on what we can do to improve ourselves, reinforcing our repositioning measures and performance improvement programs, as well as tightly controlling spending and margins. Despite the current financial turmoil, I have never been more certain that the future is ours, ”says Brandtzæg.