Record earnings for Hydro in first half

Hydro's net income of NOK 2,180 million in the second quarter of 2001 demonstrates continued profitability at a high level, but earnings were affected by weaker market conditions and non-recurring costs relating to downsizing and rationalization programs. The result was NOK 595 million lower than in the corresponding period last year, while earnings in the first half were NOK 5,415 million, which is an improvement of NOK 189 million compared to last year. Operating income for the second quarter was NOK 6,065 million, which is NOK 967 million lower than the corresponding period in 2000. The second quarter result contains write-offs for non-recurring items relating to these programs totaling NOK 865 million.

Earnings per share were NOK 8.40 in the second quarter (2000: NOK 10.60) and NOK 20.90 in the first half (2000: NOK 20.00).

For more information on Norsk Hydro ASA and the second quarter results, visit
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