Norsk Hydro Management
Management criteria checks 4/4
Norsk Hydro's CEO is Eivind Kallevik, appointed in Feb 2013, has a tenure of 13.33 years. total yearly compensation is NOK15.06M, comprised of 54% salary and 46% bonuses, including company stock and options. directly owns 0.005% of the company’s shares, worth NOK10.77M. The average tenure of the management team and the board of directors is 4.5 years and 4.1 years respectively.
Key information
Eivind Kallevik
Chief executive officer
NOK 15.1m
Total compensation
| CEO salary percentage | 54.00% |
| CEO tenure | 13.3yrs |
| CEO ownership | 0.005% |
| Management average tenure | 4.5yrs |
| Board average tenure | 4.1yrs |
Recent management updates
Recent updates
Narrative Update • Jun 02
NHY: Future Aluminum Price Optimism Will Likely Outrun Earnings Delivery Risks
The analyst fair value estimate for Norsk Hydro has been revised from NOK 50.26 to NOK 69.52. Analysts cite a series of recent price target increases, upgrades and conviction list additions as they factor in updated expectations for revenue growth, profit margins and a higher future P/E multiple.
Narrative Update • May 16
NHY: Extrusion Restructuring And Dividend Policy Will Support Future Upside Re Rating
Analysts have trimmed their fair value estimate for Norsk Hydro to NOK 137.00 from about NOK 138.97. This reflects a mix of higher modeled revenue growth and profit margins, a slightly lower assumed future P/E, and recent mixed rating and price target changes across Citi, Goldman Sachs, JPMorgan, Morgan Stanley, Danske Bank, and others.
Narrative Update • May 02
NHY: Mixed Ratings And Restructuring Actions Will Shape Future Risk Reward Balance
The updated analyst price target for Norsk Hydro has moved higher to NOK 104.18 from NOK 82.63. This reflects a recalibration of expectations as analysts weigh recent mixed rating changes against revised assumptions for revenue growth, profit margins and future P/E levels.Narrative Update • Apr 18
NHY: Extrusion Restructuring And Dividend Policy Will Support Future Re-Rating
Analysts have lifted the fair value estimate for Norsk Hydro from NOK 120 to about NOK 139. This reflects updated assumptions for higher revenue growth and profit margins, even as recent research shows a mix of upgraded price targets and fresh downgrades on concerns around downstream recovery and demand headwinds.Narrative Update • Apr 03
NHY: Extrusion Restructuring And Dividend Will Support Higher Future Earnings Multiples
Norsk Hydro's updated fair value estimate moves to NOK 120 from NOK 110, as analysts factor in slightly higher assumed revenue growth, modestly stronger profit margins, a lower discount rate, and a higher future P/E multiple, supported by a recent series of price target increases and rating upgrades across the Street. Analyst Commentary Recent research on Norsk Hydro shows a mixed set of opinions, but there has been a clear cluster of more constructive views alongside the latest fair value update.Narrative Update • Mar 20
NHY: Extrusion Restructuring And Dividend Plans Will Support Higher Future Earnings Multiples
Norsk Hydro’s analyst fair value estimate has been raised from NOK 102.0 to NOK 110.0, reflecting updated views on revenue growth, profit margins and forward P/E after a mix of recent target hikes and rating changes across the Street. Analyst Commentary Recent Street research on Norsk Hydro shows a split view, but with a clear cluster of bullish analysts lifting price targets and ratings as they reassess the company’s earnings power and valuation.Narrative Update • Mar 06
NHY: Restructuring And Upstream Exposure Will Shape Balanced Returns Ahead
The updated analyst price target for Norsk Hydro moves to NOK 82.63 from NOK 79.25, with the change broadly supported by recent Street research. Several firms increased their NOK-based targets, while others flagged demand and downstream recovery risks.Narrative Update • Feb 20
NHY: Extrusion Restructuring And Dividend Plans Will Support Future Earnings Multiples
Analysts have raised their fair value estimate for Norsk Hydro from NOK 99 to NOK 102. This reflects updated assumptions for revenue growth, margins and a lower future P/E, even as several recent broker downgrades highlight concerns around demand, currency and the pace of downstream recovery.Narrative Update • Feb 06
