Norsk Hydro AS Norsk Hydro Annual Reporting 2016: Making The World Lighter

 
TIDMNHY 
 
 
   "After years of improvement efforts motivated by the need to adapt to 
external challenges, we are now starting to take advantage of new 
opportunities. After years of talking about being part of the solution, 
we are now turning words into action. In everyday operations Hydro is a 
producer of aluminium. In the broader picture, I see Hydro in the 
business of making the world lighter - by light-weighting people's daily 
lives and by easing the burden of climate change by saving greenhouse 
gas emissions and improving energy-efficiency," President and CEO Svein 
Richard Brandtzæg writes in his letter to shareholders. 
 
   "More and more discover the inherent properties of aluminium. Through 
innovation and product development we bring new aluminium solutions into 
new applications. Due to its light weight, formability, durability and 
endless recyclability, the growth is strikingly broad-based, spanning 
sectors like transportation, packaging, building & construction as well 
as electrical applications. While other base metals seem to have reached 
the point of saturation in many markets, aluminium still has a 
significant potential for increased use. In 2017 we're expecting demand 
for aluminium to grow by a healthy 3-5 percent," Brandtzæg says. 
 
 
   "Last year we invested in future-oriented projects that we expect to be 
successful seen from a strategic, financial and a climate point of view. 
In 2017 three important symbols of the new era will be in full 
operation; the Karmøy Technology Pilot in Norway, the Automotive 
Line 3 and the UBC recycling line in Germany, Brandtzæg continues. 
 
   "Seizing new opportunities doesn't mean that we have put our improvement 
efforts behind us. It's in our company DNA to always improve and renew 
and do better tomorrow than we did yesterday - in safety, in operations, 
and financially. I am especially pleased with how the improvement 
efforts are giving tangible results in safety. Our first duty is to make 
sure that our colleagues return home from work just as safe and sound as 
when they turn up. A year without fatalities and a TRI rate of 2.6 
(work-related injuries per million work hours) make 2016 our best-ever, 
both for our own employees and contractors. We can never take safety for 
granted. We have to work for it and be aware every single day, aiming at 
zero fatalities and a TRI rate below 2 by 2020. Improvements also 
materialize on the bottom-line. By delivering NOK 1.4 billion in 
improvements in 2016, we surpassed our NOK 1.1 billion target. It 
encourages me to see that our people even know how to do 'Better' 
better. It also allows us to offer a safe and reliable dividend to 
shareholders," Brandtzæg says. 
 
   "I am happy, not only about the results we achieve, but also by how we 
achieve them. By being a 360 degree aluminium company, fully integrated 
along the entire aluminium value-chain, Hydro is in a unique position to 
control every step of production, and be responsible - for the land, 
water and forests, for our employees and the communities we engage with, 
for the energy use and emissions in our processes, and for bringing end 
products back into the loop to be used over again. By being part of the 
solution to some of the mega trends of our time, light-weighting being 
one of them - supported by determined implementation of ever new steps 
under the Better, Bigger, Greener aspiration - we are ready to set out 
for another 100 years. It's an inherent strength of our Hydro Way. We 
have the patience to take the long-term perspective, and the eagerness 
to use every opportunity, every day, to make things happen, " 
Brandtzæg says. 
 
   The report, meeting the Norwegian statutory requirements for annual 
reporting, is "Financial Statements and Board of Directors' Report - 
2016." This report is available in Norwegian and English. 
 
   In addition, a more extensive report is available, "Annual Report - 
2016," with detailed information about Hydro's businesses, operational 
performance, financial performance, viability performance, corporate 
governance and financial statements. The report is available in English. 
 
   At www.hydro.com/reporting2016 content from the two reports is presented 
with supplementary information. All parts of the reports can be 
downloaded from this web site and printed in PDF format on demand. 
 
   Hydro's main reporting on viability performance is included in the 
"Annual Report - 2016," with additional details on 
www.hydro.com/reporting2016 
 
   Investor contact 
 
   Contact Stian Hasle 
 
   Cellular [phone] 
 
   E-mail [e-mail] 
 
   Press contact 
 
   Contact Halvor Molland 
 
   Cellular [phone] 
 
   E-mail [e-mail] 
 
   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. 
 
   Although we believe that the expectations reflected in such 
forward-looking statements are reasonable, these forward-looking 
statements are based on a number of assumptions and forecasts that, by 
their nature, involve risk and uncertainty. Various factors could cause 
our actual results to differ materially 
 
   from those projected in a forward-looking statement or affect the extent 
to which a particular projection is realized. Factors that could cause 
these differences include, but are not limited to: our continued ability 
to reposition and restructure our upstream and downstream businesses; 
changes in availability 
 
   and cost of energy and raw materials; global supply and demand for 
aluminium and aluminium products; world economic growth, including rates 
of inflation and industrial production; changes in the relative value of 
currencies and the value of commodity contracts; trends in Hydro's key 
markets and competition; and legislative, regulatory and political 
factors. 
 
   No assurance can be given that such expectations will prove to have been 
correct.  Hydro disclaims any obligation to update or revise any 
forward-looking statements, whether as a result of new information, 
future events or otherwise. 
 
   This information is subject to the disclosure requirements pursuant to 
section 5-12 of the Norwegian Securities Trading Act. 
 
   Annual Report 2016: http://hugin.info/106/R/2088427/788287.pdf 
   Financial statements and Board of Directors report 2016: 
http://hugin.info/106/R/2088427/788289.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Norsk Hydro via Globenewswire 
 
 
  http://www.hydro.com/en/?WT.mc_id=Pressrelease 
 

(END) Dow Jones Newswires

March 17, 2017 02:59 ET (06:59 GMT)

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