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Norsk Hydro Q1 record profit beats forecast

Reuters
·2-min read
Production line under construction at a casting house in the Norsk Hydro aluminium plant in Karmoey

OSLO (Reuters) - Norwegian aluminium-maker Norsk Hydro reported on Tuesday record quarterly profits that beat expectations as metal prices soared.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 11.2 billion crowns ($1.19 billion) in the January-March quarter from 5.2 billion a year ago, while analysts on average had expected 10.6 billion.

($1 = 9.4207 Norwegian crowns)

(Reporting by Gwladys Fouche, editing by Terje Solsvik)