NHY: Restructuring And Hydropower Expansion Will Support Higher Future Earnings Multiples
Norsk Hydro's analyst price target has moved up to NOK 99. Analysts point to updated assumptions for the discount rate, revenue trajectory, profit margins and future P/E expectations to support the new level.Narrative Update • Jan 23
NHY: Restructuring And Hydropower Investment Will Shape Balanced Returns Ahead
Narrative Update Analysts have lifted their implied fair value estimate for Norsk Hydro from NOK 74.13 to NOK 79.25, reflecting higher Street price targets in the NOK 75 to NOK 99 range and updated assumptions on discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Street research on Norsk Hydro has leaned constructive in recent months, with several firms adjusting their price targets upward into the NOK 75 to NOK 99 range.Narrative Update • Jan 09
NHY: Restructuring And Hydropower Expansion Are Expected To Support Higher Multiples
Narrative Update The analyst price target for Norsk Hydro has moved to NOK 99 from NOK 79. Analysts attribute this change to updated views on long-term fair value, margins and future P/E support, as reflected in recent target increases across the Street.Narrative Update • Dec 25
NHY: Rising Aluminum Price Hopes Will Likely Prove Overly Optimistic
The analyst fair value estimate for Norsk Hydro has been raised from approximately NOK 46.0 to NOK 50.3. This change reflects analysts' upward revisions to price targets following continued Overweight and Outperform ratings, as well as a stronger outlook for profitability despite modestly weaker revenue growth assumptions. Analyst Commentary Recent research updates have generally reflected a constructive stance on Norsk Hydro, with multiple price target increases signalling confidence in the companys earnings resilience and balance sheet strength.Narrative Update • Dec 11
NHY: Cost Cuts And Hydropower Expansion Will Drive Balanced Returns Ahead
Norsk Hydro's analyst fair value estimate has been lifted to about NOK 74 from roughly NOK 72, as analysts point to a series of recent price target hikes across major banks. These reflect slightly stronger profit margin expectations and more supportive forward valuation multiples, despite modestly weaker revenue growth assumptions.Narrative Update • Nov 27
NHY: Cost Reductions And Power Investment Will Define Fair Performance Ahead
Norsk Hydro’s analyst price target has risen by NOK 2 to NOK 72.13, as analysts cite improved forecasts for fair value and revenue growth as the main drivers behind this update. Analyst Commentary Recent adjustments to Norsk Hydro’s price target reflect a mix of bullish optimism and cautious perspectives among market analysts.Analysis Article • Nov 15
Subdued Growth No Barrier To Norsk Hydro ASA's (OB:NHY) Price
With a median price-to-sales (or "P/S") ratio of close to 0.7x in the Metals and Mining industry in Norway, you could...Narrative Update • Nov 05
NHY: Future Cost Cuts and Margin Resilience Are Set to Shape Performance
The consensus analyst price target for Norsk Hydro has increased slightly from NOK 69 to approximately NOK 70.13. This change reflects updated expectations for the company's profit margins and ongoing positive sentiment from recent analyst reviews.Narrative Update • Oct 22
Analysts Raise Norsk Hydro Price Targets Amid Cost Cuts and Improved Profit Outlook
The analyst fair value estimate for Norsk Hydro has increased from NOK 66.87 to NOK 69.00. This change reflects analysts' improved outlook following multiple recent upward price target revisions by major firms.Narrative Update • Oct 08
Sustainable Metals Demand Will Transform Future Industry Landscape
The analyst price target for Norsk Hydro has increased modestly, with the consensus fair value estimate rising from NOK 65.93 to NOK 66.87. Analysts cite slightly improved profit margins and recent upward price target revisions despite lingering market uncertainty.Analysis Article • Aug 08
Why The 30% Return On Capital At Norsk Hydro (OB:NHY) Should Have Your Attention
OB:NHY 1 Year Share Price vs Fair Value Explore Norsk Hydro's Fair Values from the Community and select yours To find a...Analysis Article • Jun 30
Norsk Hydro ASA's (OB:NHY) P/E Is On The Mark
With a median price-to-earnings (or "P/E") ratio of close to 13x in Norway, you could be forgiven for feeling...
