“We entered last year in a state of deep pessimism - but left it with a sense of sober optimism. The bottom is probably behind us. And while the crisis is temporary, the measures we have implemented to meet the crisis are providing lasting improvements,” Hydro President and CEO Svein Richard Brandtzæg says in the company’s annual reporting, published on Hydro’s internet site www.hydro.com on Friday.
“Last year our focus was on defensive measures. Now we are on the offensive. Improving profits is our primary challenge - in addition to making the most of the infinite opportunities of aluminium.” Brandtzæg says in his letter to shareholders.
Hydro’s main report for 2009 is "Annual Report – 2009" and includes detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance and financial statements.
In addition, a report has been prepared specifically for distribution to shareholders; "Financial Statements and Board of Directors' Report – 2009" which fulfills the Norwegian statutory requirements to annual reporting.
At www.hydro.com/reporting2009 the full content of the two reports are presented together with some supplementary information. Hard copies of both reports can be ordered from this website, and all parts of the reports can be downloaded and printed in PDF-format on demand.
Hydro's main reporting on viability performance is included in the "Annual Report – 2009", with additional details on www.hydro.com/reporting2009.
Shareholders registered directly in the Norwegian Central Securities Depository (VPS) and which do not subscribe electronically to the Annual General Meeting documents will automatically receive hard copies of the "Financial Statements and Board of Directors' Report - 2009". Other shareholders and stakeholders may request a hard copy of any of Hydro's 2009 reports at www.hydro.com/reporting2009 free of charge. Distribution of the hard copies will start in the beginning of April.