OSLO (dpa-AFX) - Norwegian energy and aluminum company Norsk Hydro ASA (NHY, NHYDY.PK, NHYDY.PK) reported Tuesday that its fourth-quarter net income from continuing operations was 8.53 billion Norwegian Kroner, up 18 percent from 7.23 billion kroner a year ago.
Earnings per share from continuing operations grew 2 percent to 3.47 kroner from 3.40 kroner a year ago.
Adjusted net income from continuing operations was 5.81 billion kroner, compared to 1.09 billion kroner last year. Adjusted earnings per share from continuing operations were 2.57 kroner, up from 0.47 kroner a year earlier.
Earnings before financial items, tax, depreciation and amortization or EBITDA climbed 45 percent to 12.46 billion kroner. Adjusted EBITDA was 9.01 billion kroner, significantly higher than last year's 3.40 billion kroner.
Revenue climbed 56 percent to 46.43 billion kroner from last year's 29.82 billion kroner.
Hydro achieved an adjusted return on average capital employed of 18.6 percent in 2021, significantly higher than the 3.7 percent achieved in 2020. It is also above the ambition to deliver 10 percent over the cycle.
Looking ahead, President and CEO Hilde Merete Aasheim, said, 'Hydro's 2025 strategy aims at increasing production of low-carbon aluminium and growing in renewable energy.'
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