Boliden: Q1 Interim Report 2023

Rhea-AI Summary

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.

Positive

• Major investment projects in Odda, Aitik, and Kristineberg mine are on track.
• Improved terms and stable production in Smelters.

Negative

• Revenues decreased to SEK 19,962 million from 21,812 million.
• Operating profit fell to SEK 3,405 million from 5,038 million.
• Free cash flow declined to SEK -46 million from 674 million.
• Earnings per share dropped to SEK 9.29 from 14.51.
• Lower grades and production disruptions in Mines.

STOCKHOLM, April 25, 2023 /PRNewswire/ -- 

Q1 2023

• Revenues totaled SEK 19,962 m (21,812)
• The operating profit totaled SEK 3,405 m (5,038)
• The operating profit, excluding revaluation of process inventory, totaled SEK 3,020 m (4,466)
• Free cash flow was SEK -46 m (674)
• Earnings per share totaled SEK 9.29 (14.51)

Lower metal prices and lower mine production

• Free cash flow decreased to SEK -46 m (674) mainly due to higher investments.
• Negative effect from cost inflation which is now tapering off.
• The major investment projects in Odda and Aitik and the extension of the Kristineberg mine are proceeding according to plan.
• Lower grades and production disruptions in Mines.
• Improved terms and stable production in Smelters.

Please find enclosed the full report.

The Interim Report will be presented via a webcast/conference call on Tuesday,

April 25 at 09:30 (CET). Information is available at www.boliden.com.

Contact persons for information:
Mikael Staffas, President and CEO	Tel: +46 8 610 15 00
Håkan Gabrielsson, CFO	Tel: +46 8 610 15 00
Olof Grenmark, Director Investor Relations	Tel: +46 70291 57 80
E-mail: 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 CET on April 25, 2023.

The following files are available for download:

https://mb.cision.com/Main/997/3757198/2007845.pdf

Report (PDF)

 

View original content:https://www.prnewswire.com/news-releases/boliden-q1-interim-report-2023-301806372.html

SOURCE Boliden

FAQ

What were the total revenues for Boliden in Q1 2023?

Boliden's total revenues for Q1 2023 were SEK 19,962 million.

How did Boliden's operating profit change in Q1 2023?

Boliden's operating profit decreased to SEK 3,405 million in Q1 2023 from 5,038 million.

What is the free cash flow for Boliden in Q1 2023?

Boliden reported a free cash flow of SEK -46 million in Q1 2023.

What were Boliden's earnings per share in Q1 2023?

Boliden's earnings per share for Q1 2023 were SEK 9.29.

What factors contributed to Boliden's financial decline in Q1 2023?

The decline was mainly due to lower metal prices, reduced mining production, and production disruptions.