March 15, 2019 / 3:14 PM / 5 days ago

Norsk Hydro says Alunorte problems, higher raw material costs led to 2018 underlying EBIT fall

OSLO, March 15 (Reuters) - Aluminium producer Norsk Hydro saw its 2018 underlying earnings before interest and tax reduced by 2.15 billion crowns ($251.61 million) due to higher raw material costs and reduced operations at Brazil’s Alunorte plant, it said on Friday.

Alunorte, the world’s largest alumina refinery, is running at half of capacity. Norsk Hydro is awaiting permission from Brazilian authorities to resume full output.

$1 = 8.5449 Norwegian crowns Reporting by Barbara Lewis and Nerijus Adomaitis, editing by Gwladys Fouche

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