Welcome to our dedicated page for Boliden Ab news (Ticker: BDNNY), a resource for investors and traders seeking the latest updates and insights on Boliden Ab stock.
BOLIDEN AB UNSP/ADR (BDNNY) is linked to Boliden AB, a mining and metals company whose activities are regularly covered through official press releases and market communications. This news page aggregates those updates so readers can follow how Boliden’s mines, smelters, financing and governance evolve over time.
Boliden’s news flow often centers on developments at specific mining assets and projects. Recent communications include the granting of a mining concession for the Laver deposit in Sweden, which gives Boliden the right to extract copper, gold, silver and molybdenum, and statements about how the deposit could contribute to Europe’s copper supply. Other operational updates have highlighted the consolidation of the Somincor copper and zinc mine in Portugal and the Zinkgruvan zinc mine in Sweden, as well as record mine production at Aitik.
Readers can also find news on Boliden’s financial structure and sustainability efforts. The company has announced a sustainability-linked term loan used to refinance a bridge loan for acquisitions, and has described an updated Green Finance Framework aligned with the International Capital Market Association’s Green Bond Principles. This includes a focus on energy efficiency, pollution prevention, waste management and renewable energy production, and references to low-carbon zinc production at the Odda smelter.
Governance and regulatory topics appear frequently in Boliden’s releases. Examples include communiqués from the Annual General Meeting, reports on payments to government agencies in Sweden, Finland and Ireland, and statements on proposed changes to mining and energy taxes in Finland. The company also publishes invitations to and presentations of interim reports, providing context on quarterly financial performance and operational conditions.
In addition, Boliden’s news covers social and industry engagement, such as the organization of what it calls the world’s deepest marathon in the Garpenberg zinc mine in cooperation with ICMM and BecomingX, and appointments to Group Management. Investors and observers who follow BDNNY-related news can use this page to monitor these developments in one place.
Boliden announced its first-quarter results for 2023, reporting revenues of SEK 19,962 million, down from SEK 21,812 million. The operating profit, excluding inventory revaluation, was SEK 3,020 million, a decrease from SEK 4,466 million. Free cash flow saw a negative shift, totaling SEK -46 million compared to SEK 674 million in the prior year.
Production challenges impacted profits, particularly in Boliden Mines, where operating profit fell to SEK 1,197 million, primarily due to lower metal prices and volumes. Several mines experienced disruptions, including Aitik, where milled volume fell due to adverse conditions. Despite these issues, Boliden Smelters recorded an improvement in operating profit, reaching SEK 1,497 million, aided by higher production volumes and improved treatment charges.
Q1 2023 Financial Highlights:
- Revenues: SEK 19,962 million, down from 21,812 million.
- Operating Profit: SEK 3,405 million, decreased from 5,038 million.
- Free Cash Flow: SEK -46 million, compared to 674 million.
- Earnings per Share: SEK 9.29, down from 14.51.
The decline in performance was primarily driven by lower metal prices and reduced mine production. Key investments in Odda and Aitik, along with the Kristineberg mine extension, are progressing as planned. Although cost inflation negatively impacted financial results, it is beginning to stabilize. The company's smelters showed improved conditions, despite facing challenges from lower grades and production disruptions in mining operations.
Boliden is set to release its Interim Report for Q1 2023 on April 25, 2023, at 07:45 CET. Following the report publication, a press and analyst conference will occur at 09:30 CET and can be accessed through a live webcast and telephone. The presentation will be led by Mikael Staffas, President and CEO, and Håkan Gabrielsson, CFO. Participants need to register five minutes prior to the start and will receive dial-in details post-registration. The conference aims to discuss the company's performance and insights from the interim report, which is pivotal for investors monitoring Boliden’s financial progress. For additional details, investors are directed to visit Boliden’s website or contact Olof Grenmark, Director of Investor Relations.
Boliden AB will hold its Annual General Meeting on April 25, 2023, at its Garpenberg facility. Shareholders can participate in person, by proxy, or vote via postal voting until April 19, 2023. Key agenda items include the election of Board members, approval of financial statements, and proposed dividends of SEK 15.00 per share, with an additional SEK 11.50 from an automatic share redemption. The company aims a share split of 2:1 and is introducing a long-term share savings program for management and key employees, incentivizing performance against specific financial metrics. The share capital will be increased through a bonus issue.
Boliden reported a strong fourth quarter with
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