Norsk Hydro ASA Update on Certain Operational Data and Market Information for Q1 2019 Conference Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ioannis Masvoulas - Macquarie Research - Analyst : I have 3 questions actually. The first on bauxite and alumina. Alunorte's production was fairly stable, but third-parties alumina sales were significantly lower quarter-over-quarter. Is it a reflection of unnecessary adjustment in your alumina inventories? Or is there anything else driving this? And I'll stop here for the first question.

Question: Ioannis Masvoulas - Macquarie Research - Analyst : Is there more to come on that front or are you pretty much now at normal levels?

Question: Ioannis Masvoulas - Macquarie Research - Analyst : Great. And the second question on Extruded Solutions. You alluded to the fact that volumes were down year-over-year partly due to the shift towards sort of a structural value-over-volume story. Could you please quantify that 8% decline, how much is that structural shift and how much is due to the cyberattack?

Question: Ioannis Masvoulas - Macquarie Research - Analyst : Okay. That's great. And one last question on my side. On DRS1, the estimated range of the remaining life is still very wide. So what's driving that 8-month to 18-month range? And when do you think you'll be able to provide another range or potential expansion to the main life?

Question: Eivind Sars Veddeng - DNB Markets, Research Division - Analyst : All my questions have been answered.

Question: Cedar Ekblom - BofA Merrill Lynch, Research Division - Analyst : It's Cedar Ekblom from Bank of America Merrill Lynch. I've got a question on the in-demand chart that you've presented. You're still talking about quite a robust picture from transport in markets, in extrusion and raw products even though it's slightly lower than your previous guidance. And I'm just wondering what you're seeing on the ground considering that we've got Western European auto production down nearly 8% in Q1. How much of your more positive outlook on demand is about substitution? Maybe you can give us some color on how your automotive end buyers are actually responding?

Question: Cedar Ekblom - BofA Merrill Lynch, Research Division - Analyst : Okay. And to the extent that the WLTP bottlenecks in Europe have impacted some of your in-demand, I don't know if you could give us any color in terms of where your customers are with regards to that. Have you started to see a demand outlook stabilizing? Or are those bottlenecks still impacting your customers' demand for product? I was wondering if you can give us some color on that?