Norsk Hydro: Integrated Annual Report 2025: Increasing resilience to reach 2030 ambitions

13 Feb 2026 08:00 CET

2025 was another year marked by geopolitical instability. Hydro's
geographic diversification and integrated value chain strengthens the resilience
in navigating these challenges. Throughout 2025, Hydro implemented measures to
increase agility and accelerate growth to achieve the strategic goals for
2030.

Aluminium is classified as a critical raw material by EU, the U.S., and NATO,
and Hydro's low-carbon aluminium is therefore well positioned to play a key role
in the green transition and the growing need for critical materials in the years
ahead.

"We know that what we produce, where we produce it and how we produce it is more
important than ever," says Eivind Kallevik, President and CEO of Hydro, in his
Letter to Stakeholders in the Integrated Annual Report 2025.

Adjusted EBITDA for 2025 was NOK 28.9 billion, up from NOK
26,3 billion in 2024. The adjusted RoaCE was 10.2 percent, slightly above the
target of 10 percent over the cycle. These results reflect the company's
resilience in a challenging market environment.

To enhance agility, several capital discipline measures were implemented in
2025, including a strategic workforce reduction in white collar positions and
a proposed restructuring process in Hydro Extrusions. In addition, the
improvement program launched in late 2024 has delivered NOK 1.4 billion in
improvements and the capex guiding was reduced during the year.

Improved earnings allow for competitive shareholder returns. Since
2021, Hydro has distributed NOK 37.6 billion to shareholders, with a proposal to
pay out another NOK 5.9 billion for 2025, representing 60 percent of adjusted
net income.

Delivering on Hydro's strategy

In 2025, Hydro continued to advance its 2030 ambition of pioneering the
green aluminium transition, powered by renewable energy. Despite pressured
markets in both Recycling and Extrusions, initiatives in these areas are driving
profitable growth. Multiple new long-term power contracts have been signed
to secure the energy needed to meet future demand. Decarbonization and
technology roadmaps are guiding initiatives across the value chain to reduce
emissions, while commercial partnerships are enabling investments in low-carbon
solutions.

Hydro's position as a robust and transparent supplier of low-
carbon aluminium is increasingly valued in a more challenging geopolitical
landscape. Going forward Hydro will continue to build on this foundation and
grow with the right structure to reach its ambitions for 2030.


Investor contact:
Baard Erik Haugen
+47 92497191
Erik.Haugen@hydro.com

 Elitsa Blessi
+47 91775472
Elitsa.Blessi@hydro.com


Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com


This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

More information:
Access the news on Oslo Bors NewsWeb site

665788_NHY Remuneration report 2025.pdf
665788_Integrated Annual Report 2025.pdf