NHYDY Norsk Hydro ASA (QX)

By Adam Clark

Norsk Hydro ASA (NHY.OS) said Friday that its operations are still recovering from a cyberattack and it can't yet estimate the operational and financial damage caused.

The Norwegian aluminum and energy giant said its experts are working on restoring its systems to their preinfected state, after finding a solution to the ransomware software that hit its computers on Tuesday.

"We are continuing to make progress towards a resolution, but the situation remains serious and we are still dependent on extraordinary measures to run many of our operations. This is particularly challenging within our Extruded Solutions business area, where the implementation of work-around solutions is both challenging and time-consuming," Chief Financial Officer Eivind Kallevik said.

Norsk Hydro said its energy and bauxite-and-alumina divisions are running as normal. Production of primary metal and rolled products has returned to normal, but with a higher degree of manual operation. Extruded Solutions is running at 50% of normal capacity.

The company said it doesn't have a full overview of the timeline to return to normal operations.

Shares last traded down 3%.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

March 22, 2019 11:34 ET (15:34 GMT)

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