Boliden Ab Stock Price, News & Analysis

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.

Boliden has successfully issued SEK 2 billion in green bonds under its MTN program, with maturities of three and five years. The funds will finance the expansion of the Odda zinc smelter in Norway, positioning Boliden as a leader in sustainable metal production. The company aims to reduce carbon dioxide intensity by 40% by 2030, using 2012 as the baseline. Strong demand for these green bonds highlights the importance of metals in the climate transition.

Boliden has launched a Green Finance Framework aimed at supporting sustainability objectives through the issuance of green bonds and loans. Financing will target projects related to energy efficiency, pollution prevention, and clean transportation. Key projects may include energy recovery and water purification. The framework has received an independent review from CICERO Shades of Green, achieving a 'Medium green' classification with excellent governance. This initiative aligns with Boliden's strategy to enhance its climate-friendly operations as it aims to be a leading metal provider.

Boliden has published its report detailing payments made to government agencies in accordance with Swedish laws regarding extractive industries for the year 2021. The report covers payments in Sweden, Finland, and Ireland. This report is part of Boliden's compliance with the Securities Markets Act and was made public on June 1, 2022. Boliden, a metals company, emphasizes sustainable development with annual sales around SEK 70 billion and approximately 6,000 employees.

Boliden has executed a 2:1 share split following a decision from its annual general meeting on April 28, 2022. This split, completed in May 2022, increased the total number of shares and votes to 547,022,338. However, the additional shares generated by the split will be redeemed in June 2022, reverting the total to 273,511,169. The shares are part of a redemption procedure aimed at enhancing shareholder value.

For more details, visit Boliden's website.

Boliden reported significant first-quarter revenues of SEK 21,812 million, an increase from SEK 17,083 million and an operating profit of SEK 4,466 million, up from SEK 2,449 million. The increase was attributed to high metal prices and improved performance at Boliden Mines, where operating profit rose to SEK 3,115 million. However, the company faced challenges with rising costs due to higher energy prices and inflation on mining inputs. Overall, while production levels varied across sites, the outlook remains cautiously optimistic amid cost pressures.