Hydro update on the Coronavirus situation

2020-03-19

Mar. 19, 2020 - Hydro is taking action to help contain the spread of the Coronavirus, while safeguarding employees, operations and deliveries to customers. Operational impact is currently limited, but significant market uncertainty combined with government-imposed restrictions are expected to affect operations.

With 36,000 employees and operations in more than 40 countries, Hydro is a truly global company, with exposure to the Coronavirus outbreak. The situation is developing quickly, and Hydro is continuously evaluating a wide range of mitigating actions.

“My top priority is the safety and wellbeing of all employees and contractors in Hydro,” says President & CEO Hilde Merete Aasheim. “As a global, responsible company, Hydro is taking part in the collective effort to help mitigate the situation, while limiting impact on our operations, to the extent possible.”

Hydro is following recommendations from local and international health authorities, monitors the situation and updates contingency plans to avoid disruptions and secure deliveries to customers.

People impact

Hydro’s emergency preparedness organization was activated early in the outbreak and continues to coordinate and actively address the situation.

Hydro has introduced restrictions to protect employees and operations, including:

1. Extraordinary mandatory hygienic measures

2. General advice on how to limit spread of the virus

3. Travel restrictions

4. Guidelines for greeting and meeting others

5. Cancellation of participation in external events

6. Cancellation of internal events

7. Re-location and splitting of essential business functions

8. Home office for relevant functions

Operational impact

Most of Hydro’s operations are running at normal production levels, but with increased uncertainty and with likely increasing impact on demand and activities.

Financial impact

It is too early to estimate the financial impact of the Coronavirus.