“If the past decade has been a financial challenge for aluminum, it is not because of the lack of trust in the future viability of the metal. But on the contrary. Exaggerated optimism led to over-investment and overcapacity, which in turn reduced prices and profitability. This was exacerbated by the weaker demand in the wake of the financial and economic turmoil that started in 2008, ”wrote CEO Svein Richard Brandtzæg in his letter to the shareholders.
“Now we're focusing our efforts on making improvements where we have the power, by further expanding restructuring measures and improvement programs, and by controlling costs and margins. Despite the current economic turmoil, I have never been more convinced of the future viability of our metal, ”emphasizes Brandtzæg.
The "Annual Report - 2011" is the main report for 2011 with detailed information on business activities, earnings, assets and financial position as well as future viability and corporate governance, as well as the annual financial statements. This report is only available in English.