• LAKIR & nbsp; underlying NOK 8 million
• Sharp decline in alumina and aluminum prices
• Record bauxite production
• Reduction in downstream sales volume, partially offset by lower operating costs
• Lower production and prices in energy

"The realized alumina and aluminum prices in the quarter clearly reflect the insecurity that prevails in the market and the world economy, affecting our weak quarterly results. Hydro's response to this situation was to turn its attention to operational performance, management portfolio and financial discipline, ”said President Svein Richard Brandtzæg.
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" The transaction planned to be concluded with Orkla, creating the world's leading supplier of aluminum solutions, strengthens Hydro as a world leader in aluminum and resource-rich, as well as strengthening our extrusion businesses. Most of the extrusion markets are still struggling and the new company will be better prepared to face these challenges and to take advantage of the long-term growth prospects for aluminum products, ”adds Brandtzæg.
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There was an even greater decrease in the EBITDA of Bauxite & amp; Alumina, in relation to the weak results of the previous quarter, mainly due to the greater reduction in realized alumina prices and lower sales volumes.
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Metal Primário's EBITDA fell compared to the second quarter , also impacted by lower realized prices. Lower operating costs partially offset the negative effects of the market. Qatalum's operating results point to a decline compared to the second quarter, which included final insurance payment for a blackout in 2010. & nbsp;
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Excluding inventory and currency effects, Hydro's operating results from midstream operations remained stable during the quarter.
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Lower costs in the downstream business Hydro had a positive impact on the quarter's EBITDA. The operating results of Extruded Products, however, declined, affected by lower seasonal volumes and lower market demand. The results of the quarter continue to suffer the impact of the difficult economic situation that Europe is going through.
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In the Energy business, there was a fall in LAJIR, compared to the previous quarter, due to lower prices and production.
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Operating cash flow totaled NOK 1.1 billion in the quarter and net cash for investments was NOK 1 billion. Hydro's net debt position was around zero at the end of the third quarter.
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Hydro reported losses before interest and taxes of NOK 414 million in the third quarter, including non-net losses derivatives and negative effects of NOK 108 million metal, in addition to other items totaling NOK 314 million. Other items included a loss of NOK 144 million from the sale of Portalex and a reduction in the recoverable amount of assets (impairment) by a total of NOK 163 million. Other items also included NOK 75 million closing and rationalization costs, related to Extruded Products and the Kurri Kurri plant, plus a NOK 68 million gain from pensions.
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In the previous quarter, Hydro reported a loss before interest and tax of NOK 720 million, including net unrealized gains on derivatives equivalent to NOK 300 million, closing and rationalization costs of NOK 408 million, a reduction in the recoverable value of NOK 1,175 million assets and positive effects of NOK 9 million metal. & nbsp;

Hydro suffered a net loss of NOK 231 million in the third quarter, including net foreign exchange earnings of NOK 283 million. In the previous quarter, the reported net loss was NOK 1.712 million, including net exchange losses of NOK 883 million. & nbsp;

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