Hydro Q2 2026 Earnings Jump on Higher Aluminium Prices
Aluminum | 2026-07-22 07:05:19
The company also announced plans to restart part of its Slovalco aluminium smelter in Slovakia after reaching a long-term agreement with the Slovak government.
By Paul Ploumis
SEATTLE (Scrap Monster): Norwegian aluminium producer Hydro posted stronger financial results for the second quarter of 2026, supported by higher aluminium prices, an improved recycling market, and solid operational performance across its business.
The company reported adjusted EBITDA of NOK 8.92 billion, up from NOK 7.79 billion in the same period last year. Adjusted earnings per share also improved to NOK 2.2 from NOK 1.7, while free cash flow reached NOK 4 billion during the quarter.
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Among business segments, Aluminium Metal delivered the strongest growth, with adjusted EBITDA surging to NOK 6.42 billion, driven by improved metal prices and lower alumina costs. The Extrusions division also recorded higher earnings, while the Recycling business generated more than NOK 900 million in adjusted EBITDA.
The company also announced plans to restart part of its Slovalco aluminium smelter in Slovakia after reaching a long-term agreement with the Slovak government. Around 75,000 tonnes of production capacity is expected to return during the second half of 2026.
Hydro further strengthened its renewable energy portfolio by signing a 10-year power agreement with Eviny and a five-year supply agreement with Nexans.
Hydro President and CEO Eivind Kallevik said the quarter reflected the company's operational resilience and highlighted the importance of stable energy policies in supporting Europe's aluminium industry.
