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Hydro's financial results are significantly influenced by the oil price, aluminium price and the Norwegian krone/US dollar exchange rate. Find out how the movement in these factors impacts Hydro's results.

Indicative price and currency sensitivities:

Commodity price sensitivity +/- 10%  
NOK million EBIT
Aluminium 3 500
Fuel oil (220)
Petroleum coke (220)
Caustic soda (240)
Coal (50)
Currency sensitivities +/- 10%    
NOK million EBIT Financial items
USD 3410 (370)
BRL (1170) 500
EUR (270) (1820)
  • Annual sensitivites based on normal annual business volumes, LME USD 1 900 per mt, Fuel oil USD 390 per mt, petroleum coke USD 280 per mt, caustic soda USD 470 per mt, coal USD 70 per mt, USD/NOK 8.60, BRL/NOK 2.70, EUR/NOK 9.40
  • Aluminium price sensitivity is net of aluminium price indexed costs and excluding unrealized effects related to operational hedging.
  • BRL sensitivity calculated on a long-term basis with fuel oil assumed in USD. In the short-term, fuel oil is BRL-denominated
  • Excludes effects of priced contracts in currencies different from underlying currency exposure (transaction exposure) 
  • Currency sensitivites on financial items includes effects from intercompany positions and embedded derivatives.
  • Currency sensitivities on financial items do not take into account movements in interest rate forward curves
  • 2017 Platts alumina index (PAX) exposure used