It was reported that Norsk Hydro ASA, a Norwegian aluminum and renewable energy company, posted its EBIT (earnings before interest and taxes) of 949 million kroner in the second quarter of this year, about 8.5% higher compared to the same period a year ago.
The good performance in the second quarter was attributed to higher output and lower production costs at Alunorte alumina refinery in Brazil. These positive factors were partially offset by the reduction in downstream alumina production and a decrease in alumina and aluminum prices.
According to Norsk Hydro, its Alunorte alumina refinery was expected to realize full capacity production by the end of 2020.
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