Hydro’s adjusted EBITDA in Q3 2025 was 5.996 million NOK, down from 7.367 million NOK in the same quarter last year. Factors like lower realized alumina prices and a stronger Norwegian krone contributed to the decrease. However, higher primary metal and alumina volumes partially offset the decline, resulting in a free cash flow of 2.2 billion NOK and an adjusted RoaCE of 11%.

Hydro CEO Eivind Kallevik commented on the challenging market conditions in Q3, highlighting the company’s focus on efficiency and improvement measures to strengthen its position despite lower adjusted EBITDA. A workforce and cost reduction program was initiated to optimize the organization and enhance long-term competitiveness, aiming for significant cost savings in the coming years.

Hydro’s strategic efforts in low-carbon aluminum production continue with the signing of a long-term power agreement for Alouette until 2045, ensuring a stable energy supply. The company also progresses in exiting the battery business, recently exchanging shares with Arverne Group and agreeing to sell its stake in Corvus Energy for $30 million.

Legal success for Hydro as a Dutch court dismissed all claims filed by Brazilian association Cainquiama and nine individuals in 2021, relating to alleged pollution by Alunorte. Extensive evidence presented during the trial refuted the claims, reinforcing Hydro’s commitment to environmental responsibility. The company’s focus on sustainable solutions is exemplified through collaborations with customers like Mercedes-Benz and innovative projects like the Hangar Bridge.

Financially, Hydro experienced fluctuations in key figures such as adjusted EBITDA for different business segments in Q3 2025. While Bauxite & Alumina saw a decline, Extrusions and Metal Markets showed improvements. The company’s net debt decreased, driven by operational performance and strategic initiatives, further positioning Hydro to navigate global uncertainties effectively.

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