Hydro's Q1 Production Volume Weak Due To Alunorte, Cyber Attack - Quick Facts

(RTTNews) - Norwegian aluminium and renewable energy company Norsk Hydro (NHY, NHYDY.PK, NHYDY.PK) Tuesday reported that its overall production volumes in the first quarter fell from last year.

The weakness was due to the continued Alunorte curtailment and the recent cyber attack that caused production challenges, predominantly in Extruded Solutions.

The company estimates the cyber attack to have a financial impact of 400 million Norwegian kroner to 450 million in the first quarter.

As per preliminary data, the external sales volumes in Extruded Solutions fell to 333,000 tonnes in the quarter from 362,000 tonnes last year.

Hydro's other business areas, including Bauxite & Alumina, Primary Metal, Rolled Products and Energy, recorded close to normal result, despite the attack.

Hydro maintains its expectation that the global primary aluminium market will be in deficit for the full-year 2019, with continued macro uncertainty.

As announced earlier, Hydro will report its complete first quarter results on June 5 due to the cyber attack.