Norsk Hydro

Annual report 2020 - Emerging stronger from an extraordinary year - Seite 2

“We take inspiration from our ability to mobilize as we face another important transformation: The green transition. In 2020, we established a new strategic direction toward 2025, building on our profitability and sustainability agenda. We will pursue our strategic ambition by capturing opportunities where our capabilities match the global megatrends such as sustainability, electrification and urbanization.

“The two pillars of our strategic agenda are about strengthening our position in low-carbon aluminium, while exploring new growth opportunities in areas such as recycling, renewable energy and batteries. This is how we will create value going forward.

“As a global energy and aluminium company, Hydro is committed to leading the way by creating more for less. With a new strategic direction, we embark on the next chapter in Hydro's history of building industries that matter and creating value by taking a lead role in the green transition, producing products and solutions for the low-carbon, circular economy,” says Aasheim.

The report, meeting the Norwegian statutory requirements for annual reporting, is "Financial Statements and Board of Directors' Report – 2020." This report is available in Norwegian and English.

In addition, a more extensive report is available, "Annual Report – 2020," with detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance, environmental, social and financial statements. The report is available in English.

Investor contact:
Line Haugetraa
[phone]

Media contact:
Halvor Molland
[phone]


Cautionary note

Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar.