• LAJIR: NOK 659 million
• Lower costs compensate for weak alumina and aluminum prices
• Low production at Alunorte due to power outages
• Higher production of electric energy in Energy
• Establishment of the new Sapa joint venture
• Expected growth of 2% in world aluminum demand in 2013 outside China

"It is a pleasure to report that we are well on track to reach the target of USD 300 per metric ton in our wholly owned smelting plants by the end of 2013, contributing to a final balance and a more robust cost position. This is a great achievement for Hydro and its entire organization. The constant search for excellence and the continuous efforts to become better provide us with a solid platform for the future ”, says Hydro President Svein Richard Brandtzæg.

The positive development seen in the third quarter was partially affected by the further weakening of Bauxita & amp; Alumina. There was a decline in the business area's LAJIR, compared to the second quarter, due to lower alumina prices on the London Stock Exchange and lower production volumes at Alunorte, after the power outages that occurred in the first half of 2013. < / p>

"As a result of the power outages at Alunorte and the interruption of production a few months ago, we immediately mobilized our resources to stabilize and increase production at the refinery. Following stabilization, we now see that production is gradually increasing, despite leaving low levels, ”said Brandtzæg.

Metal Primário's operating profits (LAJIR) improved, even though realized alumina prices remained low. The low costs related to alumina and electricity, premium prices and lower fixed costs due to the season had a positive effect on the operating results for the quarter. To date, Metal Primário has sold about 50% of its primary aluminum production, scheduled for the fourth quarter of 2013, at a price of around USD 1,800 per metric ton, not to mention the volume of Qatalum.

The EBITDA of Mercados de Metal decreased compared to the previous quarter, affected in large part by the lower volumes of the station and lower margins.

Compared to the second quarter, EBITDA of Produtos Laminados was stable. The seasonal drop in sales was offset by declining operating costs.

The LAJIR of Energia improved compared to the second quarter, basically due to the increase in production and also to spot prices due to low levels of precipitation.

Operating cash flow was NOK 1.1 billion in the third quarter. The net cash used for investment activities amounted to NOK 0.7 billion. Hydro's net debt position was NOK 0.5 billion at the end of the third quarter.

Earnings before interest and taxes totaled NOK 597 million in the third quarter. The reported LAJIR, including net gains on unrealized derivatives and negative effects of the metal, reached a total loss of NOK 80 million, gains on divestments were NOK 53 million and other items added a net loss of NOK 36 million.

The Alunorte aluminum refinery and the Albras aluminum factory signed several contracts in USD in Brazil for the second half of 2013 and for the entire year of 2014. The total value of the program was USD 1,220 million, including amounts already paid , being divided into 30% and 70% for 2013 and 2014 respectively. The average exchange rate achieved for the program as a whole was 2.30 and 2.41 for 2013 and 2014 respectively.

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