Aluminium producer Norsk Hydro’s Q1 core profit lags forecast, cuts extrusions outlook

Norwegian aluminium producer Norsk Hydro reported a 76% rise in first-quarter core profit on Tuesday, boosted by higher aluminium and alumina prices and currency gains, but cut its extrusions segment outlook on weaker downstream demand.

Adjusted earnings before interest, taxes, depreciation and amortisation rose to 9.52 billion Norwegian crowns ($918.6 million) in the January-March period from 5.41 billion crowns a year earlier.

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Despite the jump, analysts on average had expected it to report a core profit of 9.86 billion crowns, according to a company-compiled consensus.