Boliden's Q1 2024: Key investment decisions in a challenging quarter
"Despite more challenges than usual during the quarter, we have been able to maintain production well, especially in Business Area Mines. In addition, we have also made several decisions to future-proof both Rönnskär and the Boliden Area" - Mikael Staffas, President and CEO.
Financials
Revenues: SEK 18,481 m (19,962)
Operating profit: SEK 1,615 m (3,405)
Operating profit excl. PIR*: SEK 1,212 m (3,020)
Free cash flow: SEK -1,508 m (-46)
Earnings per share: SEK 4.16 (9.29)
*Process Inventory Revaluation
Highlights
Operating profit excluding revaluation of process inventory totaled SEK 1,212 m (3,020)
Political strikes in Finland had an estimated SEK -400 m (0) effect on operating profit
Free cash flow was SEK -1,508 m (-46) negatively impacted by the strikes
Extreme winter conditions in January had an estimated effect of SEK -100 m
Lower grades had an estimated effect of SEK -165 m
Record milled production in Garpenberg
Decision to invest in a new tank house in Rönnskär
Decision to invest in life span extension of the Boliden Area
The Interim Report will be presented via webcast/conference call on Tuesday, April 23 at 09:00 (CEST). Information is available at www.boliden.com.
Metals for generations to come
Boliden's vision is to be the most climate-friendly and respected metal provider in the world. We are Europe's producer of sustainable metals and, guided by our values care, courage and responsibility, we operate within exploration, mines, smelters and recycling. We are around 6,000 employees and have annual revenues of approximately SEK 80 billion. The share is listed in the Large Cap segment of NASDAQ OMX Stockholm.
www.boliden.com
2 (2)
For further information, please contact:
Olof Grenmark
Director Investor Relations
+46 70 291 57 80 olof.grenmark@boliden.com
This information is information that Boliden AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Director Investor Relations, at 07:45 CEST on April 23, 2024.
Metals for generations to come
Boliden's vision is to be the most climate-friendly and respected metal provider in the world. We are Europe's producer of sustainable metals and, guided by our values care, courage and responsibility, we operate within exploration, mines, smelters and recycling. We are around 6,000 employees and have annual revenues of approximately SEK 80 billion. The share is listed in the Large Cap segment of NASDAQ OMX Stockholm.
www.boliden.com
Attachments
Original Link
Original Document
Permalink
Disclaimer
Boliden AB published this content on
23 April 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
23 April 2024 05:47:09 UTC.
Boliden AB is Europe's No. 3 zinc and copper producer. The group is also active in metal casting, refining, and recycling. Boliden AB also produces gold, silver and lead. Net sales break down by activity as follows:
- metal production and processing (98.3%);
- metal extraction (1.7%): primarily zinc and copper.
At the end of 2023, the group had 5 mines located in Sweden (3), Finland, and Ireland.
Net sales are distributed geographically as follows: Sweden (8.8%), Finland (10.2%), Nordic countries (0.7%), Germany (19.4%), the United Kingdom (18.6%), Europe (39.5%), North America (0.1%) and other (2.7%).