Boliden Ab Stock Price, News & Analysis

Boliden reported a strong fourth quarter with SEK 23,577 million in revenues and an operating profit of SEK 3,190 million. Free cash flow increased to SEK 3,520 million, reflecting a solid operational performance despite challenges in Boliden Mines where operating profit fell to SEK 1,512 million due to lower grades and higher costs. In contrast, Boliden Smelters achieved a record operating profit of SEK 1,570 million, bolstered by favorable currency effects and higher metal volumes. Investments for 2022 totaled SEK 10,022 million, focusing on various expansion projects.

On February 14, 2023, Boliden announced the identification of a new mineralization in Garpenberg, adding 5.5 million tonnes of Inferred Mineral Resources. This increase is part of a broader rise in Mineral Resources at Garpenberg and a modest increase in the Boliden Area. However, the Mineral Reserve has decreased in Aitik and Kevitsa, with Aitik down by 176 million tonnes. Exploration costs in 2022 reached SEK 770 million. Although grades are slightly lower, Garpenberg's Mineral Reserve has surged by 15.6 million tonnes due to successful exploration efforts. The overall outlook for Garpenberg remains positive, supporting long-term mining operations.

Boliden AB reported a strong financial performance for Q4 2022, with revenues reaching SEK 23,577 million, up from SEK 17,755 million in the prior year. The operating profit increased slightly to SEK 3,229 million, and excluding inventory revaluation, it totaled SEK 3,190 million. Free cash flow also saw a significant rise, totaling SEK 3,520 million. Earnings per share improved to SEK 9.42. The company proposed a combined dividend of SEK 26.50 per share, comprising an ordinary dividend of SEK 15.00 and an extra payment of SEK 11.50.

Boliden will release its Q4 2022 Interim Report on February 14, 2023, at 07:45 CET. The presentation will be led by CEO Mikael Staffas and CFO Håkan Gabrielsson during a press and analyst conference starting at 09:30 CET, located at Klara, Room Dagerman, Stockholm. Participants can join via a live webcast or telephone after registering. Investors are encouraged to submit questions during the conference call.

For more information, contact Olof Grenmark, Director of Investor Relations.

On November 15, 2022, Boliden held its Capital Markets Day to discuss updated operational strategies and climate targets. The company aims for a 40% reduction in CO₂ emissions by 2030 from 2021 levels. New targets for Low-Carbon Copper and Zinc were announced, and the company is applying to join the Science Based Target initiative. Investment projects in Aitik and Odda are on track, despite a planned impairment of €24.4 million due to halted exploration in Outokumpu. Presentations and a live webcast are available on Boliden's website.

Boliden AB reported a strong Q3 2022 performance with revenues of SEK 19,480 m, up from SEK 15,906 m last year. The operating profit rose to SEK 3,550 m from SEK 2,305 m, while earnings per share increased to SEK 9.90 from SEK 6.57. However, free cash flow significantly dropped to SEK 97 m, mainly due to higher investments and increased inventory. Despite lower metal prices and continued high inflation, the company maintained stable production levels, although with lower grades and zinc production.

Boliden's Q3 financial results show revenues of SEK 19,480 m, up from SEK 15,906 m, and an operating profit increase to SEK 3,484 m from SEK 2,419 m. Despite high inflation, stable production and favorable exchange rates contributed to this strong quarter, with nickel production improving. Boliden Mines' profit rose to SEK 1,964 m. However, milled volumes and copper production faced challenges.

Boliden will release its Q3 2022 Interim Report on October 20 at 07:45 CET. This will be followed by a press and analyst conference at 09:30 CET, accessible via webcast and telephone. The presentation will be led by Boliden's President and CEO, Mikael Staffas, and CFO, Håkan Gabrielsson. Investors and analysts are urged to register for the conference five minutes prior. Boliden is a global metals company with approximately SEK 70 billion in annual sales and around 6,000 employees.

Dogger Bank, the world's largest offshore wind farm, has chosen Boliden's Low-Carbon Copper for its high-voltage offshore export cables in the third phase, Dogger Bank C. This initiative is set to reduce the project’s CO₂-footprint by over 23,000 tons, as Boliden's copper has less than half the carbon footprint of standard copper. Boliden produces Low-Carbon Copper using fossil-free energy and advanced productivity techniques, resulting in less than 1.5 Kg CO₂eq/Kg. The copper is sourced from Aitik mine and processed in Rönnskär before delivery to Elcowire and NKT.