Norsk Hydro: Fourth quarter 2019: Firm response in weak markets

The afterglow of a major cyber attack…:

[…] The cyber-attack on Hydro on March 19, 2019, affected our entire global organization, with Extruded Solutions having suffered the most significant operational challenges and financial losses. The financial impact of the cyber-attack is estimated to be around NOK 650-750 million for the full year. Hydro has robust cyber insurance in place with recognized insurers. Hydro has recognized NOK 187 million insurance compensation in the fourth quarter with the majority reflected in Extruded Solutions result. Further compensation will be recognized when deemed virtually certain.

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