New Narrative • Nov 13
Hydro's Renewable Pivot And Strategic Partnerships Power Greener Growth And Profitability
Execution of renewable projects and recycling focus positions Hydro for revenue growth by diversifying energy sources and capturing premium markets.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | NOK 6b |
| Dec 31 2025 | NOK 15m | NOK 8m | NOK 7b |
| Sep 30 2025 | n/a | n/a | NOK 11b |
| Jun 30 2025 | n/a | n/a | NOK 10b |
| Mar 31 2025 | n/a | n/a | NOK 10b |
| Dec 31 2024 | NOK 14m | NOK 7m | NOK 6b |
| Sep 30 2024 | n/a | n/a | NOK 1b |
| Jun 30 2024 | n/a | n/a | NOK 191m |
| Mar 31 2024 | n/a | n/a | NOK 3b |
| Dec 31 2023 | NOK 10m | NOK 5m | NOK 4b |
| Sep 30 2023 | n/a | n/a | NOK 6b |
| Jun 30 2023 | n/a | n/a | NOK 14b |
| Mar 31 2023 | n/a | n/a | NOK 20b |
| Dec 31 2022 | NOK 8m | NOK 4m | NOK 24b |
| Sep 30 2022 | n/a | n/a | NOK 31b |
| Jun 30 2022 | n/a | n/a | NOK 25b |
| Mar 31 2022 | n/a | n/a | NOK 16b |
| Dec 31 2021 | NOK 8m | NOK 4m | NOK 12b |
| Sep 30 2021 | n/a | n/a | NOK 12b |
| Jun 30 2021 | n/a | n/a | NOK 11b |
| Mar 31 2021 | n/a | n/a | NOK 7b |
| Dec 31 2020 | NOK 6m | NOK 4m | NOK 4b |
| Sep 30 2020 | n/a | n/a | -NOK 3b |
| Jun 30 2020 | n/a | n/a | -NOK 5b |
| Mar 31 2020 | n/a | n/a | -NOK 3b |
| Dec 31 2019 | NOK 7m | NOK 4m | -NOK 2b |
Compensation vs Market: Eivind's total compensation ($USD1.59M) is about average for companies of similar size in the Norwegian market ($USD1.80M).
Compensation vs Earnings: Eivind's compensation has been consistent with company performance over the past year.
CEO
Eivind Kallevik (59 yo)
13.3yrs
Tenure
NOK 15,060,000
Compensation
Mr. Eivind Kallevik serves as Member of Corporate Management Board at Norsk Hydro ASA since February 15, 2013 and serves as its President and Chief Executive Officer since May 13, 2024. He served as Execut...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Member of Corporate Management Board | 13.3yrs | NOK 15.06m | 0.0050% NOK 10.8m | |
| Executive VP | 3.6yrs | NOK 8.91m | 0.00077% NOK 1.7m | |
| Executive VP of Compliance | 11.4yrs | NOK 7.07m | 0.0026% NOK 5.7m | |
| Executive VP of Hydro Aluminium Metal & Member of Corporate Management Board | 2.1yrs | NOK 8.26m | 0.000040% NOK 86.5k | |
| Executive VP of Hydro Bauxite & Alumina and Member of Corporate Management Board | 8yrs | NOK 16.50m | 0.0047% NOK 10.3m | |
| Executive VP of People & HSE and Member of Corporate Management Board | 7.4yrs | NOK 5.73m | 0.0022% NOK 4.8m | |
| Executive VP of Hydro Extrusions & Member of Corporate Management Board | 5.3yrs | NOK 17.04m | 0.0018% NOK 4.0m | |
| Member of Corporate Management Board | 3.7yrs | NOK 4.49m | 0.00045% NOK 972.8k | |
| Executive VP of Hydro Energy & Member of Corporate Management Board | 1.9yrs | NOK 5.90m | 0.000020% NOK 43.2k | |
| Head of Corporate Finance | no data | no data | no data | |
| Acting Head of Investor Relations | no data | no data | no data | |
| Executive Vice President for Communication & Public Affairs | less than a year | no data | no data |
4.5yrs
Average Tenure
57.5yo
Average Age
Experienced Management: NHY's management team is considered experienced (4.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Director | 1.1yrs | NOK 301.00k | no data | |
| Independent Director | 2.1yrs | NOK 646.00k | 0.00051% NOK 1.1m | |
| Independent Chairman of the Board | 6yrs | NOK 1.17m | 0.0014% NOK 2.9m | |
| Independent Director | 10.1yrs | NOK 1.02m | no data | |
| Independent Director | 2.1yrs | NOK 715.00k | 0.000050% NOK 108.1k | |
| Employee Representative Director | 4.1yrs | NOK 646.00k | 0.000050% NOK 108.1k | |
| Employee Representative Director | 7.7yrs | NOK 581.00k | 0.00034% NOK 735.0k | |
| Employee Representative Director | no data | NOK 314.00k | no data | |
| Independent Deputy Chair | 4.1yrs | NOK 648.00k | 0.000060% NOK 129.7k | |
| Independent Director | 4.1yrs | NOK 929.00k | 0.000080% NOK 172.9k | |
| Employee Representative Director | 4.1yrs | NOK 469.00k | 0.000060% NOK 129.7k |
4.1yrs
Average Tenure
62yo
Average Age
Experienced Board: NHY's board of directors are considered experienced (4.1 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/10 05:27 |
| End of Day Share Price | 2026/06/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Norsk Hydro ASA is covered by 34 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Amos Fletcher | Barclays |
| Charlie Clark | Berenberg |