Norwegian aluminum producer Norsk Hydro reported that its first-quarter profit surged by 76% due to higher aluminum prices, though it slightly missed forecasts. The company cut its outlook for the extrusion division due to weaker demand in the downstream market.

The company now expects 2025 adjusted EBITDA around NOK 4.5 billion, down from its earlier range of NOK 4.5 to 5.5 billion. It also cautioned it could drop further if CRU's demand growth forecasts slow.

In the first quarter, the adjusted EBITDA rose to NOK 9.52 billion, compared to NOK 5.41 billion in the same period a year ago.

President and CEO Eivind Kallevik said there will be no direct impact from US tariffs, but he is wary of broader economic uncertainty.