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Time to lean forward again
We entered last year in a state of deep pessimism – but left it with a sense of sober optimism. The bottom is probably behind us. And while the crisis is temporary, the measures we have implemented to meet the crisis are providing lasting improvements.Letter to shareholders
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Market situation
Nordic electricity prices were significantly lower in 2014 due to an improved hydrological balance compared to the previous year. -
Board of directors report
Several years of significant operational and commercial improvements implemented throughout the value chain have strengthened Hydro's ability to create value in an environment of improving market fundamentals. -
Viability performance
Hydro's mission is to create a more viable society by developing natural resources and products in innovative and efficient ways. -
Business description
Hydro is a resource rich, fully integrated aluminium company with operations in all major activities along the aluminium industry's value chain.