Boliden Ab Stock Price, News & Analysis

Boliden (BDNNY) has released its mandatory report detailing payments made to government agencies in Sweden, Finland, and Ireland related to extractive industry operations during 2024. The report was published in compliance with Swedish Law (2015:812) on reporting payments to government agencies. The document was made public on May 28, 2025, at 15:00 CEST.

Boliden (BDNNY) has secured a EUR 700 million Sustainability Linked Term Loan to finance its acquisition of Somincor copper and zinc mine in Portugal and Zinkgruvan zinc mine in Sweden. The three-year loan, extendable by two additional years, is provided by multiple major banks including BNP Paribas, Royal Bank of Canada, and others. This Term Loan, combined with equity raised in March 2025 and the exclusion of dividend in 2025, completes the take-out financing of the bridge loan agreement, which has now been fully repaid.

Boliden (BDNNY) has updated its Green Finance Framework, initially launched in May 2022, reflecting its enhanced climate commitments. The company has achieved a significant milestone by having its climate targets validated by the Science Based Targets initiative (SBTi). The framework update includes a roadmap to 2030 focusing on electrification, renewable energy transition, and process improvements.

Key changes include adopting the International Capital Market Association's (ICMA) Green Bond Principles for mapping eligible projects, with emphasis on energy efficiency projects, particularly refinancing the zinc smelter Odda expansion for Low Carbon Zinc production. The framework now features expanded categories for pollution prevention and waste management, plus a new renewable energy production category. S&P Global has reviewed the updated framework and maintained its 'Medium Green' rating.

Boliden held its Annual General Meeting on April 23, 2025, both live in Aitik and through postal voting. The meeting saw the re-election of eight Board Members and the new election of Victoire de Margerie, with Karl-Henrik Sundström continuing as Chairman. Key financial decisions include setting the Chairman's remuneration at SEK 2,100,000 and SEK 700,000 for non-employee Board Members.

Shareholders approved the Board's proposal for no dividend distribution, with funds being carried forward as retained earnings. The meeting also approved amendments to the Articles of Association and established a new long-term share savings programme (LTIP 2025/2028) for key executives. PwC was elected as the new auditor, and a new Nomination Committee will be appointed by the three largest shareholders as of August 31.

Boliden (BDNNY) reported strong Q1 2025 financial results with revenues of SEK 21,121 million, up from SEK 18,481 million year-over-year. Operating profit more than doubled to SEK 3,062 million from SEK 1,615 million, while earnings per share increased to SEK 7.99 from SEK 4.16.

The company's performance was boosted by higher metal prices and a stronger USD, though partially offset by strikes in Finland impacting operations by SEK -100 million. Free cash flow was negative at SEK -1,869 million, affected by increased working capital but benefiting from SEK 350 million in insurance proceeds. The quarter saw lower milled volume and recoveries in Aitik, while Tara's ramp-up progressed well and Odda began commissioning its expansion project.

Notably, Boliden successfully raised SEK 3.75 billion through a directed share issue during the quarter.

Boliden has completed its acquisition of Somincor (copper and zinc mine in Portugal) and Zinkgruvan (zinc mine in Sweden) from Lundin Mining for USD 1.40 billion. The deal, announced on December 9, 2024, includes a base purchase price of USD 1.30 billion and potential contingent payments of up to USD 150 million tied to commodity prices and certain conditions.

The acquisition, effective April 16, 2025, will nearly double Boliden's zinc concentrate production and significantly boost its copper concentrate production, strengthening its position as Europe's leading base metals company. The transaction was financed through a bridge loan and a directed share issue that raised approximately SEK 3.75 billion. The bridge loan will be refinanced through a temporary deviation from Boliden's dividend policy and medium to long-term debt financing.

Boliden (BDNNY) has announced it will release its Q1 2025 Interim Report on Wednesday, April 23, 2025, at 07:45 (CEST). The company will host a press and analyst conference at 09:30 CEST on the same day.

The presentation will be led by President and CEO Mikael Staffas and CFO Håkan Gabrielsson. Participants can join via webcast or telephone conference, with a Q&A session available for attendees. The presentation materials and recorded webcast will be made available on Boliden's website following the event.

Boliden has secured all necessary regulatory approvals for its acquisition of two mining operations: Neves-Corvo in Portugal and Zinkgruvan in Sweden. The approvals include:

• EU Commission merger control approval
• Swedish Inspectorate of Strategic Products approval under the Swedish FDI Act
• Change of control approval for the Neves-Corvo Portuguese Concession Contract
• Fundamental Permits Approval

The acquisition, initially announced on December 9, 2024, is expected to reach completion in the coming weeks, pending satisfaction of remaining closing conditions.

Boliden AB (BDNNY) has announced changes to its share structure following a directed share issue. The company has issued 10,714,285 new shares, resulting in an equivalent increase in voting rights. As of March 31, 2025, Boliden's total share count and voting rights have increased to 284,225,454, with the share capital now amounting to SEK 601,592,217.044561.